A new B2B BNPL package created in collaboration between Allianz Trade, Santander Corporate, and Investment Banking, and Two is targeted at major international corporations.
The firms have created a one-stop service for corporates to provide business purchasers fast delayed payments at the checkout by combining Allianz Trade’s experience in trade credit insurance with Two’s B2B BNPL technology and Santander CIB’s working capital program.
Santander CIB funds upfront payments to sellers and credit terms to buyers internationally with a single API interface driven by Two, and Allianz Trade safeguards the whole value chain against the risk of non-payment. To lessen the need for complex operating models with several suppliers across technology, trade insurance, and trade credit, sellers will have access to worldwide multi-currency assistance.
Using its global corporate database, which contains commercial, financial, and strategic information on more than 80 million corporates globally, Allianz Trade evaluates credit requests promptly as part of the partnership. Santander CIB can immediately decide on financing after processing the findings, with Two’s installment payments product handling deferred payment conditions.
According to Ignacio Frutos Lopez, worldwide head of receivables at Banco Santander CIB, B2B transactions still need to be improved by requiring purchasers to utilize personal or business credit cards. In an e-commerce market, the ability to sustain payment practices within 30 or 60 days after bills will be a crucial difference for sellers and add a huge game changer. All worries about non-payment risk are gone, and their cash flow is always protected.
“Additionally, the solution is instant and seamless which makes it powerful for a firm dealing with huge sales volumes across different countries. Thanks to the service, large corporates will now be able to enjoy the BNPL product to grow their online activity safely and globally.”
Following the introduction of its B2C product Zinia in Germany and the Netherlands during the previous year, Santander’s BNPL coverage is now complete with the addition of the new B2B package.
