This week, TreviPay, a global B2B payments and invoicing network, released a series of technology features designed to help merchants build experiential loyalty with enterprise buyers, including TreviPay’s new all-in-one payments solution. The company said that by providing payment choice, convenience and customization, merchants across different industries, including retail, hospitality and manufacturing, can leverage its technology to reduce friction and build loyalty at all stages of the purchasing process.
Recent TreviPay research unveiled the importance of payment choice for optimizing first-time and returning buyer experiences, with 86% of global business buyers reporting the ability to pay using their preferred payment method is essential. With TreviPay’s all-in-one payments, B2B merchants and marketplaces can now serve the entire spectrum of business buyers with TreviPay as their single payments vendor. Through integration, merchants can customize acceptance of card types, allowing business buyers to either pay upfront with a card, ACH or mobile wallet or pay later through net terms 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 payment modalities and consolidate reporting across payment types.”
A notable use case is the B2B retail industry, where credit cards are often the only online payment option. As trade credit or net terms are preferred by 85% of global business buyers, typically for higher spending or more frequent purchases, retailers can now accommodate both options through TreviPay’s all-in-one payments solution. Credit and debit card payments are supported for customers in the U.S., Canada, Mexico, UK, Europe and Australia in 16 payout currencies and 25-plus locations. TreviPay APIs also provide integrated reporting to systematically deliver daily reimbursement documentation and consolidated reporting for card and net terms payments and deposits at the marketplace and individual seller levels.
Additional technology capabilities now offered by TreviPay to bolster buyer loyalty include decentralized billing.: Sellers can create billing groups and sub-tiered accounts with separate legal entities to configure custom payment and billing options and apply individual credit limits. Contract price verification lets sellers define customer pricing tiers with specific SKU-level pricing details. TreviPay can cross-reference against contracted pricing with limited disruption.
Customized customer support allows sellers to define and rank buyers to customize support with white-glove services, such as offering extended net terms or assigning a dedicated support agent. Customer portal redesign improves navigation, usability and customer experience for buyers while offering export data capabilities.