TreviPay launches Small Business Supplier Network across the Americas
By Edlyn Cardoza
Global B2B payments and invoicing network TreviPay announced the launch of its Small Business Supplier Network (SBSN) across the United States, the industry’s payments network built for banks and their small business customers. Following TreviPay’s recent launches of specialised networks for large enterprises and midmarket businesses, the SBSN completes TreviPay’s objective to meet the needs of businesses of all sizes.
As a fully integrated, end-to-end payments network running in parallel with card payments, the SBSN enables banks to deliver a new white-labelled structured financial service to small business suppliers that sell to business and government entities on invoice payment terms. TreviPay has a legacy of being the preferred B2B payment method of thousands of corporate sellers and their buyers worldwide. It will partner with banks to empower small business suppliers to offer flexible payment terms to their customers while getting paid virtually in real-time and risk-free without incurring debt.
“Over the last 20 years, we have seen the small business trade credit market become increasingly stretched with cash flow pressure building to intolerable levels. This is especially true when small businesses are on both the extending and receiving end of trade credit,” said Rissi Lovern, Head of Small Business Markets at TreviPay. “With every recession or economic downturn, this phenomenon creates a long and arduous road to recovery. By combining the strength and reach of our financial institution members with TreviPay’s proven B2B payments network and our mutual care for the U.S. small business market, we can strengthen the backbone of small businesses.”
According to research commissioned by TreviPay, American small businesses with 100 or fewer employees extend approximately $5 Trillion in B2B trade credit to their business and government customers every year when allowing them to pay on invoice terms (e.g., net 30, 60, 90+ days) – the original “buy now, pay later.”
TreviPay’s SBSN allows member banks to expand their current small business product offerings by providing a safe and profitable way to tap into the largely unpenetrated small business B2B trade credit market, arguably the most significant growth opportunity for small business banking. With SBSN, member banks can customise their solution, define and support their go-to-market strategies, control and manage their risk policies, and set supplier fees while managing their established exposure targets, growth rates, and profitability. Additionally, by joining the SBSN, banks can launch this new product without capital investments or technology integrations.
“Our vision for the Small Business Supplier Network is to create the technological infrastructure and operating model to deliver a new structured financial solution capable of eliminating small business trade credit the same way the credit card networks virtually eliminated B2C trade credit for retailers,” said Lovern. “Working together, TreviPay and member banks have a real opportunity to transform the inefficient B2B trade credit market and give small businesses a better way to do business so they can re-secure their position in the U.S. economy.
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