BLUESNAP LAUNCHES EMBEDDED PAYMENTS SUITE TO HELP SOFTWARE PLATFORMS MAXIMIZE REVENUE GLOBALLY
BlueSnap, a global payment orchestration platform committed to helping B2B and B2C businesses accept and optimize payments around the world, has launched its Embedded Payments and Payfac-as-a-Service offering for software platforms looking to scale their customer base globally.
BlueSnap has been helping software platforms monetize their payments for several years with their Integrated Payments for Platforms. The new Embedded Payments and Payfac-as-a-Service suite expand and innovate 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 the very few providers worldwide to support the global payment facilitation model.
“ The traditional development cycle for payments processing infrastructure and global licensing takes up to three years in-house. 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.
That’s why we’ve developed 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. ”
Ralph Dangelmaier, CEO of BlueSnap
- 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 in 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, with the industry set to grow by over 40% to reach $124 billion in 2022.
According to BlueSnap research, over 2 in 5 tech leaders are now considering becoming payment facilitators. And the vast majority (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, which can increase revenue for their business through payment monetization. Software platforms leveraging BlueSnap’s Embedded Payments and Payfac-as-a-Service solutions can build more meaningful revenue streams because of the ability to profit from payments revenue as well as increase customer retention. According to research from JPMorgan., 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 without wasting time, money, and resources building a solution from scratch. It also significantly reduces 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 are part of their All-in-One Payment Orchestration Platform which helps businesses accept payments globally. The platform provides comprehensive back-end solutions that simplify the complexity of payments, managing the full process from start to finish. With one integration and contract, businesses can sell in over 200 regions with access to local card acquiring in 47 countries, 100+ currencies, and 100+ global payment types, including popular e-wallets, automated accounts receivable, world-class fraud protection and chargeback management, built-in solutions for regulation and tax compliance, and unified global reporting.