TreviPay Helps Compaynet Power B2B Trade Credit

B2B payment and credit management company TreviPay has teamed up with payment processor Compaynet to power its B2B trade credit product.

“Furthering its mission to simplify e-commerce payments, Compaynet can now enable their clients to offer instant, embedded B2B credit terms to business customers,” TreviPay said in a news release Tuesday (May 17).

The company points to a recent study that showed 82% of B2B buyers would switch to a new vendor if that vendor offered invoicing at checkout with 30 to 180-day terms.

By working with TreviPay, Compaynet — based in the U.K. and Italy — can now offer an embedded trade finance solution to these B2B customers, letting them offload accounts receivable administrative functions, funding and credit risk so that they can spend more time focusing on 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 Compaynet Director Barry King. “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 company adds that its API-centric solution will make for a better checkout experience, improve customer loyalty and provide faster payments for merchants.

As TreviPay assumes the risk from extending trade credit, sellers on the Compaynet platform can preserve capital while still offering convenience and security across buying channels. B2B merchants and manufacturers can enjoy the benefits of extending credit terms without the worrying about debt collection or funding.

See also: Fear and the Unknown Are Slowing B2B Growth

PYMNTS collaborated with TreviPay recently on the report “Risk and Resilience,” based on a survey of executives at multimillion/billion-dollar companies in the retail, manufacturing and marketplaces sectors.

We found that a recent proliferation of fraud in the (B2B) space has led to tangible negative outcomes for many companies, hamstringing their B2B business development.

In fact, 54% of retailers and 44% of manufacturers fail to accept new customers due to fraud concerns, while nearly half (47%) of businesses surveyed were said they were unable to onboard clients out of fear of fraud and that their anti-fraud measures would be insufficient.