TreviPay has announced the launch of its Universal Acceptance solution to expand supplier access to and faster implementation of TreviPay’s payments and invoicing technology, in partnership with Mastercard. Suppliers who accept Mastercard will be able to extend net terms, or trade credit financing, and SKU-level invoicing to business buyers through TreviPay’s Universal Acceptance solution using Mastercard’s commercial card payment capabilities.

The top three pain points of global business buyers are inefficient processes, incorrect invoicing and slow onboarding. That is according to research commissioned by TreviPay The same research ranked trade credit as a leading payment option preferred by business buyers. With minimal integration required, TreviPay’s Universal Acceptance solution enables suppliers who are already accepting credit cards to quickly and easily offer net-terms financing to their qualified buyers. TreviPay automates the buyer onboarding, financing and accounts receivable process to drive payment efficiencies and streamline time-consuming back-office operations.

TreviPay hopes to remove issues faced with B2B purchasing

Brandon Spear, CEO of TreviPay, said: “TreviPay’s technology was developed to eliminate the complexities of B2B purchasing and create a consumer-like purchasing experience while still catering to the needs and requirements of business buyers. Joining forces with Mastercard to launch the Universal Acceptance solution marks an industry milestone in expanding access to TreviPay’s solution. Together we are changing how businesses can transact by bringing flexible extended payment terms to more buyers.”

With TreviPay leveraging Mastercard’s global acceptance network and commercial card payment capabilities, suppliers are able to provide approved buyers with a net-terms card for purchasing, offering the checkout convenience of a credit card, as well as the auditability and purchase controls of trade credit. The TreviPay platform then automatically delivers invoices directly to the merchant’s buyer, eliminating the costs associated with chasing outstanding or late payments, assuming all risk associated with collection and guaranteeing settlement to the merchant upfront.

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By GlobalData