Albertsons to provide 30-day line of credit to business customers

Albertsons Cos. is letting corporate shoppers pay for purchases via invoice.

The Idaho-based grocery conglomerate is rolling out the TreviPay Pay by Invoice solution to enable business buyers, including small offices, K-12 schools, local government and community organizations and residential programs, to receive a dedicated line of credit for online grocery purchases with 30-day net terms. 

The Albertsons pay by invoice program includes a self-serve portal to assign spending limits to approved purchasers and real-time tracking of invoices, payments and credit lines.

"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 business-to-business 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."

Through the partnership, stores across Albertsons Cos. banners can automate their acounts receivable processes for business purchases with real-time credit decisioning, electronic invoice generation and payment tracking, with the goals of reducing billing errors and eliminating back-office resources. TreviPay settles funds right away and owns any buyer credit risk. 

"Retailers are well-versed in loyalty best practices for consumers, but to reach and retain business buyers, invoicing and payment terms are critical," said Brandon Spear, CEO of 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."