ABN AMRO, a Netherlands-based financial institution known for its innovative banking solutions, has launched a new pilot feature called Achteraf Betalen (‘Pay Later’) for business clients.
The new ‘Pay Later’ feature aims to address key concerns in the B2B e-commerce space, particularly those related to trust and payment flexibility.
Research from the 2022 Market Monitor highlights that 90% of companies place online orders but worry about the reliability of merchants or find paying upfront to be a nuisance.
ABN AMRO operates as a full-service bank offering a wide array of financial solutions, including retail, corporate, and investment banking services. Its focus on technological innovation and customer-centricity has established it as a leader in the European banking landscape.
The ‘Pay Later’ feature, developed in collaboration with Two, a B2B payment solutions provider, allows merchants to let their business clients pay through online invoices with a 30-day payment term.
The system guarantees payment to merchants while handling debtor management, giving businesses the flexibility to settle bills after receiving goods, addressing common concerns about advance payments and merchant reliability.
The pilot aims to introduce more trust and flexibility into B2B transactions, aligning with the growing demand for embedded finance solutions.
By guaranteeing payments and managing receivables, ‘Pay Later’ alleviates significant pain points for both buyers and sellers in online trade.
Additional research shows that businesses are increasingly seeking seamless payment options that reduce risk and improve cash flow. ABN AMRO’s partnership with Two underscores its commitment to leveraging FinTech collaborations to deliver cutting-edge solutions.
ABN AMRO chief technology officer Carsten Bittner said, “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.”
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