B2B Payments

BlueSnap Adds X-Border Payments Support For B2B eCommerce

BlueSnap's Marketplace feature will let companies sell products in new ways

BlueSnap wants to break the glass ceiling for companies looking to sell products on marketplace-style websites of their own with its new product, according to a press release.

The platform makes use of tools with automated vendor operating, seamless split payouts and cross-border technology in order to make things work for companies that want to implement a full-on market in which people can buy and sell products.

The move is meant to level the playing field after decades of giant retailers like Amazon, eBay and Alibaba having dominated the field in terms of letting people buy things online. With that level of competition, other sites have found it challenging to break through due to the various costs and hurdles to jump in terms of onboarding, managing and paying sub-merchants.

BlueSnap’s Marketplaces tool will let businesses streamline those roadblocks and find ways to get large numbers of companies on board instantly, setting up individual payment processes, transaction splits and scheduling, while BlueSnap handles the way funds are distributed. There will also be features to look at market trends and analytics, which can help companies manage businesses in savvy ways.

One of the bigger features on offer is customization, as BlueSnap will let companies interact with the marketplace at varying levels. If a company wants to let customers check out on its own external page, BlueSnap will let that happen, according to the release.

One new feature for BlueSnap’s Marketplaces tool is the cross-border payments option. The tool will allow payments to be processed in more than 100 currencies and can integrate popular services, such as eWallets like Apple Pay, SRC and Google Pay. BlueSnap’s network of acquiring banks is larger than most, according to the release, and cross-border payments can be localized to save on interchange fees and increase authorization rates.

There will also be fraud protection and ways to ensure sellers are safe when peddling their wares online.

With eCommerce on the rise, BlueSnap is looking to capitalize on the freedom of choice enabled by the wide array of new technology.

——————————

LATEST PYMNTS REPORT: MARCH 2020 B2B API TRACKER  

B2B APIs aren’t just for large enterprises anymore — middle-market firms and SMBs now realize their potential for enabling low-cost access to real-time payments and account data. But those capabilities are only the tip of the API iceberg, says HSBC global head of liquidity and cash management Diane Reyes. In this month’s B2B API Tracker, Reyes explains how the next wave of banking APIs could fight payments fraud and proactively alert middle-market treasurers to investment opportunities.

TRENDING RIGHT NOW