TreviPay, the B2B payments and invoicing network, announced Albertsons Companies, Inc. will offer Pay by Invoice with TreviPay to its corporate shoppers.
Business buyers, including small offices, K-12 schools, local government and community organizations and residential programs, can “receive a dedicated line of credit for online grocery purchases with 30-day net terms.”
The pay by invoice program includes a “self-serve portal to assign spending limits to approved purchasers and real-time tracking of invoices, payments and credit lines for streamlined financial management.”
Business buyers expect the flexibility of paying “with trade credit, or net terms, to better manage working capital and establish trusted relationships with retailers.”
Payment choice is so important that a Murphy Research study, on behalf of TreviPay, found 72% of business buyers “are more loyal to a business that offers their preferred payment methods, and more than half would switch to a different retailer if it offers net terms.”
For convenience, the partnership with TreviPay allows corporate shoppers to access their line of credit “across Albertsons Companies’ banners including Albertsons, Safeway, ACME, Jewel-Osco, Shaw’s, Star Market, Vons, Pavilions, Tom Thumb and Randall’s.”
Brandon Spear, CEO of TreviPay said:
“Retailers are well-versed in loyalty best practices for consumers, but to reach and retain business buyers, invoicing and payment terms are critical. Enabling Albertsons Cos.’ business customers to pay by invoice allows their corporate buyers to make large, repeat orders using their preferred payment method, while retailers eliminate the complexities of accounts receivables and fuel growth.”
Through the partnership, Albertsons Cos. stores can “automate their A/R processes for business purchases with real-time credit decisioning, electronic invoice generation and payment tracking to reduce billing errors and eliminate back-office resources.”
The retailers no longer have to allocate resources to “managing collections or worrying about cash flow as TreviPay settles funds right away and owns any buyer credit risk.”
That time and capital can be reinvested into “enhancing customer experiences that require a human touch.”
Anne Coyne, Senior Director of B2B Strategy and Growth at Albertsons Cos. said:
“Albertsons Cos. is committed to enhancing the purchasing experience and providing options for both small and large business customers. TreviPay’s invoicing program offers the control to customize purchasing hierarchies and the convenience of paying using credit lines, which we know are important to this buyer segment.”
At TreviPay, they believe loyalty “begins at the payment.”
By understanding the requirements of B2B sellers, TreviPay’s global B2B payments and invoicing network “enables enterprises to provide payments choice and convenience, open new markets and automate accounts receivables.”
As noted in the update, TreviPay explains that it serves those looking to build loyalty “while driving efficiency and embracing new digital channels, especially in industries with large distribution networks such as manufacturing, retail and transportation.”