TreviPay has partnered with Harbor Freight Tools to provide the retailer with a commercial account program and credit card.
TreviPay provides B2B payment and invoicing services. The TreviPay commercial program with Harbor Freight Tools features:
- Detailed invoicing
- Payment by purchase order
- Access to a client/buyer portal for ease of invoice review and payment
The credit card will offer commercial payment terms, purchase tracking and authorized purchaser controls.
The closed-loop card, which TreviPay will issue, is expected to help Harbor Freight improve the customer experience, create a point of differentiation for the retailer and build customer loyalty, TreviPay says.
TreviPay meets Harbor Freight Tools
Research by TreviPay reveals 72% of global business buyers are more loyal to a business that offers their preferred payment methods. 61% of buyers say trade credit or net terms is their most common way to pay for B2B purchases.
“B2B retailers face immense competition, amplifying the need to offer payment solutions to be competitive, drive revenue and support customer loyalty,” says TreviPay chief executive Brandon Spear. “More commonly, business customers expect to purchase with trade credit (or net terms) and will spend more frequently when they have a dedicated financial relationship and credit line with a business. From TreviPay’s experience, the introduction of the Harbor Freight Tools commercial account will enable scalability of its commercial program.”
Harbor Freight operates more than 1,400 stores in 48 states. It will begin rolling out the card for in-store purchases. Eventually, it will expand its use for ecommerce purchases. Harbor Freight customers can apply for the card on the retailer’s web site. TreviPay will handle the risk assessment and underwriting evaluation for qualified applicants.
“TreviPay’s vast industry expertise and flexibility in creating a custom payments solution for these customers were key in selecting them for our B2B payments and invoicing needs,” Alex Aguila, senior director of customer growth for Harbor Freight Tools says in a statement. “Our goal is to provide quality tools at great value to all our customers. We are excited to partner with them to provide all the benefits of real-time credit decisioning, stellar fraud mitigation and a seamless checkout experience to our corporate and institutional customers.”
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