TreviPay, known as the most trusted B2B payments and invoicing network, has partnered with Mastercard, a leader in global payments and technology. Through the deal, TreviPay is introducing its Universal Acceptance solution. This initiative aims to extend supplier access and expedite the implementation of TreviPay’s innovative payments and invoicing technology.
This strategic alliance addresses the primary challenges faced by global business buyers – inefficient processes, incorrect invoicing, and slow onboarding, as highlighted in a study commissioned by TreviPay. By leveraging Mastercard’s commercial card payment capabilities, suppliers accepting Mastercard can now offer trade credit financing and SKU-level invoicing to business buyers through the Universal Acceptance solution.
TreviPay specializes in automating buyer onboarding, financing, and accounts receivable processes. This automation drives payment efficiencies and streamlines time-consuming back-office operations. On the other hand, Mastercard, a global giant in the payment sector, provides extensive commercial card payment capabilities and a worldwide acceptance network, crucial to this partnership.
The partnership signifies an industry milestone, merging TreviPay’s B2B payment methods with Mastercard’s network to offer flexible extended payment terms to more buyers. Suppliers can now provide a net-terms card for purchasing, combining credit card checkout convenience with the auditability of trade credit. The TreviPay platform also ensures direct invoice delivery to buyers, assuming the risks of collection and guaranteeing upfront settlement to merchants.
TreviPay CEO Brandon Spear 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 Universal Acceptance marks an industry milestone in expanding access to TreviPay, a leading B2B payment method of corporate sellers and their buyers globally. Together we are revolutionizing how businesses can transact by bringing flexible extended payment terms to more buyers.”
Rebecca Meeker, Senior Vice President, Global Partnerships and Segments, Mastercard, said, “Mastercard is committed to building industry partnerships that help suppliers better meet the purchasing needs of their B2B customers and drive loyalty.
“With a shared vision to bring consumer-grade convenience to B2B transactions, we are proud to deepen our collaboration with TreviPay as they facilitate variable financing options, seamless invoice reconciliation and faster settlement when using cards on our network.”
Keep up with all the latest FinTech news here.
Copyright © 2023 FinTech Global
