TreviPay and Mastercard have partnered to unveil a groundbreaking Universal Acceptance solution tailored specifically for their B2B payments and invoicing ecosystem.
This innovative solution is poised to revolutionize how suppliers interact with TreviPay’s cutting-edge payments and invoicing technology. By granting suppliers enhanced access, it enables them to extend net terms or trade credit financing options to their clientele, while also providing SKU-level invoicing capabilities. A press release issued on Tuesday (Jan. 16) highlighted these advancements.
The Universal Acceptance solution is strategically crafted to address three primary pain points encountered by corporate buyers globally: cumbersome processes, billing inaccuracies, and slow onboarding procedures. Furthermore, it aims to simplify the adoption of trade credit, a preferred payment method among corporate buyers.
With TreviPay’s Universal Acceptance solution, suppliers currently accepting credit cards can seamlessly offer net-term financing to approved buyers. This system optimizes the buyer onboarding process, financing arrangements, and accounts receivable (AR) operations, thereby enhancing backend functions and improving payment efficiency.
By leveraging Mastercard’s extensive global acceptance network and expertise in commercial card payments, TreviPay empowers suppliers to issue net-terms cards to approved purchasers for transactions. This integration combines the convenience of credit card transactions with the accountability and purchasing controls inherent in trade credit arrangements.
Following this announcement, the TreviPay platform automates the dispatching of invoices to buyers, reducing the expenses associated with pursuing overdue or delayed payments. TreviPay takes on all collection risks and guarantees upfront payouts to merchants, ensuring smoother financial operations for all parties involved.
This collaboration between TreviPay and it’s marks a significant step forward in the realm of B2B payments and invoicing. By providing suppliers with enhanced access to cutting-edge technology and enabling seamless transactions, the Universal Acceptance solution sets a new standard for efficiency and convenience in the industry.
Corporate buyers stand to benefit greatly from this partnership, as they will experience streamlined processes, greater accuracy in billing, and faster onboarding procedures. Moreover, the adoption of trade credit as a preferred payment method offers additional flexibility and purchasing power to buyers, further enhancing their overall experience.
In conclusion, the TreviPay and Mastercard partnership represents a game-changer in the B2B payments landscape. By addressing key pain points and introducing innovative solutions, they are reshaping the future of business transactions and paving the way for a more efficient and seamless payment experience for all parties involved.
