Dock & Bay joins the TreviPay payment network

B2B payment and credit management company TreviPay announced in a Tuesday, June 28 press release that lifestyle products wholesaler Dock & Bay (D&B) has joined its payment and billing network.

The link means authorized retailers can choose TreviPay as a payment method when checking out on D&B’s online store, making larger orders easier for business buyers, according to the release. After completing the transaction, retailers will receive an invoice with their established terms.

D&B’s wholesale customers can place orders without having to pay by credit card or pre-finance orders, which negatively affects cash flow, the statement said.

“Companies that embrace digital expectations and implement payment solutions designed for B2B and its complexities are poised to deliver a better customer experience,” TreviPay CEO Brandon Spear said in the release. “By joining the TreviPay payment and billing network, Dock & Bay can successfully offer Trade Credit, a preferred and more convenient payment method for B2B transactions.”

The integration allows D&B to offer an instant trade credit line, while TreviPay takes responsibility for risk assessment and underwriting, according to the statement.

“This means D&B is always paid on time, even if its B2B buyers are in default,” the statement said. “D&B eliminated [days sales outstanding (DSO)] and the need to allocate resources to chase down unpaid bills. TreviPay’s [application programming interface (API)]- its first design allowed it to be quickly and seamlessly integrated into the D&B online sales channel. »

D&B first became known for its line of beach towels, but has since branched out to offer beachwear, beauty accessories and fitness products, according to the release.

D&B co-founder Ben Muller added in the statement that the company wants to offer customers a deferred payment option, in line with the buy now, pay later (BNPL) trend in B2C retail. .

The news comes at a time when 65% of B2B companies are offering e-commerce capabilities that allow customers to pay online, up from 53% a year ago, according to “The Treasurer’s Guide to AR Payment Optimization,” a collaboration between PYMNTS and CheckAlt.

Read more: 65% of B2B companies offer fully digital e-commerce capabilities

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NEW PYMNTS DATA: THE CUSTOM PURCHASING EXPERIENCE STUDY – MAY 2022

About: PYMNTS’ survey of 2,094 consumers for The Tailored Shopping Experience report, a collaboration with Elastic Path, shows where merchants are succeeding and where they need to up their game to deliver a personalized shopping experience.

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