Allianz Trade is enhancing its e-commerce credit insurance services to provide real-time protection against non-payment risks for B2B marketplaces, BNPL providers, and online merchants. Allianz is set to expand its efforts to better support the B2B ecosystem and adjust to the increasing e-commerce trade flows.
Allianz Trade has introduced Allianz Trade pay, a suite of solutions aimed at e-commerce participants, encompassing credit insurance, on-the-spot financing, and KYB procedures. Allianz Trade pay combines existing tools with new services.
Allianz Trade pay includes established solutions such as:
- E-commerce credit insurance: enabling B2B online merchants to offer payment terms to their customers while safeguarding against non-payment risks.
- A domestic instant financing solution: Allianz Trade’s B2B BNPL partners manage the entire BNPL process, ensuring immediate payment to e-merchants through Allianz Trade’s API. In the event of a customer’s non-payment, Allianz Trade covers the insurance for the BNPL partner.
- An instant financing option for multinational companies: similar to the domestic solution but with a financial partner involved to facilitate real-time payments for online transactions across different countries and currencies.
Additionally, Allianz Trade pay introduces innovative solutions to the market:
- A buyer onboarding service aiding e-merchants in their KYB process by verifying buyer identities through open-banking technologies and Allianz Trade’s extensive database.
- An insurance service to protect against financial losses due to identity theft by fraudulent entities.
- A simple CMS plugin, making it easy for companies to integrate these solutions into their B2B e-commerce platforms.
François Burtin, Global Head of e-commerce at Allianz Trade, said, “With Allianz Trade pay, we are now covering the entire B2B e-commerce value chain, from KYB to payment, and addressing the needs of the whole ecosystem, from e-merchants to BNPL players, banks and marketplaces. You are a traditional retailer wanting to grow your business safely? You are a marketplace willing to strengthen its KYB process? You are a payment player willing to add a new deferred payment option? We have a solution. The strength of Allianz Trade pay lays in the provision of complementary services, with frictionless integration to your payment pathway. Allianz Trade pay brings simplicity, security, flexibility and competitiveness to the B2B e-commerce market.”
Anil Berry, Member of the Board of Management in charge of Commercial Underwriting, Distribution, E-Commerce and Marketing, said: “We are very enthusiastic about Allianz Trade pay and convinced that it will help the B2B e-commerce market to grow even faster. Trade patterns are transforming and as the world leader in trade credit insurance, we must lead the shift in our industry. The potential of Allianz Trade pay is infinite, and we aim to go even further. We will continue to always develop more innovative services and functionalities, such as live and consolidated views, dedicated and dynamic dashboards and automated alerts for instance. B2B e-commerce is rising constantly, and we will be there to facilitate this major transition in the way companies are dealing with trade.”
