Company News

July 17, 2024

Allianz Trade pay offers payment solution for B2B eCommerce with payever

Allianz Trade pay is a comprehensive suit of payment solutions dedicated to B2B eCommerce, including instant financing, digital buyer onboarding, online fraud risk management, and trade credit insurance at the checkout.

This launch follows after Allianz Trade’s success in pioneering eCommerce credit insurance and forming strategic partnerships with top financial institutions and eCommerce leaders.

About Allianz Trade pay

Allianz Trade provides real-time coverage against non-payment risks for B2B marketplaces, e-merchants, and Buy Now Pay Later (BNPL) providers, protecting them from the risk of customer insolvency, fraud attempts, or inability to pay with eCommerce credit insurance services.

To better support the growing B2B ecosystem, Allianz Trade pay offers expanded services to all eCommerce players.

With Allianz Trade pay, B2B customers can gain access to both established and brand-new services, including:

eCommerce credit insurance: Enables B2B e-merchants to grant payment terms while protecting them from the risk of non-payment through Allianz Trade’s API-based solution, ensuring seamless transactions and improving financial security

Instant financing: Provides insurance covers to the BNPL providers in case of non-payment after transactions are completed and e-merchant receives payment immediately for the purchase, regardless of currency or country.

Buyer onboarding: Simplifies Know Your Business (KYB) process with APIS, using open-banking technologies and Allianz Trade’s database that contains information on over 83 million companies.

Insurance covering fraud risks: Already embedded in Allianz Trade’s eCommerce credit insurance, this service provides protection against financial losses due to identity theft and fraudulent company impersonations.

In B2B trade, extending credit is the standard practice. However, B2B eCommerces often need to make quick credit decisions for unfamiliar customers, offering terms at the time of purchase. Without specialized solutions, granting real-time payment becomes impossible, especially when managing hundreds to thousands of clients.

Solution

Thanks to payever’s seamless integration, merchants can easily add Allianz Trade pay through our unified API. This allows them to offer Allianz Trade pay as a new B2B BNPL option for online transactions and Point of Sale.

Merchants who already integrate payever will benefit from the frictionless addition of a credible and secure B2B BNPL payment without requiring specific hardware or complex system installations.

Considering how the risk for non-payment has always been merchants’ main concern, Allianz Trade pay allows them to transfer the risk, enabling e-merchants to grant payment terms to digital customers.

Result

Allianz Trade’s report showed that deferred payment options lead to increased basket size and purchase frequency. This aligns with payever’s aim to help businesses of all types and sizes to grow through increased conversion rates and revenue.

Currently, Allianz Trade owns 35% market share of the global Trade Credit Insurance market. With over 83 millions of insurance decisions completed, Allianz Trade has protected more than €1 trillion in transactions and served over 70,000 active merchants, offering 30 to 90-day payment terms.

Through partnership with Allianz Trade, payever enables the wider market to benefit from protection in a case of non-payment while allowing businesses to optimize their time, effort, and financial resources to focus on growth, both B2B and B2C.

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