European Compaynet Partners with TreviPay to Expand Embedded Payments Solution with B2B Trade Credit
Global financial technology company TreviPay today announced it has partnered with Compaynet Ltd, a global provider of payment processing solutions, to power its B2B trade credit offering. Furthering its mission to simplify e-commerce payments, Compaynet can now enable their clients to offer instant, embedded B2B credit terms to business customers.
In a recent study, 82 percent of B2B buyers would switch vendors if another vendor offered invoicing at checkout with 30 to 180-day terms. With TreviPay as its partner, Compaynet’s platform now includes an embedded trade finance solution to be able to meet this need for B2B buyers, in addition to alleviating cash flow constraints and streamlining the legacy accounts receivable and payable processes. For B2B sellers, offering trade credit as a payment method enables them to offload Accounts Receivable administrative functions, funding, and credit risk so that they can focus on running their business.
“Providing more flexible trade terms and streamlining the payments process for our business clients are important innovations that will help our clients remain competitive,” said Barry King, Director, Compaynet. “Our partnership with TreviPay will provide a financial value proposition for our customers’ balance sheets and support Compaynet’s growth in Italy, Australia, the United Kingdom and United States.”
The API-centric solution will improve the checkout experience, increase customer loyalty and support faster payments for merchants. As TreviPay assumes the risk from extending trade credit, sellers on the Compaynet platform are now able to preserve capital while still offering the ultimate convenience and security across all buying channels. This means that B2B merchants and manufacturers receive the benefits of extending credit terms without the burdens of debt collection or funding.
“As the only company in Europe offering large underwriting limits for B2B clients, establishing Compaynet as a long-term channel partner in Italy is an important milestone for TreviPay’s cross-border expansion strategy,” said Brandon Spear, CEO of TreviPay. “Working with Compaynet to support faster, more secure payments will enable more B2B businesses on the platform to focus on the strategic business decisions that will help them grow.”