Fashion Wholesaler Dock & Bay (D&B) Partners with TreviPay to Offer Line of Credit to B2B Buyers
OVERLAND PARK, Kan.--(BUSINESS WIRE)--Jun 28, 2022--
Global financial technology company TreviPay today announced that Dock & Bay (D&B), a sustainable wholesaler that started with a quick-drying beach towel and has expanded to a wide-range of lifestyle categories including camping, fitness and beauty, has joined TreviPay’s Payments and Invoicing Network. Approved retailers will be able to select TreviPay as a payment method when checking out on D&B’s online store, making large orders quick and easy for business buyers. In completing the transaction, retailers will receive an invoice with their established terms for added payment convenience and flexibility.
To meet B2B customer expectations for payment terms, D&B chose TreviPay to quickly launch a payment and invoicing network that enables them to build more profitable and loyal trading relationships with its buyers. D&B wholesale customers can now place larger orders without the need to pay by credit card or to pre-fund orders, which negatively impacts cashflow.
“Companies that embrace digital expectations and implement payment solutions designed for B2B and its complexities are poised to provide a better customer experience,” said Brandon Spear, CEO of TreviPay. “By joining TreviPay’s Payments and Invoicing Network, Dock & Bay can successfully offer trade credit, a preferred and more convenient payment method for B2B transactions.”
D&B can offer a line of instant trade credit, a payment method specifically designed for B2B buyers and sellers, to its wholesale customers while leaving responsibility for risk assessment and underwriting to TreviPay. This means that D&B is always paid on time, even if its B2B buyers default on a payment. D&B eliminated DSO and the need to allocate resources to chase unpaid invoices. TreviPay’s API-first design meant it was quickly and seamlessly integrated into D&B’s online sales channel.
“We wanted to create a competitive advantage by offering our B2B customers a deferred payment option, similar to the rising BNPL trend in B2C retail today,” said Ben Muller, Dock & Bay Co-Founder. “With TreviPay’s experience in industry-leading technology and trade credit underwriting with a strong international footprint, D&B can now meet our wholesale customers’ unmet need for flexible payment terms, without using our own valuable working capital.”
TreviPay is the global B2B payments and invoicing network built to optimize trade between buyers and sellers. With more than four decades of experience building networks, TreviPay is the preferred B2B payment method of corporate buyers and sellers globally, processing $6 billion in transaction volume across 32 countries, 19 currencies and 90,000 active buyers. TreviPay gives clients the power to offer trade credit, and is trusted by major brands – with 80,000 selling locations – to deliver invoices with net terms and guaranteed payment across all sales and distribution channels. TreviPay has created the only fully managed payment and invoicing network to support B2B commerce of the future. For more information, visit trevipay.com.
About Dock & Bay
Dock & Bay launched in 2015 with the aim of creating the ultimate quick dry beach towel. Now they make not only that, but a range of innovative, high quality, affordable and sustainable products that people just can’t seem to get enough of.
View source version on businesswire.com:https://www.businesswire.com/news/home/20220628005421/en/
CONTACT: Tara Strazdas
The Fletcher Group
KEYWORD: KANSAS UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: PAYMENTS ACCOUNTING PROFESSIONAL SERVICES TECHNOLOGY ONLINE RETAIL FINTECH RETAIL BUSINESS
Copyright Business Wire 2022.
PUB: 06/28/2022 09:00 AM/DISC: 06/28/2022 09:02 AM