Allianz Trade in Asia Pacific announced its venture into the rapidly growing B2B e-commerce space and has secured the first partnership with Singapore-based B2B Buy-Now-Pay-Later (BNPL) player Bueno.money.
Through the credit insurer’s credit solution E-commerce Credit Insurance, Bueno.money is able to offer deferred payment solutions to e-merchants in real-time with credit risks protected.
Powered by this partnership, once an online shopper visits the e-merchant’s website, a pop-up will appear to offer a 60-day interest-free credit line application where the approval process takes no longer than 30 seconds. Once approved, the shopper will be free to shop within the credit line and pay at a later stage, while the e-merchant will receive payment upfront from Bueno.money with credit risks underwritten by Allianz Trade.
Speaking on this partnership, 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. At Allianz Trade, we have combined our hundred years of expertise in B2B risk assessment and the latest API technology to provide the best solution in the market.”
Iman Aqas, CEO of Bueno.money, said, “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. 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. By combining Allianz Trade’s insurance expertise with our innovative invoice financing platform, we are transforming the way businesses manage their finances and providing them with greater flexibility and convenience.”