The company’s Pay By Invoice is powered by B2B payments platform TreviPay and allows eligible business customers to access a line of credit with 30-day net terms for online, in-app and in-store purchases, TreviPay said in a Tuesday (Sept. 16) press release.
The program uses TreviPay’s payments and accounts receivable automation technology, according to the release.
The technology delivers improved conversion for merchants via artificial intelligence-enhanced underwriting; streamlined onboarding, invoicing and collections; and greater control, visibility and cash flow, per the release.
TreviPay CEO Brandon Spear said in the release that Pay By Invoice makes it easy for companies to buy and pay.
“The biggest opportunity in retail now is in B2B,” Spear said. “Companies that capture this valuable segment will win with flexible payment options that integrate directly into the buying experience and maintain efficiency and control for the buyer.”
Advertisement: Scroll to Continue
Payment optionality gives suppliers access to a broader buyer community that might otherwise have been hard to capture because they want payment options, Spear told PYMNTS in an interview posted in August 2022.
“If you’re a supplier, dropping a broader range of options into your payment offerings delivers a more turnkey customer experience for the buyer,” Spear said.
In its own article about the TreviPay-powered Pay By Invoice capability, Walmart Business said the offering is fully integrated into the Walmart Business experience to make it easy to purchase and pay.
The company said this is Walmart’s first B2B omnichannel payments capability and that it will gather feedback during the pilot phase, refine the experience and then expand access to Pay By Invoice to more customers in the coming months.
“Our goal is to be the provider of choice by offering not only the right assortment at great prices, but also tools, insights and solutions to help organizations operate efficiently and grow,” Walmart Business said in its article. “That’s why we’re excited to pilot Pay By Invoice—a new option designed to give our customers greater flexibility and control over how they pay.”
Walmart launched Walmart Business in January 2023, saying this B2B procurement website aimed to provide simpler purchasing and lower costs to the retailer’s small- to medium-sized business (SMB) and nonprofit customers.
For all PYMNTS B2B coverage, subscribe to the daily B2B Newsletter.
