B2B Payments

BlueSnap Eyes B2B Merchants With Consolidated Payment Platform

BlueSnap is rolling out a new payments platform which pays particular attention to B2B merchants.

The company announced news on Monday (Oct. 23) that it has launched the All-in-one Payment Platform, a solution that enables companies to use a single, streamlined payment processing platform for multiple sales channels. The tool lets companies sell across online and mobile platforms, use marketplaces, offer subscription services and accept manual orders. Payments for sales across these omnichannel scenarios are all processed in a single portal.

BlueSnap noted that the solution integrates with more than 100 existing CRM (customer relationship management) solutions and digital shopping cart tools.

While the payment platform will certainly target B2C eCommerce players, BlueSnap said it can also be used for B2B merchants.

“Specifically, B2B merchants’ transactions have grown by 65 percent, supporting the trend that more B2B payments are moving to digital,” the company said in its announcement, adding that eMarketer Global B2B eCommerce data shows B2B payments are slated to hit $6.7 trillion by 2020.

According to the company, businesses are increasingly going digital, accepting online payments as a result. But the trend means companies have to be flexible in how they accept payments across an array of platforms. More than 80 percent of new BlueSnap customers say they use multiple payment gateways, have multiple platform integrations or report an inconsistency in their cash flows. Making payment processing consolidation omnichannel could help with these challenges, the firm said.

“Consolidating payment integrations is important for businesses looking to increase sales, improve their payment experience and reduce costs,” said BlueSnap CEO Ralph Dangelmaier in a statement. “Our platform gives them the ability to turn on the functionality they need as they grow and enter new markets or verticals with ease.”

The firm noted that its consolidated payment processing solution is linked to a merchant bank account as well as to BlueSnap’s network of global acquiring banks, letting businesses process payments locally to reduce the instance of false declines.

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