Allianz Trade Asia-Pacific region has announced a venture into the B2B ecommerce sector by partnering with BNPL firm Bueno.money to offer new payment solutions with real-time credit.
Allianz Trade is looking to head into the B2B space to enhance the offerings it can provide to its e-merchants, and the partnership with Bueno.money is aiming to bolster the flexibility of those payments.
Once an online shopper visits the Allianz Trade website, a pop-up will appear to offer a 60-day interest-free credit line application, with an approval process taking around 30 seconds.
Once approved, the shopper will be free to shop within the credit line and pay at a later stage, while the e-merchants will receive the payment upfront from Bueno.money with credit risks underwritten by Allianz.
Paul Flanagan, Regional CEO of Allianz Trade in Asia Pacific, said: “Supporting the rapidly growing B2B e-commerce space is an integral part of our growth strategy. Striking this partnership with Bueno.money, we are just as excited for launching this specialty line of business in which we see tremendous potential as global trade continues to progress.
“With BNPL payment option becoming a must for e-merchants, they will benefit even more from our e-commerce Credit Insurance through attracting more customers from different markets.”
Allianz has analysed the B2B e-commerce market as a valuable sector to engage in, finding that the market has grown six times larger than the B2C sector, with it also projected to grow at a CAGR of 22% by 2030.
The BNPL sector is also a space the credit firm has been eyeing as 95% of B2B buyers prefer paying on credit terms, becoming a key contributor and differentiator to the marketplace.
“We are very excited to be partnering with Allianz Trade, a collaboration that signifies a vital step for Bueno.money, our customers, and the B2B invoicing industry,” added Iman Aqas, CEO of Bueno.money.
“Together, we aim to address the challenges of private credit terms and provide businesses with the tools they need to confidently manage the ever-growing demand for flexibility in B2B commerce.
“Our partnership is essential in building Bueno’s vision of developing a holistic invoicing ecosystem, allowing businesses to finance and insure their invoices, outsource payment chasing and collections, and make informed decisions based on aggregated data.”