ABN Amro is launching a new ‘Pay on Invoice’ tool for B2B e-commerce transactions.

The move gives businesses access to a ‘Pay Later’ service, with companies able to defer payments for up to 30 days.

The Dutch bank is partnering with B2B payments tech company Two for the rollout.

"ABN Amro is committed to supporting the growth of businesses with innovative financial services," said Marc Baan , head of strategy & innovation a.i. “Our collaboration with Two allows us to offer a fast, secure, and efficient net terms option that empowers our clients to thrive in a digital-first economy.”

The move comes after Two announced an €18 million Series A funding round last year, which the company says it used to further its expansion into the UK and Nordics, as well as other European markets.

“Companies are accustomed to paying in 14 or 30 days, and the service we offer lets business buyers maintain their payment habits when buying online, with no extra steps," said Andreas Mjelde, chief executive of Two. "Through our collaboration, we can now provide SMEs with a state-of-the-art payment solution that enables both sellers and buyers to manage cash flow with greater accuracy and confidence."

In August, ABN Amro rolled out new technology to monitor transactions and flag suspicious activity across its global trade finance operations.

Holland’s third largest bank announced it had gone live with Norweigan software vendor CBA’s IBAS transaction due diligence software for trade finance transaction monitoring and compliance.

The move came after ABN Amro's chief executive Robert Swaak, who will not be returning for a second term, said that the bank needed to focus on its efforts in "data capabilities, digitalisation and regulation".

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