TreviPay has partnered with Mastercard to offer a universal acceptance solution for its B2B payments and invoicing network.
This solution aims to provide suppliers more access to TreviPay’s payments and invoicing technology, allowing them to offer net terms or trade credit financing to business buyers, as well as SKU-level invoicing, according to a news release released Tuesday (Jan. 16).
According to the statement, the Universal Acceptance solution aims to solve three of the most prevalent pain points for global corporate buyers: inefficient procedures, inaccurate invoicing, and slow onboarding. It is also designed to make trade credit, a common payment option among firm purchasers, more accessible.
TreviPay’s Universal Acceptance technology allows providers that already accept credit cards to easily offer net-term loans to qualified customers. This solution streamlines buyer onboarding, financing, and accounts receivable (AR) procedures, which improves back-office operations and payment efficiency.
TreviPay, which uses Mastercard’s global acceptance network and commercial card payment capabilities, enables suppliers to provide approved buyers with a net-terms card for purchasing, according to the release. This combines the convenience of a credit card checkout with the auditability and purchase limits of trade credit.
According to the statement, the TreviPay platform would automatically disseminate invoices to customers, reducing the costs associated with chasing outstanding or late payments. TreviPay assumes any collection risk and guarantees the merchant’s upfront payment.
