Your Global Payments Scorecard [Quiz]

Local card acquiring is when the acquiring bank and issuing bank are both in the same region. Using local card acquiring whenever possible reduces fees and increases authorization rates. 

Payment orchestration is the back-end management of the full payment process from start to finish. A payment orchestration platform simplifies the complexities of payments, giving companies full control to manage payments, allowing for differences by country, by product, by issuer and more.

Cross-border payments, or cross-border transactions, occur when the acquiring bank and the issuing bank are in different regions. When banks process cross-border payments, they perceive them to be riskier than domestic transactions, leading to higher fees and a greater likelihood of being declined.

As international commerce grows, B2B cross-border payments are increasingly important as B2C payments, but functionally they often lag behind B2C payments in terms of customer experience, transaction speed, amount of manual effort required and more. B2B companies can close that gap, and see a 25% uptick in conversion rates, by choosing a payment processor optimized for cross-border transactions.

The exact cost of fees will depend on where in the world your business is based, and the currency used for the transaction, but they can run up to an additional 2%.

Yes, unnecessary cross-border fees and foreign transaction fees can be avoided. When you use a payment provider that can help you process your payments as if they were local with local card acquiring, helping to increase your authorization rates and avoid unnecessary fees.

BlueSnap allows businesses to accept global payments as part of its Global Payment Orchestration Platform. With BlueSnap, businesses can accept payments from over 200 regions with a single integration and one account, streamlining their global sales operations substantially.

BlueSnap’s Global Payment Orchestration Platform is a unified payments solution that consolidates multiple payment methods, acquirers and geographies into a single integration and account – it’s the payment processing and the orchestration in one. It offers a modular, API-driven infrastructure that allows businesses to turn services on or off by country, product, issuer and more.

Yes. BlueSnap supports preferred global payment types and currencies, including digital wallets, ACH, SEPA, major cards and local payment methods. This ensures that customers can pay how they prefer, improving your conversions and customer satisfaction.

BlueSnap uses a variety of strategies to optimize payments, including:

• Intelligent payment routing through a global network of banks and acquirers
• Failover transactions to secondary acquiring banks if the first attempt fails
• Smart retry logic that reattempts failed transactions at the best possible time
• Local acquiring to reduce cross-border fees and increase approval rates
• Real-time analytics to identify and act on payment issues quickly

BlueSnap does all of this to help you increase your authorization rates and lower the costs associated with payments.

BlueSnap is uniquely positioned as a Global Payment Orchestration Platform that boosts ROI by increasing authorization success, reducing costs, enhancing user experience, and simplifying global scalability—supported by expert assistance and modular flexibility.