Allianz Trade, the world leader in trade credit insurance, Two, the pioneering business-to-business (B2B) e-commerce payments platform, and Santander Corporate & Investment Banking (CIB), one of the Top Trade Finance banks in the banking sector, have partnered to provide the first global B2B Buy Now Pay Later (BNPL) solution for large multinational corporates. This is the first partnership of its kind. The companies have combined Allianz Trade’s more than 100 years of experience in trade credit insurance with Two’s cutting-edge B2B BNPL technology and Santander CIB’s capabilities and expertise in tailor-made Working Capital Solutions with more than EUR +300Bn of turnover.
The result is a game changer product for global online B2B commerce. Corporates now have a one-stop solution to offer business buyers instant deferred payments at checkout. 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 (e.g. 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.
“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”, explains François Burtin, Global Head of e-commerce at Allianz Trade.
Marsh Spain acted as the trade credit insurance broker. “At Marsh Spain, we are very pleased to be at the forefront of this value proposition supporting our partners in their continuous development of innovative solutions” adds Ana Meca Diez, Head of Financial Risks and Specialties at Marsh Spain.