BlueSnap solution overview — Global B2B marketplace and all-in-one payment platform

This Spend Matters PRO article will focus on BlueSnap, a global provider of payment technology solutions to merchants and partners in North America, Europe, Israel, Asia Pacific and Latin America.

BlueSnap provides an all-in-one payment platform designed to support online and mobile sales, marketplaces, subscriptions, invoice payments and manual orders through a virtual terminal for B2B and B2C businesses. It offers merchants one integration, one account and one platform to accept payments globally.

The advent of cloud solutions has led to lower costs and easier access for companies to sell goods and services online. Today, B2B online marketplaces have unprecedented access to global markets. The proliferation of businesses selling products and services online has exploded, yet merchants often struggle with the vast number of tools and payment options required to create a seamless checkout experience for their global business customers.

The technology solutions offered by independent software vendors (ISVs) to enable marketplaces has generally lacked a comprehensive payment solution.

And it’s no wonder, this is no simple task.

Today’s B2B marketplaces require an end-to-end processing and a turnkey checkout solution, typically to support multi-currency authorization and settlement, global gateways, invoicing, risk and chargeback management, fraud prevention, etc. It is difficult to find all of these capabilities in one solution.

If you are going to roll out a global or regional e-commerce business, there is a lot to think about:

• How do you accept more customer payment options, in more currencies, in more countries than just U.S. dollars?
• If you use multiple gateway services and payment processing providers today, that creates additional IT costs and workflow challenges. How can you minimize the cost of running multiple gateways?
• If you are doing a lot of overseas card billings — and working with a bank to do so — it’s costing you a fortune. Is there a better way to bill customers locally?
• How do you manage to balance the need to convert more sales and manage new customer relationships, with fraud and chargeback concerns?

According to eMarketer, the mobile commerce and e-commerce purchase volume is expected to reach $6.3 trillion globally by 2024. While that includes B2C and B2B transactions, it represents significant growth from 2019’s $3.4 trillion. And while Amazon, Shopify and a few others represent a significant share of that volume, companies are rapidly deploying platforms to manage their business customer base online.

Selling in multiple markets can be confusing and costly for merchants. BlueSnap provides merchants one global gateway to streamline back-office functions into a unified system regardless of market, currency or payment medium.

Let’s take a look at BlueSnap and its solution capabilities.