What is Fattmerchant
Fattmerchant is a payment processing company based in the United States. It offers a subscription-based payment processing platform that aims to simplify payment acceptance and provide businesses with transparent pricing models.
The Fattmerchant payment system provides businesses with a variety of features and tools to accept payments from their customers. It supports various payment methods, including credit cards, debit cards, and ACH (Automated Clearing House) transfers.
The system is designed to work both in physical locations using card readers and online through e-commerce websites or virtual terminals.
One of the key aspects of Fattmerchant is its subscription-based pricing model. Instead of charging businesses a percentage-based fee for each transaction, Fattmerchant charges a fixed monthly fee based on the business’s processing volume.
This can be beneficial for businesses with high transaction volumes as it allows for more predictable costs and potentially lower fees compared to traditional payment processors.
Fattmerchant also offers additional features such as invoicing, recurring billing, and integrations with other business tools like accounting software and customer relationship management (CRM) systems.
The platform aims to provide businesses with a comprehensive payment solution that is easy to use, transparent, and cost-effective.
The history of Fattmerchant
Fattmerchant was founded in 2014 by Suneera Madhani, a young entrepreneur based in Orlando, Florida. Madhani recognized the need for transparent and affordable payment processing solutions for businesses, particularly small and medium-sized enterprises (SMEs).
The company initially operated under the name “Orlando Merchant Services” but rebranded to Fattmerchant in 2016. The name “Fattmerchant” was derived from the idea of providing businesses with a “fat” merchant account that offers better value and transparency.
Fattmerchant gained attention in the payment processing industry for its subscription-based pricing model, which was a departure from the traditional interchange-plus or flat-rate pricing structures prevalent in the industry. This pricing model aimed to provide businesses with greater predictability and transparency in their payment processing costs.
Over the years, Fattmerchant steadily grew its customer base by focusing on delivering personalized customer service, user-friendly technology, and competitive pricing. The company positioned itself as a technology-driven payment processor that aimed to simplify the payment acceptance process for businesses while offering cost savings.
In 2018, Fattmerchant secured a significant investment of $5.5 million in a Series B funding round, led by Fulcrum Equity Partners. This investment allowed Fattmerchant to accelerate its growth, expand its product offerings, and invest in technology development.
Since then, Fattmerchant has continued to evolve its platform, introducing new features and integrations to meet the evolving needs of businesses. The company has expanded its reach beyond its initial focus on SMEs to cater to larger enterprises as well.
How Fattmerchant works
Fattmerchant operates as a payment processing company that aims to simplify payment acceptance for businesses. Here’s an overview of how Fattmerchant works:
- Account Setup: To get started with Fattmerchant, businesses need to sign up for an account. This typically involves providing basic information about the business and its payment processing needs.
- Integration and Onboarding: Once the account is set up, businesses may need to integrate the Fattmerchant payment system with their existing infrastructure. This can include integrating with point-of-sale (POS) systems, e-commerce platforms, or other software applications. Fattmerchant provides support and resources to help businesses with the integration process.
- Payment Acceptance: With the Fattmerchant system in place, businesses can start accepting payments from their customers. Fattmerchant supports various payment methods, including credit cards, debit cards, and ACH transfers. Businesses can accept payments in person using card readers or online through their website or virtual terminals.
- Pricing Structure: Fattmerchant operates on a subscription-based pricing model. Instead of charging a percentage-based fee for each transaction, businesses pay a fixed monthly fee based on their processing volume. This can be beneficial for businesses with high transaction volumes, as it offers predictable costs and potentially lower fees compared to traditional payment processors.
- Additional Features: Fattmerchant offers a range of additional features and tools to enhance the payment processing experience. This includes invoicing capabilities, recurring billing options, and integrations with popular accounting software and CRM systems. These features aim to streamline business operations and provide a comprehensive payment solution.
- Reporting and Analytics: Fattmerchant provides businesses with access to reporting and analytics tools. This allows businesses to track their transaction history, analyze sales data, and gain insights into their payment processing activity. These tools can help businesses make informed decisions and optimize their payment acceptance strategies.
- Customer Support: Fattmerchant prides itself on offering personalized customer support. Businesses can reach out to Fattmerchant’s customer service team for assistance with any issues or inquiries related to their payment processing.
It’s important to note that while this provides a general overview of how Fattmerchant works, the specific implementation and features may vary based on individual business needs and the evolving offerings of Fattmerchant.
For the most accurate and up-to-date information, it’s recommended to visit the Fattmerchant website or reach out to their customer support directly.
Can Fattmerchant be trusted
Fattmerchant has gained a positive reputation in the payment processing industry and has established itself as a reputable company. Here are a few factors that contribute to the trustworthiness of Fattmerchant:
- Transparent Pricing: Fattmerchant is known for its transparent pricing model. Instead of charging businesses a percentage-based fee for each transaction, it offers a subscription-based pricing structure. This model provides businesses with more predictability and transparency in their payment processing costs. The transparent pricing approach helps build trust by ensuring businesses have a clear understanding of the fees they are being charged.
- Positive Customer Reviews: Fattmerchant has received generally positive reviews from its customers. Many businesses appreciate the personalized customer service, user-friendly technology, and competitive pricing offered by Fattmerchant. Positive customer reviews indicate a level of trust and satisfaction with the company’s services.
- Strong Industry Presence: Fattmerchant has gained recognition within the payment processing industry. The company has processed billions of dollars in transactions and served thousands of businesses across various industries. Its growth and presence in the industry signify a level of credibility and reliability.
- Secure Payment Processing: Fattmerchant prioritizes the security of transactions and customer data. The company adheres to industry-standard security practices and compliance regulations, including PCI-DSS (Payment Card Industry Data Security Standard) compliance. This focus on security helps build trust by ensuring that businesses’ and customers’ sensitive information is protected.
- Established Track Record: Fattmerchant has been operating since 2014 and has steadily grown its customer base over the years. Its longevity in the industry and track record of providing payment processing services contribute to its trustworthiness.
While Fattmerchant has garnered a positive reputation, it’s important to note that trust is subjective, and individual experiences may vary. It’s recommended to conduct your own research, read reviews, and assess your specific business needs before making a decision.
Additionally, as with any service provider, it’s advisable to review the terms and conditions, as well as any agreements or contracts, before entering into a business relationship.
Does Fattmerchant charge a fee
Yes, Fattmerchant charges a fee for its payment processing services. However, unlike traditional payment processors that typically charge a percentage-based fee per transaction, Fattmerchant operates on a subscription-based pricing model.
With Fattmerchant, businesses pay a fixed monthly fee based on their processing volume, rather than a percentage-based fee for each transaction. This subscription fee covers the cost of using Fattmerchant’s payment processing platform and accessing its features and services.
The specific fee structure will vary depending on the business’s processing volume and the plan they choose.
Fattmerchant offers different pricing plans tailored to the needs of different businesses, including small businesses and enterprises. The pricing plans are designed to provide businesses with flexibility and transparency in their payment processing costs.
By using a subscription-based model, Fattmerchant aims to provide businesses with more predictable and manageable costs, particularly for businesses with high transaction volumes. It can also potentially result in lower fees compared to the percentage-based pricing models used by traditional payment processors.
What is Worldpay
Worldpay is a global payment processing company that provides a range of payment solutions and services to businesses of all sizes. It enables merchants to accept electronic payments, including credit cards, debit cards, and alternative payment methods, both online and in-person.
Worldpay was founded in 1989 and has grown to become one of the largest payment processing companies in the world. It operates in over 146 countries and processes millions of transactions every day. The company offers a variety of payment processing options, such as point-of-sale systems, online payment gateways, virtual terminals, and mobile payment solutions.
In addition to payment processing, Worldpay also provides value-added services to merchants, including fraud prevention tools, data analytics, reporting, and customer insights. These services help businesses optimize their payment processes, manage risk, and improve the overall customer experience.
Over the years, Worldpay has developed a reputation for its robust infrastructure, security measures, and reliability, making it a trusted partner for businesses looking to accept and process payments securely and efficiently.
In 2019, Worldpay was acquired by Fidelity National Information Services (FIS), a global financial technology company, which further expanded its capabilities and reach in the payment industry.
The history of Worldpay
The history of Worldpay can be traced back to 1989 when the company was founded in the United Kingdom. Initially known as “Streamline,” it was established as a collaboration between several major UK banks, including National Westminster Bank (NatWest) and Royal Bank of Scotland (RBS), with the aim of providing payment processing services to businesses.
In its early years, Streamline focused on offering card payment solutions to brick-and-mortar retailers, allowing them to accept credit and debit card payments at the point of sale. The company quickly gained traction and expanded its services across the UK, becoming one of the leading payment processors in the country.
In 2002, Streamline merged with another payment processing company called “Worldpay” to form what is now known as Worldpay. Worldpay had originally been established in 1989 as an offshoot of the Royal Bank of Scotland, providing payment processing services for mail order and telephone order (MOTO) businesses.
Following the merger, Worldpay continued its growth trajectory and expanded internationally. It established operations in the United States, Europe, Asia, and other regions, gradually becoming a global player in the payment processing industry.
In 2010, the Royal Bank of Scotland Group sold its majority stake in Worldpay to private equity firms Advent International and Bain Capital, which took over as the new owners. This change in ownership brought further investment and resources to support Worldpay’s expansion plans.
In 2013, Worldpay was acquired by another private equity consortium comprising Advent International and Bain Capital, alongside Canadian pension fund Canada Pension Plan Investment Board (CPPIB). Under the new ownership, Worldpay continued to innovate and develop its payment solutions, expanding its capabilities to include online and e-commerce payment processing.
In 2015, Worldpay became a publicly traded company, listing its shares on the London Stock Exchange. This initial public offering (IPO) was one of the largest fintech IPOs in Europe at the time and marked a significant milestone in the company’s history.
In 2018, Worldpay attracted the attention of two major players in the payment industry: Vantiv, a U.S.-based payment processing company, and FIS (Fidelity National Information Services), a global financial technology company. Vantiv acquired Worldpay and subsequently merged with FIS, creating one of the world’s largest payment technology and services companies.
Following the merger, the combined entity retained the Worldpay name and continued to operate as Worldpay, now under the ownership of FIS. This consolidation brought together the expertise, resources, and global reach of both companies, further strengthening Worldpay’s position in the payment processing industry.
It’s worth noting that the information provided here is accurate up until my last knowledge update in September 2021. For the most up-to-date information on Worldpay, it is recommended to refer to official sources or news outlets.
How Worldpay works
Worldpay provides payment processing services that enable businesses to accept and process electronic payments from customers. Here’s an overview of how Worldpay works:
- Integration: Businesses integrate Worldpay’s payment processing solutions into their existing systems, whether it’s an online e-commerce platform, a point-of-sale (POS) system, or a mobile app. Worldpay offers various integration options, including APIs (Application Programming Interfaces) and plugins for popular e-commerce platforms.
- Customer Payment: When a customer makes a purchase, they select their preferred payment method, such as a credit card, debit card, or alternative payment method. Worldpay supports a wide range of payment options, including major card networks like Visa, Mastercard, and American Express, as well as digital wallets like Apple Pay, Google Pay, and PayPal.
- Transaction Authorization: Once the customer submits their payment information, Worldpay securely processes the transaction. This involves verifying the customer’s payment details, checking for sufficient funds, and performing fraud prevention checks to ensure the transaction is legitimate.
- Payment Routing: Worldpay routes the payment request to the appropriate financial institution, such as the customer’s card issuer or bank, for authorization. This process involves securely transmitting the payment data and obtaining approval or denial from the financial institution.
- Authorization Response: The financial institution sends an authorization response back to Worldpay, indicating whether the transaction is approved or declined. Worldpay receives and interprets this response, which determines whether the customer’s payment is accepted or rejected.
- Funds Settlement: If the transaction is approved, Worldpay facilitates the settlement process. This involves transferring the funds from the customer’s account to the merchant’s account. Settlement timelines can vary based on factors such as the payment method, currency, and merchant agreement.
- Reporting and Analytics: Worldpay provides merchants with detailed reporting and analytics tools to monitor their payment transactions, track sales, and gain insights into customer behavior. These tools help businesses optimize their payment processes, identify trends, and make informed business decisions.
- Security and Compliance: Worldpay places a strong emphasis on security and compliance to protect sensitive payment data. It employs industry-standard security measures, including encryption, tokenization, and secure data transmission protocols. Worldpay also adheres to global payment card industry standards, such as the Payment Card Industry Data Security Standard (PCI DSS), to ensure data protection and maintain compliance.
- Value-Added Services: In addition to payment processing, Worldpay offers various value-added services to merchants. These services may include fraud detection and prevention tools, chargeback management, recurring billing solutions, multi-currency processing, and customized reporting options.
By leveraging Worldpay’s payment processing services, businesses can streamline their payment operations, provide a variety of payment options to customers, and securely process transactions, ultimately enhancing the overall customer experience and facilitating business growth.
Can Worldpay be trusted
Worldpay, as a well-established and reputable payment processing company, has earned trust from businesses and customers worldwide. Here are a few reasons why Worldpay can be considered trustworthy:
- Industry Experience: Worldpay has been operating in the payment processing industry since 1989, making it one of the longest-standing and most experienced players in the field. Its long history and extensive expertise have contributed to building a solid reputation.
- Global Presence: Worldpay operates in over 146 countries, serving businesses of all sizes across various industries. Its wide geographical reach and extensive customer base attest to the trust placed in the company’s services.
- Security Measures: Worldpay places a strong emphasis on security to protect sensitive payment data. It adheres to industry-standard security protocols, including encryption, tokenization, and secure data transmission. By maintaining compliance with the Payment Card Industry Data Security Standard (PCI DSS), Worldpay ensures the secure handling of cardholder information.
- Reliability and Infrastructure: Worldpay boasts a robust and reliable payment infrastructure, capable of handling large transaction volumes and maintaining uptime. Its systems are designed to provide seamless payment processing, minimizing disruptions and ensuring a smooth payment experience for businesses and customers.
- Compliance with Regulations: Worldpay complies with relevant industry regulations and standards, such as PCI DSS, to ensure data protection and maintain secure payment processing practices. By adhering to these regulations, Worldpay demonstrates its commitment to maintaining the highest standards of security and compliance.
- Trustworthy Partnerships: Worldpay has established partnerships with major financial institutions, technology providers, and industry organizations. These partnerships validate Worldpay’s credibility and enhance its ability to deliver reliable and innovative payment solutions.
- Customer Support: Worldpay offers customer support services to assist businesses with any payment-related queries or issues they may encounter. The availability of dedicated support channels and knowledgeable staff helps build trust and confidence in the company’s services.
However, it is important to note that trust can also depend on individual experiences and requirements. Different businesses and customers may have varying needs and preferences. It is advisable to conduct thorough research, review the specific terms and conditions, and consider the suitability of Worldpay’s services for your particular business before making a decision.
Does Worldpay charge a fee
Yes, Worldpay charges fees for its payment processing services. The specific fees and pricing structure can vary depending on factors such as the type of business, transaction volume, payment methods accepted, and the country or region in which the business operates.
Worldpay typically charges a combination of fixed fees and transaction-based fees. Fixed fees may include charges for services such as account setup, monthly maintenance, and equipment rental (if applicable). Transaction-based fees are typically a percentage of the transaction amount or a fixed fee per transaction.
The exact fee structure and rates are determined during the onboarding process when a business signs up with Worldpay. It is recommended to reach out to Worldpay directly or consult their official website to get accurate and up-to-date information on their fees and pricing for your specific business needs.
What is Moneris
Moneris Solutions Corporation, commonly known as Moneris, is a Canadian-based payment processing company. It is one of the largest providers of payment processing solutions in North America, serving businesses of all sizes and industries.
Moneris offers a wide range of payment processing services, including credit card and debit card processing, e-commerce solutions, mobile payments, and gift card programs. The company enables businesses to accept various forms of electronic payments, whether in-store, online, or through mobile devices.
As a payment processor, Moneris connects businesses with financial institutions, allowing them to process transactions securely and efficiently. They provide the necessary infrastructure, software, and support for businesses to accept payments from customers using different payment methods, such as credit cards, debit cards, and contactless payments.
Moneris offers point-of-sale (POS) solutions that integrate with a variety of hardware and software systems, enabling businesses to manage sales, inventory, and customer data. Their payment solutions are designed to be flexible, scalable, and customizable to meet the specific needs of different industries.
Overall, Moneris plays a crucial role in facilitating electronic payments for businesses, helping them streamline their operations, improve customer experience, and securely process transactions.
The history of Moneris
Moneris Solutions Corporation has a rich history that dates back to 2000 when it was established as a joint venture between two of Canada’s largest financial institutions: Royal Bank of Canada (RBC) and Bank of Montreal (BMO). The name “Moneris” is a combination of the words “money” and “Eris,” the Greek goddess of discord and rivalry.
Here’s an overview of the key milestones in the history of Moneris:
- 2000: Moneris is founded as a joint venture between RBC and BMO, aiming to provide payment processing services to businesses across Canada.
- 2002: Moneris expands its operations by acquiring Ernex Marketing Technologies, a company specializing in loyalty and gift card programs.
- 2006: Moneris enters the U.S. market by acquiring the U.S. payment processing assets of NOVA Information Systems.
- 2008: Moneris launches eSELECTplus, a web-based payment processing platform that enables businesses to accept online payments securely.
- 2012: Moneris acquires the payment processing division of RBS WorldPay in Canada, further expanding its market presence.
- 2013: Moneris partners with Discover Financial Services to enable acceptance of Discover and Diners Club cards at Moneris merchants across Canada.
- 2015: Moneris introduces PAYD Pro, a mobile point-of-sale solution that allows small businesses to accept payments using smartphones and tablets.
- 2017: Moneris partners with Kount, a leading fraud prevention solution, to enhance its security and fraud detection capabilities.
- 2018: Moneris collaborates with Apple to bring Apple Pay to its merchant base in Canada, allowing customers to make contactless payments using Apple devices.
- 2019: Moneris launches PAYD Now, a mobile debit and credit card reader for small businesses, providing them with an affordable and portable payment solution.
Since its inception, Moneris has continued to innovate and expand its range of payment processing solutions. Today, it remains a leading provider of payment processing services in Canada, serving businesses of all sizes and industries.
How Moneris eSELECTplus works
Moneris eSELECTplus is a web-based payment processing platform that enables businesses to accept payments securely over the internet. Here’s an overview of how it works:
- Integration: Businesses integrate the Moneris eSELECTplus platform into their website or e-commerce system. This integration can be done using various methods, including APIs (Application Programming Interfaces), plugins, or shopping cart modules.
- Customer Checkout: When customers make a purchase on the business’s website, they proceed to the checkout page. At this point, the Moneris eSELECTplus platform comes into play.
- Payment Information: Customers enter their payment information, including credit card details (such as card number, expiry date, and CVV) or select alternative payment methods, depending on what options the business has made available.
- Secure Transmission: Moneris eSELECTplus ensures that the payment information is transmitted securely over the internet. It employs encryption and industry-standard security protocols, such as SSL (Secure Socket Layer), to protect sensitive data during transmission.
- Authorization: The payment information is securely transmitted to the respective payment networks, such as Visa, Mastercard, or other payment processors. Moneris eSELECTplus communicates with these networks to authorize or decline the transaction based on factors like available funds and fraud checks.
- Response and Confirmation: The authorization response from the payment network is received by Moneris eSELECTplus. Depending on the response, the platform generates a confirmation or decline message, which is then displayed to the customer.
- Transaction Settlement: If the payment is authorized, the transaction is processed for settlement. Moneris eSELECTplus communicates with the respective financial institutions involved in the transaction, such as the customer’s issuing bank and the merchant’s acquiring bank, to settle the funds.
- Reporting and Management: Moneris eSELECTplus provides businesses with comprehensive reporting and management tools. Merchants can access transaction details, reconcile payments, generate reports, and manage their account settings through the eSELECTplus online portal.
It’s important to note that the specific implementation of Moneris eSELECTplus may vary based on the business’s requirements, integration method, and customization options. However, the underlying process generally follows these steps to facilitate secure online payment processing for businesses.
Can Moneris eSELECTplus be trusted
Moneris eSELECTplus is a widely recognized and trusted payment processing platform in Canada. As a joint venture between two major Canadian financial institutions, Royal Bank of Canada (RBC) and Bank of Montreal (BMO), Moneris has built a strong reputation over the years.
Here are some factors that contribute to the trustworthiness of Moneris eSELECTplus:
- Industry Experience: Moneris has been in operation since 2000 and has become one of the largest payment processors in North America. Its long-standing presence in the industry demonstrates its stability and reliability.
- Financial Institution Backing: Moneris is backed by RBC and BMO, two highly reputable and well-established Canadian banks. Their involvement provides an added layer of confidence in the security and integrity of the payment processing services offered by Moneris.
- Compliance and Security Measures: Moneris adheres to stringent industry standards and compliance requirements, including Payment Card Industry Data Security Standard (PCI DSS) compliance. This ensures that customer data is handled securely and in accordance with industry best practices.
- Fraud Prevention: Moneris employs robust fraud detection and prevention measures to safeguard against fraudulent transactions. They have partnerships with leading fraud prevention solutions, such as Kount, to enhance their security capabilities.
- Customer Support: Moneris offers customer support and technical assistance to merchants using the eSELECTplus platform. This support helps businesses resolve any issues or concerns they may encounter during payment processing.
- Market Presence: Moneris serves a vast customer base across various industries, including small businesses, large enterprises, and e-commerce platforms. Its widespread adoption and positive customer reviews contribute to its trustworthiness.
It’s important to note that no system is entirely immune to security breaches or issues. However, Moneris eSELECTplus has established itself as a reputable and trusted payment processing platform with a strong track record. Businesses can rely on Moneris to provide secure and reliable payment processing services.
Does Moneris eSELECTplus charge a fee
Yes, Moneris eSELECTplus charges fees for its payment processing services. The specific fees can vary depending on factors such as the type of business, transaction volume, payment methods accepted, and other factors. It is common for payment processors to have a fee structure that includes various components. Here are some common types of fees associated with Moneris eSELECTplus:
- Transaction Fees: These fees are charged per transaction and may vary based on the type of payment (credit card, debit card, etc.), the transaction volume, and the card brand (Visa, Mastercard, etc.). Transaction fees typically include an authorization fee and a percentage-based fee on the transaction amount.
- Monthly/Annual Fees: Moneris eSELECTplus may have recurring monthly or annual fees to cover the cost of maintaining the payment processing services and providing ongoing support. These fees can vary based on the specific service package or plan chosen by the merchant.
- Setup/Installation Fees: There may be one-time setup or installation fees associated with getting started with Moneris eSELECTplus. These fees cover the initial onboarding process and configuring the payment processing system for the merchant’s specific needs.
- Chargeback Fees: In the event of a chargeback (when a customer disputes a transaction), Moneris eSELECTplus may charge a fee for handling the chargeback process. Chargeback fees help cover the administrative costs associated with resolving disputes.
- Additional Service Fees: Depending on the merchant’s requirements, there may be additional fees for value-added services or additional features offered by Moneris eSELECTplus. For example, if a merchant needs additional reporting capabilities or advanced fraud prevention tools, there may be an additional fee associated with accessing those services.
It’s important for businesses to review and understand the fee structure provided by Moneris eSELECTplus before signing up for their services. The specific fees and pricing details can be obtained directly from Moneris or their sales representatives.
What is BlueSnap
BlueSnap is a global payment processing company that provides a comprehensive platform for online and mobile payments. It offers a range of payment solutions, including online and mobile checkout, subscription billing, invoicing, and marketplaces.
BlueSnap enables businesses to accept payments from customers around the world in multiple currencies and supports various payment methods, including credit cards, debit cards, digital wallets, and local payment options.
The company’s platform is designed to simplify the payment process for businesses and enhance the customer experience. It provides features such as intelligent payment routing, fraud prevention tools, and customizable checkout pages.
BlueSnap also offers advanced reporting and analytics to help businesses gain insights into their payment data and optimize their payment operations.
One of BlueSnap’s key strengths is its ability to handle global payments. It supports over 100 currencies and provides localized payment options for different countries, making it easier for businesses to expand internationally.
The platform also helps businesses comply with regulatory requirements and ensures secure transactions through its robust security measures.
Overall, BlueSnap aims to provide businesses with a seamless and flexible payment solution that can be integrated into various e-commerce platforms and systems. It caters to businesses of all sizes, from small startups to large enterprises, across different industries.
The history of BlueSnap
BlueSnap was founded in 2001 under the name Plimus Inc. by Ralph Dangelmaier, Tomer Herzog, and Aviv Refuah. The company initially focused on providing e-commerce solutions and digital goods distribution services. It offered a platform for online businesses to sell and distribute their digital products and manage their e-commerce operations.
In 2011, Plimus rebranded itself as BlueSnap to reflect its evolution into a global payment processor. The name change signified the company’s commitment to expanding its services beyond digital goods and becoming a comprehensive payment solution provider.
BlueSnap continued to develop its payment platform, offering features such as subscription billing, mobile checkout, and support for multiple payment methods and currencies. It also established partnerships with various acquiring banks and payment networks to expand its global reach.
Over the years, BlueSnap has undergone significant growth and attracted investment from leading venture capital firms. In 2014, Great Hill Partners, a private equity firm, acquired a majority stake in the company to support its expansion plans. This investment enabled BlueSnap to accelerate product development, expand its sales and marketing efforts, and enhance its technology infrastructure.
BlueSnap’s focus on international payment processing has been a key aspect of its growth strategy. The company has expanded its presence in different regions and developed localized payment capabilities to cater to the needs of businesses and consumers worldwide.
BlueSnap has served thousands of businesses across various industries, ranging from e-commerce and software companies to travel and hospitality. It continues to innovate and evolve its payment platform to keep up with the changing needs of the global e-commerce landscape.
How BlueSnap works
BlueSnap provides businesses with a comprehensive payment platform that enables them to accept and process online payments from customers worldwide. Here’s an overview of how BlueSnap works:
- Integration: Businesses integrate BlueSnap’s payment platform into their websites, e-commerce platforms, or mobile applications. BlueSnap offers various integration options, including API integration, hosted payment pages, and pre-built shopping cart plugins for popular e-commerce platforms like Shopify, WooCommerce, and Magento.
- Payment Acceptance: Once integrated, businesses can start accepting payments from customers. BlueSnap supports multiple payment methods, including major credit cards (Visa, Mastercard, American Express, Discover), debit cards, digital wallets (such as PayPal and Apple Pay), and localized payment options specific to certain countries.
- Global Payment Processing: BlueSnap’s platform is designed to handle global payments efficiently. It supports over 100 currencies and provides localized payment options for different countries, allowing businesses to expand their reach internationally. BlueSnap manages the complexities of currency conversion and ensures seamless payment processing across borders.
- Checkout and Payment Experience: BlueSnap offers customizable checkout pages that can be tailored to match a business’s branding and user experience requirements. The checkout process is designed to be user-friendly and optimized for conversion, with features like one-click purchasing and guest checkout options. BlueSnap also supports recurring billing for subscription-based businesses.
- Security and Fraud Prevention: BlueSnap employs robust security measures to protect sensitive payment data. It is Payment Card Industry Data Security Standard (PCI DSS) compliant, ensuring that businesses meet the highest security standards for handling cardholder information. BlueSnap also incorporates advanced fraud prevention tools and employs machine learning algorithms to detect and prevent fraudulent transactions.
- Reporting and Analytics: BlueSnap provides businesses with comprehensive reporting and analytics tools to gain insights into their payment data. The platform offers real-time transaction data, detailed sales reports, and customizable dashboards, allowing businesses to track their payment performance, analyze trends, and make informed business decisions.
- Payouts and Settlement: BlueSnap facilitates timely and accurate payout processes. Once payments are processed, businesses can choose their preferred payout schedule and receive settlements in their desired currency.
- Support and Customer Service: BlueSnap offers customer support to assist businesses with any inquiries or technical issues related to their payment operations. The support team is available via phone, email, or online chat.
Overall, BlueSnap simplifies the payment process for businesses, providing them with a secure and reliable platform to accept payments globally, optimize conversion rates, and manage their payment operations effectively.
Can BlueSnap be trusted
BlueSnap is a reputable global payment processor that has been operating in the industry for over two decades. The company has established partnerships with major acquiring banks, payment networks, and technology providers, which further enhances its credibility. Here are some factors that contribute to the trustworthiness of BlueSnap:
- Industry Experience: BlueSnap has a long-standing history, starting as Plimus Inc. in 2001 and rebranding as BlueSnap in 2011. With over 20 years of experience in the payment processing industry, BlueSnap has developed expertise and a deep understanding of the evolving e-commerce landscape.
- Security and Compliance: BlueSnap prioritizes the security of payment data and is PCI DSS compliant, which means it adheres to strict industry standards for the handling and storage of cardholder information. By maintaining PCI compliance, BlueSnap ensures that businesses can trust their payment operations with a secure and reliable platform.
- Global Reach: BlueSnap’s extensive global presence and support for multiple currencies and payment methods demonstrate its commitment to serving businesses worldwide. The company’s ability to handle international payments and provide localized payment options in various countries is a testament to its reliability and adaptability.
- Partnerships: BlueSnap has established partnerships with reputable acquiring banks, payment networks, and technology providers. These collaborations not only expand BlueSnap’s capabilities but also indicate its credibility within the payment processing ecosystem.
- Positive Reputation: BlueSnap has a track record of serving thousands of businesses across different industries. While it’s always essential to conduct individual research and due diligence, the company has generally garnered positive reviews and testimonials from its clients.
It’s important to note that while BlueSnap provides a reliable payment processing platform, the ultimate trustworthiness and security of any payment transaction also depend on other factors, such as how businesses handle customer data, their own security practices, and compliance with relevant regulations.
As with any business relationship, it’s advisable for businesses to thoroughly evaluate their specific needs, consider the terms and conditions, and conduct their own research before deciding to partner with any payment processor, including BlueSnap.
Does BlueSnap charge a fee
Yes, BlueSnap charges fees for its payment processing services. The specific fees and pricing structure may vary depending on factors such as the type of business, transaction volume, currencies involved, and the specific services and features utilized. BlueSnap typically operates on a “pay-as-you-go” model, where businesses are charged per transaction or based on a percentage of the transaction value.
The fees charged by BlueSnap may include:
- Transaction Fees: These fees are assessed for each completed transaction processed through the BlueSnap platform. Transaction fees are typically calculated as a percentage of the transaction value or as a fixed amount per transaction.
- Currency Conversion Fees: If a transaction involves currency conversion (e.g., a customer paying in a different currency than the merchant’s base currency), BlueSnap may charge a fee for the currency conversion service.
- Cross-Border Fees: For international transactions, where the customer and merchant are in different countries, BlueSnap may impose additional fees to cover the complexities and costs associated with cross-border payment processing.
- Chargeback Fees: In the event of a chargeback, where a customer disputes a transaction and requests a refund, BlueSnap may charge a fee for the administrative costs associated with handling the chargeback process.
It’s important for businesses to review and understand the fee structure and pricing details provided by BlueSnap before integrating their payment platform. Fees can vary based on specific business requirements, volume, and other factors. Businesses should also consider factors beyond fees, such as the quality of service, security measures, support, and additional features provided by BlueSnap when evaluating the overall value and cost-effectiveness of the service.