The product is designed to expand access and faster implementation of TreviPay’s payments and invoicing technology. Through this, suppliers who accept Mastercard will be able to extend net terms or trade credit financing and SKU-level invoicing to business buyers, using Mastercard’s commercial card payment capabilities.
A study conducted on behalf of TreviPay revealed that the primary concerns for corporate purchasers worldwide are inefficient procedures, erroneous billing, and slow enrollment. Additionally, it found that business buyers have designated trade credit as one of their top payment methods. In this case, the integration process for TreviPay's Universal Acceptance feature is straightforward, allowing suppliers to swiftly provide qualified buyers with net-terms financing without shouldering any credit risks. With automation tools to take care of procedures such as buyer initiation, funding acquisition, and accounts management, Trevipay aims to further improve prompt monetary transactions and simplify laborious administrative tasks for its clients.
Leveraging Mastercard's widely accepted global network and specialised ability to process commercial card payments, TreviPay helps suppliers provide their approved buyers with a purchase-based card on extended payment terms. Therefore, buyers can enjoy the convenience of a credit card at checkout while still maintaining elaborate record-keeping and protective measures of net trade credit expenses.
With the addition of the Universal Acceptance solution, the TreviPay platform can be implemented for suppliers in two ways:
The original API integration of the platform directly into the seller’s point of acceptance.
Without API integration, instead leveraging Mastercard’s global acceptance network.
Commenting on the subject, TreviPay stated that its technology was developed to simplify B2B purchases and provide an easy, user-friendly experience for customers that caters to both business buyers' needs and requirements. Therefore, collaborating with Mastercard for the launch of the Universal Acceptance solution was a significant step in promoting global access to TreviPay's high-demand B2B payment method used by sellers around the world. In addition, this partnership was set to upgrade business transactions by offering buyer flexibility with extended payment terms.
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