ABN Amro is launching a 'Pay Later' debtor management pilot for business clients with the aim of securing trust in online B2B transactions.
Under the Pay Later pilot, ABN Amro guarantees payment and also takes over the merchants debtor management.
Developed in collaboration with B2B tech company Two, merchants can use this feature to let their business clients pay by way of online invoices, without the risk of non-payment.
Research by the 2022 Market Monitor shows that 90% of companies place online orders but are looking for assurance about the delivered goods and the reliability of the merchants. The obligation to pay in advance is considered a nuisance by one-in-ten.
With Pay Later, buyers can settle their bills after receiving the goods, with a payment term of 30 days.
Carsten Bittner, ABN Amro’s chief technology officer, says: “With Pay Later we are pioneering a new era of embedded financ by increasing trust and flexibility in online B2B transactions. This launch underscores our commitment to innovation and our dedication to providing solutions that align with our customers' evolving needs.”