BlueSnap launches the Powered Buy Platform

BlueSnap’s Powered Buy Platform can help merchants optimise that commerce opportunity and increase their conversions. The launch of the Powered Buy Platform is intended to shine a bright light on what BlueSnap has identified as the “Payments Conversion Problem” – the friction at checkout that BlueSnap estimates can cost a merchant up to 40% of their sales. With Cyber Monday sales expected to top USD 3.2 billion, merchants stand to lose more than USD 1.2 billion.

The Powered Buy Platform provides integration, empowering merchants to deploy enhanced checkout experience to engage their customers – from API to turnkey embedded checkout. Acquiring connections to multiple local banks around the world are provided through a single integration along with failover to maximise payment authorisations. The platform also offers features such as dynamic ecommerce tools, including offers and coupons, subscription billing, fraud prevention and chargeback management.

MasterCard and Visa are each working with BlueSnap to fund the integration to their online checkout options, MasterPass and Visa Checkout, respectively, into the Powered Buy Platform. AppDirect is a market operator in the cloud services sector. AppDirect was in search of a solution that made it easier for cloud-based commerce services to be bought and sold. Paul Arnautoff, Director of Business Development for AppDirect, says that “integrating with the Powered Buy Platform makes it possible for our customers to offer frictionless checkout for their shoppers and overcome the checkout abandonment issues that have created problems for them in the past.”

In collaboration with PYMNTS.com, BlueSnap has launched The Checkout Conversion Index (CCI), which will benchmark quarterly how well merchants are optimising their global, mobile checkout experience. The Index reflects the assessment of more than 650 online websites across 14 merchant categories, representing 70% of the ecommerce market. Overall, merchants are performing marginally better than average, with an Index score this quarter of 62.