The Silicon Review
A single integration to accept more payments and accelerate commerce.
BlueSnap is a global payments technology company that optimizes global, mobile checkout and drives higher payment conversions for businesses worldwide. Its All-In-One Payment Platform fuels the growth for businesses eager to serve the global consumer and take advantage of the incremental sales opportunities that they represent.
Headquartered in Boston, MA, BlueSnap employs approximately 120 people, and is growing well over 100% year-over-year. In addition to its Boston HQ, the company has an office in London, employees working in California, and R&D and data centers in Israel.
Deep Dive into BlueSnap
BlueSnap was established in Israel in 2001, as a payment platform that could help Israeli merchants sell goods online. The team wanted to build a global online payment service that could accept credit cards, and as a result, they wanted to expand to an international market. Private equity firm Great Hill Partners discovered the company and in 2011, they acquired it with the intention of bringing the technology to the United States. They viewed it as an opportunity to help the company expand the business and execute on significant growth plans. As part of their acquisition, Great Hill decided to move the BlueSnap offices to Boston, and hire a new executive team.
The company’s focus was to build a product that has the same breadth of functionality as its competitors (like Stripe, Braintree, and PayPal), but with a less painful experience in terms of the onboarding process. Other online payment solutions are heavily geared towards the developer crowd, and there’s limited support. BlueSnap, on the other hand, offers customer consultation to help make sure the customer is getting what they need.
That team consists of Ralph Dangelmaier and some team members from his other FinTech Company, P&H Solutions. Back in 1997, P&H built the first online business banking system which was acquired by ACI Worldwide. In 2014, Parthenon Capital Partners, another private equity firm, invested $50M in funding alongside Great Hill in order to accelerate product development.
The All-In-One Payment Platform
BlueSnap has built an amazing solution, the only payment solution one will ever need. It’s simple, powerful, and drastically elevates shopper conversion. When people buy online, they don’t care about what happens behind the scenes - they just want the transaction to happen easily, quickly and securely. For business owners, the process should be easy, global, and standardized. Merchants spend countless hours bringing their products to market, they deserve the technology, tools, and support to create an exceptional buying experience. However there are multiple ways to conduct a transaction. Most payment providers are set up to handle only one of those channels. BlueSnap’s platform can accept payments through multiple methods such as online checkout, invoicing, subscriptions, virtual terminal, and through marketplaces like eBay, where a merchant may sell to many people. The company’s customers include Autodesk, Bullhorn, Fleetmatics, Web.com, and Continuum.
Perfect for SMBs
BlueSnap is currently integrated with online shopping carts such as Big Commerce, WooCommerce, PrestaShop, Shopify, and Magento. It supports Apple Pay, Masterpass, Visa Checkout, PayPal, and Alipay. The company is rolling out new integrations and platforms all the time. BlueSnap is competing in a market where there are a growing number of companies at all levels - large financial companies and upstarts who are getting a lot of publicity. But there are huge opportunities because of the size of the market. The BlueSnap team is confident that its platform will continue to help companies grow, as online sales and mobile shopping continue to increase exponentially.
To Quote The Clients…
“As a fast growing startup, we needed a global payment gateway that would eliminate the heavy lifting so we could focus on our product and our customers. BlueSnap was the best solution available. We’re selling around the world and our development team gets to focus on building the world’s best video creation platform.”
- Oren Boiman, Co-Founder and CEO, Magisto
“Our new integration was a much more seamless experience for our clients. We knew we had made a good decision when we saw our bounce rate drop overnight on the checkout page from 25% to less than 1%. Overnight. The new BlueSnap checkout experience had a direct and immediate impact.” - Melissa Malone, COO, Gelmix
Ralph Dangelmaier, CEO: A payment processing veteran, Ralph brings a wealth of experience creating products for retailers, processors and financial institutions and has a proven track record of growing companies both organically and through M&A activity. Under his stewardship, companies have successfully capitalized on the rapid growth in commerce to increase their revenue and stock value. Ralph has more than 25 years of experience in strategy, marketing, sales, and revenue, product, SaaS, development and delivery services for global customer base. Most recently, Ralph served as the President of Global Markets and Services for ACI Worldwide, a global provider of electronic payment software and solutions. Prior to ACI, he was the CEO of P&H Solutions, leading the business from its early stages to more than $40 million of revenue before its acquisition by ACI in 2006. He is a frequent thought leadership speaker at mobile, payments and tech conferences, and has had numerous TV appearances and authored several articles in major tech, payments and eCommerce publications.