In a significant development for the B2B payments landscape, TreviPay, a leader in B2B payments and invoicing networks, in collaboration with Mastercard, has unveiled the new ‘Universal Acceptance’ solution. This innovative offering is set to revolutionize supplier access to advanced payment and invoicing technology.
The Universal Acceptance solution empowers suppliers who already accept Mastercard payments to offer net terms financing and detailed SKU-level invoicing to business buyers. This is a leap forward in addressing the three major challenges faced by global business buyers: inefficiency, incorrect invoicing, and slow onboarding processes. Research commissioned by TreviPay highlights trade credit as a preferred payment method among business buyers.
Brandon Spear, CEO of TreviPay, emphasized the transformative nature of this technology, stating, “Our technology is designed to simplify B2B purchasing, offering a consumer-like experience while meeting the specific needs of business buyers. Partnering with Mastercard for the Universal Acceptance solution is a milestone in making TreviPay, a leading B2B payment method, more accessible globally. This partnership is a step towards revolutionizing business transactions by providing flexible payment terms to more buyers.”
By leveraging Mastercard’s extensive global acceptance network and commercial card payment capabilities, suppliers can offer approved buyers a net-terms card for purchases. This integration combines the convenience of credit card transactions with the auditability and control associated with trade credit.
Additionally, the TreviPay platform automates invoice delivery to buyers, mitigating the hassle of chasing payments and guaranteeing upfront settlement to merchants.
Rebecca Meeker, Senior Vice President, Global Partnerships and Segments at Mastercard, shared, “Our collaboration with TreviPay is a testament to our commitment to enhancing B2B transactions. Together, we aim to provide consumer-grade convenience in B2B transactions, offering variable financing options, seamless invoice reconciliation, and faster settlement.”
The Universal Acceptance solution is a versatile addition to TreviPay’s offerings, enabling implementation for suppliers either through direct API integration at the point of sale or through Mastercard’s network, without API integration.
This announcement follows the recent launch of TreviPay’s ‘Financial Partner Gateway’, a suite of APIs for financial institutions. The Universal Acceptance solution further expands TreviPay’s global presence and enhances the payment experience for suppliers.
For more details on the Universal Acceptance solution by TreviPay, visit their website.
