BlueSnap

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BlueSnap
BlueSnap Logo
Formerly
Plimus
Private
ISIN🆔
IndustryPayment processor, E-commerce, Financial Services, Merchant Services, Technology
Founded 📆2001
Founder 👔
Headquarters 🏙️Waltham, Massachusetts
Area served 🗺️
Key people
  • Ralph Dangelmaier (CEO)
Members
Number of employees
🌐 Websitehttps://home.bluesnap.com/
📇 Address
📞 telephone

BlueSnap is a global payment gateway and merchant account provider based in Waltham, Massachusetts.[1][2][3]

History[edit]

BlueSnap, formerly named Plimus, was acquired by Great Hill Partners in 2011.[4][5][6][7] Plimus was founded in Israel in 2001 by Tomer Herzog and Danny Kleinberg.[4][6] Plimus allowed Israeli merchants to sell goods globally.[4] The company worked with Uniloc in 2007 to enhance software protection for digitally delivered products.[8] Order1.net, an e-commerce service provider focused on writing software, was acquired in 2007.[9] In 2008, the company raised $18 million from Susquehanna Growth Equity.[5][6]

In 2011, the private equity firm Great Hill Partners based in Boston, acquired Plimus for $115 million and re-branded as BlueSnap.[4][5][6][7] When the company was re-branded, its headquarters moved from California to Waltham, Massachusetts.[4][10] BlueSnap officially began operation in the US in March 2013. That same month, it released SnapMobile.[11][12]

BlueSnap announced a partnership with First Data, a global payment processing company, in November 2014.[13][14] Also in November 2014, the company raised $50 million in growth equity from Great Hills Partners, Parthenon Capital Partners and BlueSnap CEO Ralph Dangelmaier.[1][2][3][4][15]

The company has locations in Waltham, Silicon Valley, Israel, and London.[4][13][15][16] BlueSnap launched the Virtual Terminal with ChargeLink, a system to email pre-filled payment forms to customers while orders are being taken over the phone, later in 2014.[17] GlobalCollect partnered with BlueSnap, announced in November 2014, to aid small and mid-size businesses process cross-border payments.[18]

In 2015, BlueSnap was recognized at the CNP Expo Awards as the Best Alternative Payment Solution and Best Subscription/Recurring Billing Program.[19] Around that same time, BlueSnap announced a partnership with Kount, an antifraud technology provider, to enhance it's suite of fraud protection services.[20] BlueSnap was granted a license by the Financial conduct Authority as a Payment Institution under the Payment Services Directive to further enhance its global payment gateway and help it establish its position as a leading gateway for the international community.[21]

BlueSnap launched the Powered Buy Platform(TM) in November 2015. The Powered Buy Platform enables retailers to provide numerous checkout experiences, either through an API or a turnkey embedded checkout. The platform integration enables merchants to connect to multiple acquiring banks, and includes a failover mode to maximize payment authorizations. The platform includes value-added features such as dynamic e-Commerce tools, including offers and coupons, subscription billing, fraud prevention and chargeback management.[22]

In May 2016, Kount, integrates to the BlueSnap Powered Buy Platform to allow Bluesnap offer a cleanse report for merchants. The report combines payment data from their platform with shopper data from Kount in order to gain a deeper understanding of the customers and ability to optimize the sales funnel and strategy.[23] BlueSnap announced MasterPass by MasterCard is now available in its Powered Buy Platform.[24]

BlueSnap was recognized, for the second year in a row, at the CNP Expo Awards as the Customer's favorite in the Best Alternative Payment Solution and Best Subscription / Recurring Billing Solution categories.[25]

See also[edit]

  • List of foreign exchange companies
  • Payment gateway
  • Merchant account
  • E-commerce payment system
  • Electronic money
  • Alternative payments

References[edit]

  1. 1.0 1.1 "Expert Interview with Ralph Dangelmaier on the Future of eCommerce". Intuit Mint. Retrieved April 6, 2015.
  2. 2.0 2.1 Sara Castellanos (December 24, 2014). "Top 10 Boston-area venture capital deals of 2014". Boston Business Journal. Retrieved April 6, 2015.
  3. 3.0 3.1 Jonathan Shieber (November 4, 2014). "BlueSnap Raises $50 Million For Its Global Payment Processing Tech". TechCrunch. Retrieved April 6, 2015.
  4. 4.0 4.1 4.2 4.3 4.4 4.5 4.6 Dennis Keohane (November 4, 2014). "BlueSnap gets $51 million to globalize payments". BetaBoston. Retrieved April 6, 2015.
  5. 5.0 5.1 5.2 Leena Rao (August 8, 2011). "E-Commerce Platform For Retailers Plimus Acquired By PE Firm For $115 Million". TechCrunch. Retrieved April 6, 2015.
  6. 6.0 6.1 6.2 6.3 Roy Goldenberg (August 8, 2008). "E-business co Plimus sold for $115m". Globes. Retrieved April 6, 2015.
  7. 7.0 7.1 Don Seiffert (December 6, 2012). "Payment processing biz BlueSnap set for launch". Mass High Tech. Retrieved April 6, 2015.
  8. "Plimus and Uniloc Form Software Validation Partnership". Wireless News. August 12, 2007.
  9. "Plimus Acquires Order1.Net". SocialTech.com. January 5, 2007. Retrieved April 6, 2015.
  10. Kyle Alspach (December 10, 2013). "PayPal competitor BlueSnap expands in Mass. after move from Calif". TechFlash. Retrieved April 6, 2015.
  11. Bailey Reutzel (April 24, 2013). "BlueSnap Offers SnapMobile to Facilitate Mobile Commerce Sales". PaymentsSource.
  12. John Larrabee (March 5, 2013). "West Coast biz moves to Boston, promises to simplify online payments". TechFlash. Retrieved April 6, 2015.
  13. 13.0 13.1 "BlueSnap, First Data Partner for Better Global Payments Processing". PYMNTS.com. November 20, 2014. Retrieved April 6, 2015.
  14. Abby Callard (November 20, 2014). "BlueSnap e-commerce clients can now use First Data for payment security". Internet Retailer. Retrieved April 6, 2015.
  15. 15.0 15.1 "BlueSnap Raises $50M Growth Equity Round". Parthenon Capital Partners. November 4, 2014. Retrieved April 6, 2015.
  16. Will Flanagan (February 6, 2015). "A Braintree Competitor Opens a Chicago Office After Raising $50M in 2014". Chicago Inno. Retrieved April 6, 2015.
  17. Kristin Broughton (December 2, 2014). "BlueSnap Mixes Phone Calls, Mobile Web in New Platform". PaymentsSource.
  18. "GlobalCollect partners BlueSnap to help small businesses". The Paypers. November 7, 2014. Retrieved April 6, 2015.
  19. "2015 CNP Award Winners Revealed". CardNotPresent. May 2015. Retrieved June 4, 2015.
  20. CardNotPresent.com, D.J. Murphy, Editor-in-Chief,. "BlueSnap, Kount Partner for Fraud Prevention - June 4, 2015 CardNotPresent.com". cardnotpresent.com. Retrieved 2016-07-06.
  21. "Payment gateway BlueSnap granted FCA licence". Tech City News. 2015-05-07. Retrieved 2016-07-06.
  22. "BlueSnap Launches Powered Buy Platform, Launches Checkout Conversion Index". Retrieved 2016-07-06.
  23. "Kount Integrates Fraud Protections With MasterCard, BlueSnap And Ethoca Solutions". Retrieved 2016-07-06.
  24. Reserved, Copyright (c) Website Magazine All Rights. "Reach a Global Audience with BlueSnap and MasterPass - 'Net Features - Website Magazine". www.websitemagazine.com. Retrieved 2016-07-06.
  25. "The 2016 CNP Awards: Winners". cardnotpresent.com. Retrieved 2016-07-06.

External links[edit]

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