Best Alternative Payment Solution
Waltham, Mass.-based payments provider BlueSnap has garnered two Customer Choice Awards from the second year in a row, repeating as the customers’ favorite in the Best Alternative Payment Solution and Best Subscription/Recurring Billing Solution categories.
BlueSnap’s Powered Buy Platform™ supports shoppers in 180 countries with 29 languages, 100 currencies and 100 payment types that do not require a bank-issued credit or debit card. The company says its diverse and international selection of alternative payment methods allows BlueSnap merchants to convert more customers in markets where credit and debit cards are not the dominant forms of payment. For the second year in a row, its customers agreed.
BlueSnap’s approach addresses part of the “conversion problem” merchants face when a customer abandons checkout, something that can cause them to lose out on more than 40 percent of sales. In fact, today, more than half of BlueSnap merchants offer alternative payment types and they account for 9 percent of all sales. Moreover, 6 percent of subscription sales volume is paid via alternative payment methods, according to the company.
For merchants that rely on alternative payment to reach new markets and shoppers, BlueSnap offers several features. Its subscription platform can support subscription billing with multiple alternative payment types—even those that do not natively support recurring payments, like wire and bank transfers.
And, BlueSnap’s dynamic localization technology for higher conversions recognizes IP addresses and dynamically serves up local languages, currencies and payment types in the merchant’s shopping cart.
Its payment analytics advise merchants on which payment methods will increase shopping revenue, achieve higher acceptance rates and reach more shoppers in their key markets. This eliminates the hassle of identifying, researching, and implementing alternative payment methods.
And BlueSnap has showed continued investment in alternative payment processing by announcing integrations to multiple wallets such as Visa Checkout and MasterPass, and adding ACH and PayPal as payment options for subscriptions.