Albertsons to Offer Pay-by-Invoice Program for Business Buyers
Albertsons Cos. Inc. has teamed up with B2B payments and invoicing network TreviPay to offer a pay-by-invoice program to the grocer’s corporate shoppers. Business buyers such as small offices, K-12 schools, local government and community organizations, and residential programs can now receive a dedicated line of credit for online grocery purchases with 30-day net terms. The pay-by-invoice program features a convenient self-serve portal to assign spending limits to approved purchasers and real-time tracking of invoices, payments and credit lines for easier financial management. Albertsons’ partnership with TreviPay enables corporate shoppers to access their line of credit across the food retailer’s banners.
Business buyers want the flexibility of paying with trade credit, or net terms, to better manage working capital and form trusted relationships with retailers, according to TreviPay, which commissioned a Murphy Research study that found 72% of business buyers are more loyal to a business that offers their preferred payment methods, and more than half would switch to another retailer if it offers net terms.
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“Retailers are well versed in loyalty best practices for consumers, but to reach and retain business buyers, invoicing and payment terms are critical,” explained Brandon Spear, CEO of Orchard Park, Kan.-based TreviPay. “Enabling Albertsons Cos.’ business customers to pay by invoice allows their corporate buyers to make large, repeat orders using their preferred payment method, while retailers eliminate the complexities of accounts receivables and fuel growth.”
Under the partnership, Albertsons Cos. stores can automate their accounts-receivable processes for business purchases with real-time credit decisioning, electronic invoice generation and payment tracking to reduce billing errors and eliminate back-office resources. The food retailer no longer has to allocate resources to managing collections or worry about cash flow, since TreviPay settles funds immediately and owns any buyer credit risk. That time and capital can be reinvested into improving customer experiences that require interaction with an associate.
“Albertsons Cos. is committed to enhancing the purchasing experience and providing options for both small- and large-business customers,” said Anne Coyne, senior director of B2B strategy and growth at Albertsons Cos. “TreviPay’s invoicing program offers the control to customize purchasing hierarchies and the convenience of paying using credit lines, which we know are important to this buyer segment.”
Earlier this month, Albertsons Cos. expanded its business e-commerce platform to more than 2,000 stores, giving businesses of all sizes a seamless way to order food and breakroom supplies, as well as cleaning and paper products from their nearby food retailer.
As of Feb. 22, Albertsons Cos. operated 2,270 retail food and drug stores with 1,728 pharmacies, 405 associated fuel centers, 22 dedicated distribution centers and 19 manufacturing facilities. The Boise, Idaho-based company operates stores across 34 states and the District of Columbia under more than 20 well-known banners. Albertsons is No. 9 on The PG 100, Progressive Grocer’s 2024 list of top food and consumables retailers in North America. PG also named the company one of its Retailers of the Century.
