Payment solution offers B2B buyers more flexibility at the online checkout
To scale their international B2B sales, Lenovo wanted to offer buyers a seamless and flexible way for their business buyers to pay for their computers and accessories. With Digital River as their partner, Lenovo launched TreviPay on their LenovoPRO B2B online stores in 14 countries.
With TreviPay, Lenovo has a world-class, scalable, branded online payment program that offers buyers the ability to pay by purchase order (PO) with net terms at checkout – known to their buyers as InvoiceMe.
TreviPay provides Lenovo’s B2B buyers with a streamlined, consumer-like purchasing experience, removing the friction typically experienced in business buying. The online payment experience is entirely localised for buyers. From the initial buyer application through payment, buyers have everything they need online through a dedicated buyer portal. The program streamlines accounting operations for both Lenovo and its business buyers. As a result, Lenovo cultivates stronger buyer loyalty and repeat purchases, while freeing up cashflow and scaling their B2B programs globally.
Offering TreviPay as a payment option doubled average order values (AOV) across LenovoPro sites and recognized AOVs that were 4.5 times greater than the other Lenovo online orders. TreviPay demand has been high for Lenovo B2B buyers and continues to grow. In October 2021, TreviPay represented a 12% payment share, a 100% increase from the previous month and represented 16% of Lenovo’s total online revenue.
Commenting on the TreviPay program, Angus Cormie, Director, EMEA ecommerce at Lenovo, said “The payment solution provided by Digital River and TreviPay opened up new opportunities for us in the B2B space. By giving buyers more control over their cash flow and streamlining the accounting process, we can provide them with the best possible level of service.”