A partnership between logistics giant FedEx and online global payment gateway BlueSnap will make it easier than ever for merchants to ship their products worldwide.
Modern businesses need to be able to handle cross-border shipping requests to stay competitive. Plus, an estimated estimated 30 percent of sales could be forfeited simply due to difficulties with payments processing.
But on the business end, the logistics, taxing, and localization of the checkout page can be complex waters to navigate.
Together, FedEx Cross Border and BlueSnap’s Powered Buy Platform are offering businesses – and through them, global shoppers – the languages, currencies and payment types they expect in the online marketplace, empowering those businesses for B2B and B2C sales.
BlueSnap’s platform connects to more than 20 global acquiring banks through a single API and underwriting process to offer merchants better payment conversions. The company announced last year that it would be enhancing processing for the European Union, Latin America, and Canada.
BlueSnap supports hundreds of payment types, including popular mobile wallets like ApplePay, PayPal, Visa Checkout, MasterPass and Alipay, and over 100 different currencies in the U.S., Canada, Europe, Asia, Latin America, and Australia. It also protects users from fraud and reduces false declines.
By offering customers pricing in local currency, BlueSnap helps them avoid unexpected currency conversions and cross-border bank fees, leading to more sales conversions than sites asking visitors to pay in a foreign currency.
“FedEx Cross Border allows merchants to sell internationally like never before,” said Ralph Dangelmaier CEO of BlueSnap. “Their advanced platform solves so many of the tough challenges of global eCommerce, and we are pleased that our platform helps them reach those markets with the best global payment conversions in the space.”
It’s estimated that 94 million online shoppers will spend almost $1 trillion on cross-border e-commerce transactions by 2020, according to the May 23 press release announcing the partnership.