UK-based fashion wholesaler Dock & Bay (D&B) has joined TreviPay’s Payments and Invoicing Network to offer a line of credit to B2B buyers.
Approved retailers will be able to select TreviPay as a payment method when checking out on D&B’s online store. In completing the transaction, retailers will receive an invoice with their established terms for added payment convenience and flexibility.
To meet B2B customer expectations for payment terms, D&B chose TreviPay to quickly launch a payment and invoicing network that enables them to build more profitable and loyal trading relationships with its buyers. D&B wholesale customers can now place larger orders without the need to pay by credit card or to pre-fund orders, which negatively impacts cashflow.
TreviPay’s officials stated that companies that embrace digital expectations and implement payment solutions designed for B2B and its complexities are poised to provide a better customer experience. By joining TreviPay’s Payments and Invoicing Network, Dock & Bay can successfully offer trade credit, a payment method for B2B transactions.
D&B can offer a line of instant trade credit, a payment method specifically designed for B2B buyers and sellers, to its wholesale customers while leaving responsibility for risk assessment and underwriting to TreviPay. This means that D&B is always paid on time, even if its B2B buyers default on a payment. D&B eliminated DSO and the need to allocate resources to chase unpaid invoices. TreviPay’s API-first design meant it was quickly and seamlessly integrated into D&B’s online sales channel.
Source: Fintech Australia
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