ABN Amro is launching a ‘Pay Later’ debtor management pilot aimed at enhancing trust in online B2B transactions for business clients.
Under this pilot, ABN Amro guarantees payment and assumes responsibility for managing merchants’ debtors. Developed in partnership with B2B tech company Two, this feature allows merchants to enable their business clients to pay via online invoices without the risk of non-payment.
Research from the 2022 Market Monitor indicates that 90% of companies make online orders, but they seek assurance regarding the delivered goods and the reliability of merchants. Additionally, the requirement to pay in advance is viewed as a hassle by one in ten companies.
With the Pay Later option, buyers can settle their invoices after receiving their goods, benefiting from a payment term of 30 days.
Carsten Bittner, ABN Amro’s Chief Technology Officer, commented, “With Pay Later, we are pioneering a new era of embedded finance 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.”