Categories: B2B Payments

BlueSnap Adds X-Border Payments Support For B2B eCommerce

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.

Get our hottest stories delivered to your inbox.

Sign up for the Newsletter to get updates on top stories and viral hits.



The pressure on banks to modernize their payments capabilities to support initiatives such as ISO 20022 and instant/real time payments has been exacerbated by the emergence of COVID-19 and the compelling need to quickly scale operations due to the rapid growth of contactless payments, and subsequent increase in digitization. Given this new normal, the need for agility and optimization across the payments processing value chain is imperative.

Recent Posts

Today In Payments: Amazon’s PayFort To Boost Middle East Startups; Next Economic Stimulus Package Could Hit $1T

In today’s top news, Amazon is looking at buying a stake in India’s Bharti Airtel, and the Trump administration expects…

21 mins ago

China’s To Sell $4B In IPO Shares

Hong Kong technology company Inc. plans to sell up to $4.3 billion in shares in what is expected to…

1 hour ago

President Trump Inks PPP Loan Flexibility Legislation

As some firms grapple with meeting pivotal standards for loan forgiveness amid the pandemic, President Donald Trump inked a bill…

1 hour ago

France’s Fund Aims To Rescue Tech Startups From Takeovers

Looking for a way to protect technology companies from becoming prey to foreign buyers, France has created a fund to bail…

2 hours ago

Catching Hold Of Rapidly Digitizing Consumer Bases

It's been a busy week in payments and commerce, as June kicks off and consumers around the world are ready…

2 hours ago

Will Summer Camp Be COVID-19’s Latest Casualty?

With a very unusual U.S. school year coming to an end, children who have been trapped at home for the…

3 hours ago