The expansion of its payment technology seeks to showcase TreviPay’s commitment to orchestrating choice, convenience, and efficiency in B2B payments for merchants worldwide.
Operating in 32 countries and in 20 currencies, TreviPay is now able to facilitate transactions when the buyer looks to be invoiced and pay in a currency different than the one disbursed to the merchant, and the enhanced trade credit capability is thought to help bolster buyer loyalty, which begins at the payment.
The announcement highlights that conducting business in the current expanding global markets can be difficult when dealing with multiple currencies, with TreviPay research having revealed that business buyers find having and easy first payment and a consistent purchasing experience as being in the top 3 important factors. As part of its strategic focus in providing loyalty-building payments experiences, TreviPay’s cross-currency transactions updates are to enable more buyers to select their preferred payment method and currency at checkout.
Additionally, the research found that 72% of business buyers worldwide are more loyal to a company providing their preferred payment method.
What is more, whereas cross-currency capabilities are becoming essential in industries like manufacturing and online retail, a notable use case is the travel sector, especially for merchants such as a large-scale hotel chain with multiple US-based franchises. In such an instance, most corporate travellers would be US buyers, yet others that are not US-based might look to book and pay their invoice in a different currency, with the press release exemplifying Canadians who prefer paying in Canadian Dollars (CAD). TreviPay’s solution enables American franchises to allow foreign exchange so that Canada-based travellers can purchase from them in CAD, as opposed to setting up a separate business account in CAD for payout.
In addition to its cross-currency updates, TreviPay also rolled out several portal improvements to better ease and efficiency for customers, including the ability to change primary customer contacts quickly and easily, update trusted device sign-ins, as well as expanded options for company buyer hierarchy capabilities.
When commenting on the news, Brandon Spear, CEO of TreviPay said that although global commerce capabilities are increasingly important, not all merchants can set up a bank account in every preferred currency of their customers. Per their statement, TreviPay’s enhanced technology and cross-currency solution enables geographical expansion and makes global trade more accessible to merchants across all sales channels.
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