Best Alternative Payment Solution
BlueSnap was one of only two companies to pull a CNP Awards double this year, capturing both Judges Choice and Customer Choice in the same category—Best Alternative Payment Solution.
BlueSnap’s Powered Buy Platform™ supports shoppers in 180 countries with 29 languages, 100 currencies and 110 payment types that do not require a bank-issued credit or debit card. The company notes that 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.
BlueSnap says its approach addresses part of the “conversion problem” that merchants face when a customer abandons checkout, which results in lost sales. Nearly 60 percent of BlueSnap merchants offer alternative payment types, which account for 9 percent of all sales. And 8 percent of subscription sales volume is paid using alternative payment methods, according to the company.
This year BlueSnap added SEPA Direct Debit payment types, local cards in Latin America and key mobile wallets like Visa Checkout, Masterpass by Mastercard and Apple Pay. And, more wallets are being added every quarter, the company says.
BlueSnap’s 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 uses dynamic localization technology for higher conversions that recognizes IP addresses and dynamically serves up local languages, currencies and payment types in the merchant’s shopping cart. By putting localized, alternative payment methods in front of every shopper, BlueSnap provides a frictionless checkout experience for the customer and maximized conversions for the merchant, the company says.
BlueSnap’s payment analytics have the technology to advise merchants on which payment methods will increase shopping revenue, achieve higher acceptance rates and reach more shoppers in their key markets.