ABN AMRO is launching a pilot called Achteraf Betalen (‘Pay Later’) for business clients. „Merchants can use this feature to let their business clients pay by way of online invoices, quickly and easily, without the risk of non-payment.” – according to the press release.
Under the ‘Pay Later’ feature, ABN AMRO guarantees payment and also takes over the merchants debtor management. ‘Pay Later’ has been developed in collaboration with Two, a B2B tech company that provides payment solutions.
Research by the 2022 Market Monitor shows that 90% of companies (n=2,032) place online orders but are looking for assurance about the delivered goods. The obligation to pay in advance is considered a nuisance (10%). There are also doubts about the reliability of the merchant (9%). 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: “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.”
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
