Allianz Trade pay is a B2B Buy now Pay Later option, that is offered in cooperation with our partner Allianz Trade. The payment option lets your business customers pay an invoice 30 to 90 days after the purchase. This increases your average order value and reduces the percentage of abandoned baskets, while offering more flexibility to your customers.
Please note that in addition to a payever account (create for free here), you also need to set up a contract with Allianz Trade to use this payment method. To receive a proposal, please contact support@payever.de for an individual offer.
How does it work?
If you decide to set up Allianz Trade pay for your shop, you choose the credit period that you want to offer to your customers. After setting up the contract with Allianz Trade, you can install and configure the payment option in the payever CommerceOS.
When entering your checkout, customers can have their VAT & firm address autofilled in seconds. If Allianz Trade pay is selected as a payment option, your customers’ creditworthiness is seamlessly assessed before the order is wrapped up.
After the conversion, you send out an invoice for the specified due date, while payever takes care of reminding your customer of the open invoice. Once the customer fulfills the transaction, you confirm the payment in your shop system or the payever CommerceOS, which then settles the invoice.
If a deadline is missed, payever will automatically file a claim for your insurance case and send dunning letters to your customer. In case of a payment default, 90% of the missing order value will be reimbursed by Allianz Trade.
Who can use it?
Allianz Trade pay is available to merchants in Allianz Trade's countries of operation (find an overview here). Your orders will be covered in nearly all countries and currencies. This payment option is compatible with all major shop systems via plug-ins and through the Payment API, as well as at the Point-of-Sale and through Pay-by-Link (learn how to configure plugins & interactions).
Individual Factoring Solutions
If you want to offer Allianz Trade pay to your customers, but do not want to wait for your money, you can inquire regarding personal factoring solutions. In this case, you can receive your payment within 24 hours. Please note that, per default, this is not a factoring product.
Fees
The fees for Allianz Trade pay are determined individually, but are usually cheaper than PayPal invoice financing or corporate credit cards. Longer credit periods and individual factoring solutions take on larger fees. To receive a proposal, please contact support@payever.de for an individual offer.
How to install Allianz Trade pay
Step 1: Create a free payever Business Account
First, set up your free payever business account according to your needs. It is recommended, that you thoroughly set up your business before proceeding to the next step. You can learn in detail how to get started here, or directly sign up through this link.
Step 2: Install Allianz Trade pay through the payever Platform
First, open the Connect app, by clicking on the Connect button.
Then, find Allianz Trade pay from the list of available options, by scrolling or using the search bar. Click Install.
Step 3: configure Allianz Trade pay
When Allianz Trade pay is installed and activated, click "open" to configure the payment options.
Enter the Allianz Trade Cover API key & Claim API key, as well as the unique Seller ID & Policy ID, that you received by Allianz Trade when signing your contract, and click connect.
Configure your desired settings:
- Country availability - your selection here determines to buyers from which countries you will offer Allianz Trade.
- E-mail Notifications - If this checkbox is ticked, you will receive an e-mail notification whenever an order is authorized using the Allianz Trade pay payment option.
-
Auto-capture - This selection determines at what point in time an order is covered by Allianz Trade pay. From this point on the credit period starts. You can choose one of three options:
- On authorize: Coverage is activated as soon as the order is submitted by your customer. This option makes sense if you usually have everything in stock and are very quick to ship your goods.
- On fulfilment: Coverage is activated as soon as you ship the goods. This option makes sense if it takes you longer to ship an order. That way you give your customer more time to settle the invoice after the goods arrive.
- Manually: Coverage is activated upon your notice in the CommerceOS. This option makes sense if you want to be in personal control of the cover activation. For example, if you frequently need to split up order shipments into multiple parts, that you want to cover individually.
Please do not forget to click on save, after you have configured your settings.
Step 4: Confirm, that Allianz Trade pay is activated in your payever account
Lastly, please confirm that Allianz Trade pay has been activated as a payment option. To do so, return to the dashboard and open the checkout app by clicking the checkout icon.
Then, select Payment Options on the left-hand toolbar.
Check whether the toggle switch next to Allianz Trade pay is blue and the payment method is therefore activated.
You can activate or deactivate the payment method in your payever account at any time. If you deactivate the payment methods by clicking the toggle switch, they will automatically disappear from your shop without you having to configure this in your shop backend (of course, this also works the other way around - when activating a payment method).
Using Allianz Trade pay through Shopware6
Below you can find details on how to use Allianz Trade pay through the Shopware6 shop system. To manage orders, please make sure to read up on Shopware 6 and configure the plugin and payment option first. If you have questions about the process, please reach out to support@payever.de.
Customer Journey - Company Search
When your customers have filled their basket and proceed to the checkout, they are asked to enter their company name in the commercial data page. The company search feature allows your customers to select their company from a drop-down menu. This dropdown menu shows the closest matches out of the Allianz Trade proprietary database, which includes over 83 million businesses from around the world.
After selecting their business, the businesses VAT & address details are pre-filled and a unique identifier is assigned to the buyer in the backend. This prevents unregistered- or illegitimate businesses from purchasing from your business through invoices.
Customer Journey - Pop-up Window
Instead of a dropdown menu, you can also configure a pop-up window to match your buyers in the Allianz Trade pay Database. After the buyer has filled in their information and confirmed their data, the pop-up will appear based on the closest matches to the entered company name. The buyer can then select the company or proceed without being matched in the database.
Activating the insurance cover (Capture)
After Allianz Trade has quoted an order, the payment status will be marked AUTHORISED. At this point, the fulfilment can be prepared. Once the goods are ready to be shipped, the insurance cover for the order can be activated - this is called the capture.
You can capture the order in Shopware 6, by clicking the 'shipping goods' button, in the payever checkout tap of the order details. When doing so, Allianz will run another creditworthiness assessment in their internal database. If that results positive, the order will receive the shipment status Shipped. Please be sure to capture and validate the correct shipment status before you fulfil the order.
Cancellations and (Partial) Refunds
You can easily cancel and refund orders directly from the payever checkout tab in the order details. Cancelling the order will mark the status CANCELLED. After the goods are shipped and the order is captured, the refund button also becomes available and can be triggered in the same section of the order details. Full refunds will also trigger the payment status CANCELLED.
For partial refunds, you can enter the value of the refunded goods in the refund amount field. The insurance cover will automatically be adjusted to the new order value. Partial refunds trigger the payment status REFUNDED.
Partial Payments & Settlements
Once the payment for the invoice is registered, the order must be settled by clicking the 'Settle' Button. This will notify Allianz Trade that the invoice has been paid.
You can also register partial payments, by entering the value in the field and confirming with the 'invoice'-button. This will notify Allianz that the covered amount is being reduced, payment defaults will therefore only be covered for the remaining outstanding dept.
Manually Filing a Claim
If the invoice is not settled after the due date has passed, you can file a claim. Per default, this will be automatically done by the integration, but is also manually possible (e.g. if the buyer confirms bankruptcy to you before the invoice's due date.
The claim feature is available after capture in the order overview in Shopware 6 with an automatically generated invoice for the order in question. Before confirming the claim, you may add additional information such as:
- Whether you have reason to believe the buyer has filed for bankruptcy
- Whether you are in an ongoing dispute with the buyer regarding the invoice's settlement
You can file a claim and will be contacted by Allianz Trade. Please note that after filing a claim, you are still obliged to settle the order in Shopware 6 if the buyer fulfils the late payment, or once Allianz Trade pays out the order value.