On Friday, September 24, Global FinTech TreviPay announced that it is entering the US fashion market as the API provider behind the trade credit offering for the online B2B fashion and apparel services platform. Flowfy.
Through the twinning, TreviPay will activate FlowPay, a digital payment process sold to fashion markets and offering settlement terms for sellers and trade capital for buyers.
“Providing long-term trade credit can be difficult for small and medium-sized fashion wholesalers, but fashion retailers rely on payment terms of 30 to 60 days to protect their cash flow,” Brandon said. Spear, CEO of TreviPay, in the joint announcement. “TreviPay’s one-stop payment solution for Flowfy will provide 30-second credit approval to fashion market buyers with a B2C-like experience. In addition, FlowPay protects market sellers from credit extension risk by providing reliable underwriting and settlements within two days.
Flowfy is integrated with the artificial intelligence (AI) -based B2B fashion marketplace Brandboom, which facilitates presentations between sellers and buyers. “Our goal is to continue to modernize and digitize the buyer-seller relationship in the marketplace as we recognize these growing needs in the fashion industry,” said Jesse Kim, director of Flowfy Commerce Service, in the announcement of the society.
“The partnership with TreviPay has allowed us to provide faster and more reliable payment terms to sellers while managing payment details and extending trade capital to buyers at a competitive rate – all of this is necessary to host an experience of frictionless payment, ”he added.
Related: Digital River and TreviPay Launch Easy B2B Payments for Lenovo
In June, Digital River and TreviPay partnered on a payment solution with Lenovo to drive frictionless commerce for B2B spaces.
By using Digital River Global Seller Services, B2B brands under the TreviPay umbrella can offer more efficient payment options, allowing buyers to pay on their preferred terms. TreviPay will allow users to get an extension of net terms and billing at checkout at Lenovo stores, where the solution is now available in the UK, Ireland, Germany and France.