BlueSnap (credit image/Pixabay/AlexBarcley)BlueSnap has launched its Embedded Payments and Payfac-as-a-Service offering for software platforms looking to scale their customer base globally. BlueSnap is a global payment orchestration platform helping B2B and B2C businesses accept and optimise payments around the world.

BlueSnap has been helping software platforms monetise their payments for several years with their Integrated Payments for Platforms. The new Embedded Payments and Payfac-as-a-Service suite expands and innovates on this to include three new products. BlueSnap Dash, BlueSnap Relay and BlueSnap Flex. These solutions are designed to help software platforms drive revenue growth, enhance the user experience, and increase product retention.

BlueSnap developed these products to give software companies the flexibility to choose which model of embedded payments suits their specific needs. BlueSnap is one of very few providers worldwide to support the global payment facilitation model.

BlueSnap’s tailored solutions

(credit image/LinkedIn/Ralph Dangelmaier)
Ralph Dangelmaier, BlueSnap’s CEO

Ralph Dangelmaier, BlueSnap’s CEO said, “The development cycle for payments processing infrastructure and global licensing takes up to three years. This extended time to market puts software companies at risk of falling behind competitors and losing traction with customers. BlueSnap is on a mission to help empower platforms to reach customers globally and profit from a key, but often overlooked, part of the customer journey – payments.

“The company has three tailored solutions for businesses so that they can crawl, walk, or run on their journey to become payment facilitators. Choosing the best option for their growth cycle and the unique needs of their company.

  • BlueSnap Dash: The fastest speed-to-market offering, this is BlueSnap’s hosted turnkey solution.
  • BlueSnap Relay: The quick-to-market, white-label Payfac-as-a-Service offering shields businesses from risk while simultaneously letting them brand it their way.
  • BlueSnap Flex: The branded Payfac-as-a-Service solution that leverages BlueSnap’s APIs while giving software platforms complete control.

The expansion comes amid growing demand for embedded payments among software firms worldwide. According to industry analysts, the industry set to grow by over 40% to reach $124 billion in 2022.

Software vendors becoming payment facilitators

According to BlueSnap research, over 2 in 5 tech leaders are now considering becoming payment facilitators. 88% would opt to embed third-party technology into their platform instead of building a payment facilitation solution from the ground-up.

BlueSnap’s Embedded Payments and Payfac-as-a-Service solutions enable companies to build and implement their own branded payment experiences globally. The company says this can increase revenue for their business through payment monetisation. Software platforms leveraging BlueSnap’s solutions are able to build revenue streams because of the ability to profit from payments revenue. In addition to increased customer retention. According to research from JP Morgan software platforms can see a two-to-five time increase in revenue per customer using embedded payments.

This means that any Independent Software Vendor (ISV) can become a payment facilitator. This can be achieved without wasting time, money, and resources building a solution from scratch. It can reduce the risk for software platforms by alleviating the responsibility of meeting and tracking complex regulatory guidelines and compliance rules.

BlueSnap’s Embedded Payments and Payfac-as-a-Service is part of their All-in-One Payment Orchestration Platform which helps businesses accept payments globally. The platform provides a comprehensive back-end solution that simplifies the complexity of payments, managing the process from start to finish. With one integration and contract, businesses can sell in over 200 regions. This provides access to local card acquiring in 47 countries, 100+ currencies and 100+ global payment types. This includes popular eWallets, automated accounts receivable, world-class fraud protection and chargeback management, built-in solutions for regulation and tax compliance. Additionally, unified global reporting is included in the platform.

Enterprise Times: What this means for business

As a result of the pandemic, enterprises have made long-lasting changes in how they work and pay for goods and services. In a previous study, BlueSnap asked global business leaders about the new payment practices they introduced during the pandemic. Accepting online payments and digital invoicing tied as the most implemented new payment practices. This underscores the advances companies have made in moving their businesses online. It’s also in line with other analysts’ research that suggests the cash flow of organisations who failed to adapt declined. Organisations have to effectively use payments technology, the second from last leg of the customer journey. This will require a leap of faith and investing more in accounts receivable, automation and payment technologies. Essential for maintaining a positive cash flow stream into any enterprise, but unfortunately, not the most glamourous component in eCommerce.


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