TreviPay Mobile App Digitizes Pay-Later Experience for B2B Customers
One-click access to B2B credit in store will eliminate the need for credit cards and paper receipts, boost security and drive preference and loyalty
OVERLAND PARK, Kan., Aug. 11, 2021 /PRNewswire/ -- TreviPay, a global financial technology company, today announced the release of its one-click mobile payments app for B2B buyers. The TreviPay mobile app is an industry milestone towards the complete digitization of B2B payments by allowing merchants to offer a mobile app payment experience to their pre-approved B2B credit customers. The app allows buyers to access their buy-now-pay-later (BNPL)/trade financing in-store via an intuitive mobile app, eliminating the need and fraud risk of issuing multiple credit cards to numerous purchasers within the organization. Additionally, merchants can offer instant, digital invoicing within the app to provide their B2B buyers with a simpler experience versus paper receipts and manual invoicing.
Improving payment options, speed and terms has the potential to drive customer and operational benefits. Leveraging TreviPay's new white label app, its clients can offer B2B buyers a digital payment experience and BNPL flexibility similar to the B2C purchasing experiences many people have grown to prefer. In one click, B2B customers can access their pre-authorized credit line by generating a unique code to be scanned at point-of-sale. Purchase details/terms are then stored in the app's convenient purchase history and sent directly to the buyers' company, offering buyers the same immediate gratification as a contactless B2C transaction.
Recent research conducted with Forrester Consulting showed that more than sixty percent of payments decisionmakers within merchant companies cited their most urgent customer concerns as increased scrutiny on security and fraud prevention, more digital payment options, and more flexible payment terms – all of which are offered through the new mobile application, including two-factor authentication (2FA).
"TreviPay simplifies the complexities of B2B commerce, making it indistinguishable from B2C experiences for the buyer," said Brandon Spear, CEO of TreviPay. "Retailers are facing immense competition in the post-COVID economy, which has amplified the need to offer payment solutions that will drive revenue and customer loyalty. Our new mobile app allows one-click access to BNPL, instant invoicing and increased security, so our merchant partners can make it easy for their B2B buyers to pay on their terms, in the channel they prefer and with no need for POS hardware upgrades."
As contactless, digital payments continue to rise, the TreviPay mobile application can replace the need for physical plastic cards in the growing B2B space where sales are projected to reach $1.2 trillion USD in 2021, up from $889 billion USD in 2017[1]. Additionally, to better attract and retain B2B customers, offering a digitized BNPL solution provides payments flexibility in the sought-after speed and security of a B2C-like experience. According to the same Forrester research study, more than ninety percent of merchants expect that improving payment options for B2B customers will improve customer satisfaction, speed up transactions, free up internal resources, and increase business success - showing an inherent need for B2B sellers to adapt payments processes.
TreviPay's first partner of its one-click mobile app solution for B2B buyers is Staples Canada, which is leveraging the new offering at staples.ca, staplespreferred.ca, and at over 300 stores across Canada. Staples Canada's authorized purchasers are now able to shop seconds after credit downloading the Staples Commercial Account app rather than waiting for a physical card to arrive in the mail.
"The Staples Commercial Account app powered by TreviPay has already seen strong uptake and success for our in-store B2B customers in the first few weeks post-integration," said David Boone, CEO of Staples Canada. "By enhancing the B2B purchasing experience at online check-out and in-store point-of-sale, we continue to elevate technology in order to make shopping with us much easier for thousands of our business customers."
To learn more about the TreviPay mobile solution, visit the TreviPay website.
About TreviPay
TreviPay is a global financial technology company specializing in complete digitization of B2B payments through secure trade financing to drive enhanced customer loyalty. We support merchants by streamlining the purchasing experience and supporting increased customer interaction in B2B Commerce, facilitating $6 billion USD in transactions per year in 18 currencies for customers in more than 27 countries. To learn more about TreviPay, please visit TreviPay.com.
[1] Statista. B2B e-commerce sales in the United States from 2017 to 2021: https://www.statista.com/statistics/540658/projected-b2b-e-commerce-volume-usa/
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Alissa Liotti
The Fletcher Group
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SOURCE TreviPay
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