TreviPay Acquires B2B Payments Network Baton

Payment and credit management company TreviPay has acquired Baton Financial Services, a B2B invoice payments network.

The Kansas-based company announced the deal in a news release Wednesday (Feb. 23), saying it was part of its plan to broaden its B2B offerings.

TreviPay said the acquisition will let it offer trade credit to customers without the risk, delay in payments and complexities connected to with managing accounts receivable.

“As liquidity continues to be a challenge for small businesses, the ability to extend trade credit helps free up cash flow while building customer loyalty and maintaining competitive B2B market share,” the company said.

TreviPay said Baton brings a wealth of expertise in helping small businesses with sustainable lending and the associated risk management. Under the terms of the deal, Baton CEO Rissi Lovern will become TreviPay’s new chief risk officer.

“As small businesses emerge from the pandemic, they will need capital to carry them forward. Unfortunately, traditional loans and financing are not readily available,” said Lovern. “A business’s best source of capital is often hidden in its balance sheet, in accounts receivable.”

Read more: Trade Credit, Electronic Invoices Can Be B2B Loyalty Plays

PYMNTS spoke last year with TreviPay CEO Brandon Spear about the widespread shift towards a digital-first approach to payments. That shift has come to mean that B2B customers have come to expect the B2C-like experiences that they enjoy in their everyday lives.

Spear said he sees his customers increasingly wanting to curate the entire experience for their own customers, vendors or business partners.

“What that means for service providers like us is that you really have to expose everything you do through services or application programming interfaces,” he said, “so the end customer can insert your capabilities at the right points in the relationship they have with their customer.”