News from the Wire

Dock & Bay joins TreviPay’s payments and invoicing network

Tuesday, June 28, 2022 — 13:11:22 (EDT)

OVERLAND PARK, Kan., June 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.”

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Source: Company press release.