Global B2B Payments Network TreviPay Adds Cross-Currency Feature

TreviPay has introduced a new feature that enables merchants to process cross-currency transactions for their B2B customers.

This development aims to facilitate global business growth and enhance buyer loyalty, the global B2B payments and invoicing network said in a Tuesday (Aug. 22) press release.

With operations in 32 countries and support for 20 currencies, TreviPay’s cross-currency solution allows transactions where the buyer wishes to be invoiced and pay in a currency different from the one disbursed to the merchant. The trade credit feature is particularly useful for merchants who may not have bank accounts in every preferred currency of their customers, according to the release.

TreviPay has found that an easy first payment and a consistent purchasing experience are among the top three important factors for business buyers, the release said. The firm also found that 72% of global business buyers are more loyal to a company that offers their preferred payment method.

The importance of cross-currency capabilities extends beyond industries like manufacturing and online retail, per the release. The travel sector, for instance, can benefit from the new feature. Consider a large-scale hotel chain with U.S.-based hotel franchisees. While most corporate travelers may be U.S.-based buyers, there will be instances where customers from outside the U.S. want to book and pay their invoices in a different currency, such as Canadian dollars (CAD). TreviPay’s solution allows American franchisees to enable foreign exchange (FX), allowing all Canadian travelers to make purchases in CAD without the need for separate business accounts in CAD for payout.

In addition to introducing cross-currency capabilities, TreviPay has also rolled out several portal improvements to enhance ease and efficiency for customers, according to the release. These enhancements include the ability to change primary customer contacts, update trusted device sign-ins, and expanded options for company buyer hierarchy capabilities.

As an increasing amount of B2B commerce moves online, all suppliers want to serve as many customers as they can, TreviPay CEO Brandon Spear told PYMNTS’ Karen Webster 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 at the time.

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