Allianz Trade launches online B2B commerce solution for multinationals

Allianz Trade has launched a buy now pay later (BNPL) solution for large multinational corporates designed to foster online business-to-business (B2B) trade. The solution was developed with B2B e-commerce payments platform Two, and Santander Corporate & Investment Banking (CIB). According to Allianz Trade, the solution is a game changer product for global online B2B commerce. The partnership between a credit insurer, a bank and a fintech is the first of its kind. Marsh Spain acted as the trade credit insurance broker. “Corporates now have a one-stop solution to offer business buyers instant deferred payments at checkout,” said Allianz Trade. “With a single API integration powered by Two, Santander CIB finances upfront payments to sellers and credit terms to buyers globally, while Allianz Trade protects the whole value chain against non-payment risk (for example, including credit risk). Sellers will have global multi-currency support to dramatically reduce the need for complex operating models with multiple providers across technology, trade insurance, and trade credit.” François Burtin, global head of e-commerce at Allianz Trade, said: “We’re very proud to join forces with Two and Santander CIB to provide a complete deferred payment solution for B2B e-commerce. Our solution will be distributed worldwide and aims to allow large corporates to develop their online sales by offering deferred payments to existing and new customers, without being exposed to non-payment risks, while benefiting from immediate and guaranteed payments. It is a turnkey solution combining the very best of our three firms – easy to set up and improving both seller revenue and user experience.” Under the partnership, Two provides the payment technology, Santander CIB finances the upfront payment to the seller and credit to buyers, while Allianz Trade protects against non-payment risk. The insurer explained that it assesses credit requests instantly through its API, helping Santander CIB make financing decisions on the spot, all streamlined through Two’s BNPL technology. Ignacio Frutos Lopez, global head receivables at Banco Santander CIB, said: “The fact that buyers have to use personal or corporate credit cards is still hindering B2B transactions. Enabling businesses to maintain their payment habits within 30 or 60 days of their invoices, in an e-commerce environment, will be a big differentiator for sellers while adding a major game changer: all concerns about non-payment risk are now removed, and their cash flow is preserved at all times. Additionally, the solution is instant and seamless, which makes it really powerful for a firm dealing with huge sales volumes across different countries. Thanks to the service we’ve created along with Allianz Trade, Two and Marsh Spain, large corporates will now be able to enjoy the BNPL product to grow their online activity safely and globally.” “At Two we are obsessed about delivering seamless ordering and buying for B2B buyers while removing and automating the operational processes for sellers,” said Stavros Tamvakakis, Co-Founder of Two. “Business buying is not a one-size-fits-all and our product streamlines key steps in the journey (for example, instant onboarding, ordering, underwriting, invoice distribution, payments, reconciliation) so that sellers do what they do best while we abstract the pain points of drop-offs, working capital tie-up, risk, and manual work. Our ambitions are at a global scale, so we decided to take our partnership with Allianz Trade further by collaborating with Santander CIB, combining two powerhouses in insurance and banking to create a unique and innovative solution dedicated to large corporates.”

Allianz Trade launches online B2B commerce solution for multinationals

Insurer partners with Santander and fintech on buy now pay later product

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