TreviPay and Spryker Enter Strategic Collaboration To Offer Payment Choices

CIOTechOutlook Team | Monday, 01 May 2023, 11:18 IST

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At B2B Online Chicago 2023, TreviPay and Spryker, a top enterprise commerce platform for complex B2B, enterprise marketplace, and thing commerce use cases, announced their partnership to integrate TreviPay's global B2B payments and invoicing network into Spryker's online marketplace and commerce platform. TreviPay is now available for integration by merchants as part of Spryker's composable commerce offering, which enables companies to choose best-of-breed solutions and create a highly customised tech stack. This allows merchants to offer choice and convenience to customers while automating accounts receivable for their business clients.
 
Digital commerce vendors continue to look for adaptable, secure, and knowledgeable technology partners in order to future-proof payment experiences and increase customer loyalty. By providing payment terms, open credit, and digital invoicing, retailers facilitate and speed up the purchasing process for customers. In fact, TreviPay study shows that 74% of B2B buyers would shop at a rival website if their vendor's eCommerce store could not meet their demands as a customer. 
 
Offering trade credit with TreviPay will boost cash flow for B2B merchants and free up their working capital for additional value-creating operations, with a focus on loyalty-building payment experiences.
 
“To best support the digitization of B2B transactions, sellers must meet today’s buyer expectations of having payments choice at checkout without sacrificing operational efficiency,” said Brandon Spear, CEO of TreviPay. “Our strategic partnership with Spryker’s composable platform will help merchants simplify the purchasing process for their business buyers with B2B-specific checkout APIs to incorporate trade credit and automated invoicing functions.”
 
The TreviPay connection will allow Spryker's B2B clients to offer a wider range of payment options and convenient invoicing options at the point of sale, keeping up with B2B buyer expectations that businesses provide smooth payment experiences. Joining TreviPay's worldwide invoicing network enables merchants to expand marketplace sales into new regions while reducing cross-border complexity and automatically meeting regulatory standards.
 
“B2B businesses require innovative solutions to address buyer preferences and their evolving digital purchasing needs,” said Manishi Singh, SVP App Composition Platform at Spryker. “We are excited to partner with TreviPay whose B2B payments expertise, customization and scalability will help our enterprise customers boost sales and loyalty.”
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