Allianz Trade Launches Payment Solution for B2B eCommerce

Allianz Trade, a provider of trade credit insurance, has launched a comprehensive payment solution designed for B2B eCommerce.

The new “Allianz Trade pay” aims to bring simplicity, security, flexibility and competitiveness to the B2B eCommerce sector, the company said in a Wednesday (March 6) press release.

This new offering builds on Allianz Trade’s existing support for the B2B eCommerce space, which includes eCommerce credit insurance and partnerships with leading eCommerce players and financial institutions, according to the release.

Its new offering, Allianz Trade Pay, encompasses a broad spectrum of services tailored for the digital commerce arena, the release said.

“With Allianz Trade pay, we are now covering the entire B2B eCommerce value chain, from KYB [know your business] to payment, and addressing the needs of the whole ecosystem, from eMerchants to BNPL [buy now, pay later] players, banks and marketplaces,” François Burtin, global head of eCommerce at Allianz Trade, said in the release.

The array of solutions under the Allianz Trade Pay umbrella includes eCommerce credit insurance that facilitates real-time customer credit online, enabling B2B eMerchants to offer payment terms while safeguarding against non-payment risks, according to the release.

Additionally, instant financing solutions ensure Allianz Trade’s B2B BNPL partners receive immediate payment for purchases, whether for domestic operations or multinational transactions, as well as insurance coverage if a buyer fails to pay, the release said.

The solutions also include a digital buyer onboarding solution, leveraging open-banking technologies and Allianz Trade’s comprehensive database of over 83 million companies worldwide. This facilitates a swift know your business (KYB) process at the checkout, per the release.

Furthermore, an insurance service covering fraud risks protects against financial losses due to identity theft, the release said.

“B2B eCommerce is rising constantly, and we will be there to facilitate this major transition in the way companies are dealing with trade,” Anil Berry, a member of the board of management at Allianz Trade, said in the release.

In another recent move, Allianz Trade said in January that it partnered with Santander and eCommerce platform Two to launch a new BNPL solution for large businesses.

Aimed at the B2B eCommerce market, this BNPL product will enable large multinational corporations to offer commercial customers a deferred payment option at checkout.

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