Global B2B payments and invoicing network TreviPay debuted on Wednesday (Oct. 18) its Financial Partner Gateway.
This suite of application programming interfaces (APIs) allows financial institutions to expand their commercial offerings, providing automated accounts receivable, underwriting and trade credit management solutions to their large commercial clients.
With the Financial Partner Gateway, banks can now enable their commercial merchant clients to offer buyers the choice to pay with trade credit or opt for payment terms of 30, 60, or 90 days. Following a transaction, the banking partner will then settle with its clients. This solution streamlines time-consuming back-office processes for enterprises, providing cash flow and receivables management support. Additionally, TreviPay’s proprietary risk management system can assist with underwriting and fraud prevention at the financial institution’s discretion.
Michael Noble, VP of Strategic Partnerships at TreviPay, said, “Our unique offering opens a new revenue stream for our banking partners who are looking to help optimize the payment experience offered by their commercial clients. Working together, the Financial Partner Gateway enables banks to deliver a significant value-add for enterprises while allowing TreviPay to expand its global footprint through modern API-based software.”
The Financial Partner Gateway benefits banks serving commercial clients and represents a growth and expansion opportunity for TreviPay. Trade credit facilitated by the Financial Partner Gateway is funded by the partner bank, granting them control over funding and credit decisions while leveraging TreviPay’s onboarding and invoicing capabilities. Furthermore, by partnering with in-market banks, TreviPay can integrate its offering into markets where it currently does not operate, expanding its multinational footprint.
In August, TreviPay debuted a tool that allows merchants to process cross-currency transactions for their B2B customers.
Brandon Spear, CEO of TreviPay, emphasized the company’s commitment to innovation and efficiency, stating, “With more than 40 years of experience in B2B payments and invoicing, TreviPay is proud to continue uncovering opportunities to integrate our innovations into banking clients and drive new efficiencies for enterprises around the world. The TreviPay Financial Partner Gateway offers the tools for financial institutions to empower their business clients to offer flexible payment terms for customers, all while building loyalty and driving retention.”