The company’s composable technology platform aims to enable banks globally to deliver automated accounts receivable, underwriting, and trade credit management solutions to their large commercial customers. Additionally, the launch allows TreviPay to continue to scale and expand its services globally.
A recent study from
Murphy Research commissioned by TreviPay shows that trade credit represents a payment option preferred by business buyers. By leveraging Financial Partner Gateway, banks can enable their commercial merchant clients to provide buyers with the option of paying with trade credit and the ability to pay in 30, 60, or 90-day payment terms. The banking partner then pays its customers after transactions, with the cash flow and receivable management support helping streamline these processes for enterprises.
Moreover, the suite was developed for flexibility, as TreviPay is also able to assist with underwriting and fraud prevention through its proprietary Risk Management System when the financial institution requires it. According to officials, the new offering aims to open an additional revenue stream for banking partners who want to optimise the experience offered by their commercial clients.
The Financial Partner Gateway allows TreviPay to expand its operations, as it can be integrated into any market the company is not currently operating in, by partnering with an in-market bank. Representatives also stated that their solution offers the tools for financial institutions to allow their business clients to offer more flexible payment terms for customers while increasing loyalty and retention.
Through its suite of solutions, TreviPay aims to enable enterprises to provide payment options and convenience, open new markets, and automate account receivables. Currently, the company offers its services to industries with large distribution networks, including manufacturing, retail, and transportation.
At the end of August 2023, TreviPay
launched a capability to support cross-currency sales between businesses, allowing merchants to process B2B transactions in foreign currency. Through this, the company seeked to show its commitment to orchestrating choice, convenience, and efficiency in B2B payments for merchants worldwide.
TreviPay also entered multiple partnerships in recent months, including one with
Samsung Electronics Australia in June 2023. Through this collaboration, Samsung’s direct-to-consumer (DTC) business was able to extend payment terms and invoice-based purchasing to B2B buyers for an intuitive checkout experience.
Moreover, in May 2023, TreviPay
partnered with Spryker to offer more payment options for global B2B sellers and marketplaces. The collaboration allowed the integration of TreviPay’s global B2B payments and invoicing network into Spryker’s digital commerce and marketplace platform.
