Global B2B payments and invoicing network, TreviPay, has released a series of technology features designed to help merchants build experiential loyalty with enterprise buyers. The initiative includes TreviPay’s new all-in-one payments solution. The aim is to expand payment choice, convenience and customisation for merchants across different industries including retail, hospitality and manufacturing. TreviPay says that merchants leveraging its technology will reduce friction and build loyalty at all stages of the purchasing process.

TreviPay references research highlighting the importance of payment choice for optimising first-time and returning buyer experiences. Some 86% of global business buyers report the ability to pay using their preferred payment method is important. TreviPay’s all-in-one payments solution means that B2B merchants and marketplaces can now serve the entire spectrum of business buyers with TreviPay as their single payment vendor. Through integration, merchants can customise acceptance of card types. This allows business buyers to either pay upfront with card, ACH or mobile wallet. Alternatively, they can pay later through net terms (the ability to pay in 30-, 60-, or 90-days) and invoicing to improve cash flow and reduce bad debt.

“As enterprises continue to evaluate their digital transformation efforts, there is still an opportunity to innovate the online B2B payments experience to eliminate checkout friction and increase conversions,” said Dan Zimmerman, Chief Technology Officer of TreviPay. “Through one comprehensive checkout solution, merchants can rely on a single payments vendor to accept multiple payments modalities and consolidate reporting across payment types.”

B2B retail industry a notable use case

A notable use case is found in the B2B retail industry. Credit cards are often the only payment option offered online. Trade credit or net terms are preferred by 85% of global business buyers. This is typically the case for higher spend or more frequent purchases. Now retailers can now accommodate both options more seamlessly through TreviPay’s all-in-one payments solution. Credit and debit card payments are supported for customers in a number of markets. These include the US, Canada, Mexico, UK, Europe and Australia, in 16 payout currencies and 25+ locales.

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By GlobalData