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.
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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 (accepted) 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).
Offering Allianz Trade pay in Shopware 6
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 billing 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. Please note, that this pop-up does not show up when there is an exact match in the shipping address, or when the shipping address differs from the billing address.
If the user selects a company, a second pop-up will open up that asks the user to confirm the change in billing address:
Customer Journey - Billing step
If all business requirements are met, Allianz Trade pay will be displayed among the available payment options:
- NET Order Value matches contractual agreement (default between 250€ & 35,000)
- The billing address has an exact match in the Allianz Trade database
- Billing address and shipping address are identical
Should the buyer make any changes in the final step of the checkout so that a conflict arises with one of the business requirements, the payment option will automatically be hidden.
Customer Journey - Order Confirmation & Risk Decision
After confirming the order and payment option, the request is routed to Allianz Trade for a risk decision. If the risk decision is negative, the buyer will receive a decline message and the payment option will be hidden for the remainder of the browser session. Please note that until the buyer selects and confirms a different payment option, the order will be marked as cancelled in your backend.
If the quote request is accepted and the risk decision is positive, the user will be redirected to your success page and the order is created with a success status AUTHORISED in your backend. You may then proceed to process the order as usual, please refer to the order management process to identify what actions must be reported to Allianz Trade for a proper invoice coverage.
Order Management - 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.
Using Allianz Trade pay at the point of sale or via telephone
If you invoice via telephone or directly at the point of sale, you can set up orders and request quotes for your invoices through the payever checkout app or via payment link. The orders are then managed directly through the payever platform. In this guide you can find how to:
1. Request a quote through the 'Checkout' app or via Payment Link
2. Manage orders in the 'Transactions' app
1. Requesting a quote through the 'Checkout' app or via Payment Link
During or after the phone call, you can request a quote for the buyer directly in the checkout app. For that, your sales representatives require employee access to your company's payever business.
Alternatively, you can also use your company's default payment link, for which your sales representatives do not need to sign into the platform beforehand. Learn how to access your company's default payment link here.
1.1 Entering NET Order Value & Unique Reference
After entering the checkout app, the sales representative will be faced with a checkout to order the order value and reference. Please enter the NET order value and use a unique reference that you will be able to match in your company's Enterprise-Resource-Planning system. You will only be able to use every reference ID once. After filling out the data click 'continue'.
1.2 Searching & Selecting the Buyer Company
After proceeding, please select the buyer type 'commercial', else Allianz Trade pay will not be available in the billing step. In the company field, please enter the buyer company and wait a few seconds. A dropdown menu will appear from which you can select the buyer company.
Selecting the company will also autofill the address data in the field below and in the following steps. Please ensure that the autofilled address matches the address that the buyer indicated via telephone, else the invoice cannot be covered.
1.3 Buyer (personal) data
After proceeding, you must enter the personal data of the buyer who made the purchase via telephone. Please enter the buyer's name, phone number and e-mail address. Please also note that the billing address must match the shipping address to prevent fraud.
1.4 Submit payment
After proceeding, select Allianz Trade pay and submit the order.
You will receive a response based on the Allianz Risk decision. The order may be accepted or refused. In some cases, the buyer cannot not be appropriately identified. In this case the quote will always be refused.
2. Manage Orders in the 'Transactions' App
After successfully submitting an invoice through Allianz Trade pay, you can manage the order in the 'Transactions' app.
Managing orders includes the following actions, some of which are mandatory (*) in order to appropriately cover your invoices from payment defaults:
- 2.1 Cancellation: This cancels the order and deletes the quote to cover the order value
- 2.2 Change Amount: Before the goods are shipped, the order value can be changed, this requests a new quote from Allianz Trade
- 2.3 Shipping Goods (capture)*: This activates the cover and starts the credit period
- 2.4 (Partial) Refund: A refund was initiated, this changes the covered order value
- 2.5 Claim: This files a claim for a payment default (per default automised after credit period ends)
- 2.6 Settlement*: This confirms that invoices have been settled, else Allianz will automatically file a claim against the buyer
All actions are done on a per-order basis, by clicking on the desired order in the transactions overview.
2.1 Cancellations
When an order is cancelled or (parts of it are) refunded, this must be reported through the Transactions app to remove the quote and free up the maximum credit line for the buyer. Orders can only be cancelled in full, and only before the goods are shipped and the order is captured.
2.2 Change Amount
When the order value changes before the goods are shipped, e.g. because of missing inventory or due to a customer request, the order can be edited. To change the order value select the button with the three-dot icon, that is labelled 'more' and 'change amount'.
Please note that this is not possible after the goods have been shipped and the order was covered by Allianz Trade. The new invoice amount must be equal or lower than the initial amount.
2.3 Shipping Goods (capture)
When you ship the goods, you must inform Allianz Trade by clicking the 'shipping goods' button. By doing so, the order becomes covered in the case of a payment default. The invoice period begins in this moment.
2.4 (Partial) Refund
If there is a refund after the goods were shipped and the order was captured, you can report the decrease in covered order value by clicking the 'refund' button. There you may choose between a full- or partial refund by selecting the amount that is being refunded and confirming the action.
2.5 File a Claim
If an invoice is not paid after the due date has passed, payever will per default automatically file a claim with Allianz Trade. In case you have this feature deactivated for more control, you must file claims manually by selecting the button with the three-dot icon, that is labelled 'more' and click 'claim'.
When doing so, a window will open up that requires you to upload documents that support the claim. It is mandatory to submit the original invoice and a written statement of the case. After uploading the files, please make sure to click 'upload' and confirm the case by clicking 'claim'.
2.6 Settle an Invoice
There are two triggers that require you to mark an order as settled:
1) The buyer pays the invoice
2) Allianz Trade pays out a reimbursement after a claim was filed
Please note that in both cases you must mark the order as settled once the transaction is registered in your company bank account to free up your maximum available credit line. If you leave the transactions unsettled, false claims will be filed and you will run into your maximum limit of insurable invoices. To mark an invoice as settled, select the button with the three-dot icon, that is labelled 'more' and click 'settle'.