Tag Archives: fintech; payments

AR, News

BlueSnap Enhances AR Automation Solution with Surcharging and Additional Payment Methods

The enhanced AR automation solution will help businesses get paid faster, add additional payment methods and improve buyer experience.

Wednesday, May 22, 2024 , Boston, MA/London, UK: BlueSnap, the global payment orchestration platform of choice for leading B2B and B2C businesses, has enhanced their accounts receivable (AR) automation solution with surcharging and additional payment methods to support the growing needs of B2B businesses.

Suppliers and vendors that use AR automation for their B2B businesses see significant improvements in operation by streamlining various aspects of the payment process. AR automation leads to quicker responses and ensures both parties have a clear understanding of invoice and payment statuses.

The surcharge functionality adds a fee to cover the cost of the transaction for businesses and transfer the costs to their customers. The new functionality also adds the ability for businesses to apply a surcharge fee to automated clearing house (ACH) and Bulk Electronic Clearing System (BECS) payments. BlueSnap’s technology has also implemented validation to prohibit surcharge fees where they are not compliant.

By passing payment processing fees to customers, businesses can reduce expenses while allowing customers to choose their preferred payment type, including credit cards, which businesses might otherwise not be able to accept because of the associated fees. For all businesses, especially those with smaller margins, any cost reduction is a big help.

Henry Helgeson, CEO at BlueSnap, says: “We at BlueSnap are always looking for ways to innovate and improve the AR experience for B2B businesses. These new enhancements to our AR automation solution remove any barriers B2B businesses once had around the costs associated with letting their customers use their preferred payment methods or the complexity of implementation, while improving the overall buyer experience.”

BlueSnap is also adding additional payment methods to expand support for global shoppers, with support for SEPA, BECS Direct Debit, and EFT Direct Debit to the Payment Link. The additional payment methods and support allow businesses to offer their customers more ways to pay, speeding up the collections process and making it effortless, no matter how customers want to settle their invoices. For businesses, this means being paid quicker, and for customers, it gives them more options and flexibility in how they can pay B2B invoices,

About BlueSnap: 

BlueSnap helps businesses accept global payments in a better way. Our Global Payment Orchestration Platform is designed to increase sales and reduce costs for all businesses accepting payments. BlueSnap supports payments across all geographies through multiple sales channels such as online and mobile sales, marketplaces, subscriptions, invoice payments and manual orders through a virtual terminal. And for businesses looking for global embedded payments, we offer white-labelled payments for platforms with automated underwriting and onboarding that supports marketplaces and split payments. BlueSnap is backed by world-class private equity investors including Great Hill Partners and Parthenon Capital Partners. Learn more at BlueSnap.com

FInance

TransferGo partners with Currencycloud to power P2P cross-border payments in 55 markets

TransferGo, one of the world’s fastest growing money transfer companies, today announced it is partnering with global payments platform Currencycloud to facilitate cross-border payments and launch in 14 new markets during Q1 of this year. As a result, the TransferGo and Currencycloud partnership will be available in 69 countries globally.

Remittance flows to developing countries are on the rise, with the World Bank estimating that annual remittances to low- and middle-income countries reached $529 billion in 2018, a 9.6 per cent increase from the previous year and a figure that eclipses the total GDP of Argentina.

Yet transferring funds across borders can be cumbersome, with bureaucracy and fees imposed by banks for processing payments in other countries and currencies.

Through partnerships with leading payments platforms such as Currencycloud, TransferGo will undo this trend and democratise remittances for users across markets including Kenya, Japan, Malaysia, the UAE and many more.

Commenting on the partnership with Currencycloud and global expansion, TransferGo CEO and co-founder Daumantas Dvilinskas said:

“Our mission is to create financial options and access for hardworking migrant communities around the world. At the same time, we recognise that our customers the world over have unique money transfer needs. Our partnership with Currencycloud will help us meet these varying needs with further scale and reach.”

Digby Try, VP of Sales, EMEA at Currencycloud said:

“Currencycloud was launched with the intention of democratising cross-border payments. Working with TransferGo is a perfect example of how we envisaged helping to make the complicated, opaque and expensive process of sending money overseas far more simple.”

Based in London, UK, TransferGo is the quickest, most reliable remittance company in Europe, rated ‘excellent’ on Trustpilot (4.8) and with an NPS score of 75, it has built a much-loved brand based on transparency, trust and user experience. Last year the company announced a fee-free offer – the first completely free international money transfer service.