TreviPay Launches Networks for Large, Small and Mid-Sized Businesses

B2B payments and invoicing firm TreviPay has launched specialized networks geared toward businesses of every size.

According to a Wednesday (July 20) news release, the launch includes three networks, among them the Private Network, which allows large enterprise sellers to build “closed, branded trade credit networks with invoice-based purchasing across all channels for all their customers.”

Meanwhile, the TreviPay Network is similar to the Private Network but is designed for midmarket companies that want to “offer instant trade credit and invoicing for business buyers but don’t need a branded solution,” the Kansas company said.

Finally, the soon-to-be-launched Small Business Supplier Network lets banks offer small businesses flexible payment terms for their customers while doing away with bad debt risk and freeing up capital.

TreviPay CEO Brandon Spear said the networks would help clients by automating complicated billing and streamlining accounts payable and accounts receivable workflows.

“In much the same way PayPal developed a network on the periphery of the Visa and Mastercard world, TreviPay has created a parallel payments network specifically designed for B2B payments and invoicing,” said Spear. “Creating the same ‘network effect’ in B2B commerce will optimize trade and loyalty.”

Read more: Business Buyers Want ‘Uber-Like’ Payments Simplicity

PYMNTS spoke to TreviPay Chief Revenue Officer Jeff Coppolo recently about the way B2B buyers have begun to expect a business-to-consumer (B2C) eCommerce experience.

“The expectation of the buyer is just like that of a consumer — they’re sky high,” Coppolo said. “and we’ve got to produce a payment system and a payment experience that is very Uber-like in the B2B world.”

It’s one dramatic shift reshaping B2B eCommerce, he said. And it’s a difficult one, as payments in the space are much more complex than on the consumer side — with added steps around underwriting, back-end reconciliation and settlement.

“There are traditional processes within the B2B payments world and transaction world that all need to be sort of automated and digitized — and that’s all happening,” Coppolo said. “There are many companies moving into the space, TreviPay included, trying to solve for all that complexity.”

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