ABN AMRO starts ‘Pay Later’ pilot for business clients

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.

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.”