Santander CIB , Allianz Trade , and Two have partnered to develop a new business-to-business (B2B) Buy Now, Pay Later (BNPL) solution dedicated to large multinational corporates. The companies have combined Allianz Trade’s years of experience in trade credit insurance with Two’s B2B BNPL technology and Santander CIB’s capabilities and expertise in tailor-made Working Capital Solutions with more than EUR 300 billion+ of turnover.

With a single application programming interface (API) integration powered by Two, Santander CIB finances upfront payments to sellers and credit terms to buyers globally, while Allianz Trade protects the whole value chain against non-payment risk. Sellers will have global multi-currency support to dramatically reduce the need for complex operating models with multiple providers across technology, trade insurance, and trade credit. The result is a product for global online B2B commerce.

Therefore, corporates now have a one-stop solution to offer business buyers instant deferred payments at checkout. The contribution of each partner Two is taking care of the payment technology, Santander CIB is financing upfront payment to seller and credit to buyers, and Allianz Trade is protecting the whole value chain against non-payment risk. As part of this partnership, Allianz Trade assesses credit requests instantly through its API thanks to its large and deep database, which contains commercial, financial, and strategic information about more than 80 million corporates worldwide.

This will help Santander CIB make financing decisions on the spot. All this process is streamlined and set up through Two’s BNPL technology. Everything happens in a fraction of a second.

This new B2B BNPL solution allows Santander to cover the full spectrum of BNPL products since it complements Zinia, the business-to-consumer (B2C) BNPL solution launched by Santander's Digital Consumer Bank with a successful implementation in Germany and the Netherlands over the past year. The development of the partnership Allianz Trade and Two had partnered earlier in 2023 to offer a B2B BNPL solution for SMEs in the UK, while at the same time Allianz Trade and Santander were working on large BNPL projects. The large corporate segment is currently undertaking major online projects to grow B2B ecommerce sales and improve margins.

However, they need instant payment technology to facilitate B2B sales at a global level. Naturally, Santander, Two, and Allianz Trade decided to extend their partnership to provide a unique product that can serve large global corporates. .