BlueSnap

BlueSnap
Formerly called
 Plimus
Private
Industry Payment processor, E-commerce, Financial Services, Merchant Services, Technology
Founded 2001
Headquarters Waltham, Massachusetts
Key people
  • Ralph Dangelmaier (CEO)
Website https://home.bluesnap.com/

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

History

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

References

  1. 1 2 "Expert Interview with Ralph Dangelmaier on the Future of eCommerce". Intuit Mint. Retrieved April 6, 2015.
  2. 1 2 Sara Castellanos (December 24, 2014). "Top 10 Boston-area venture capital deals of 2014". Boston Business Journal. Retrieved April 6, 2015.
  3. 1 2 Jonathan Shieber (November 4, 2014). "BlueSnap Raises $50 Million For Its Global Payment Processing Tech". TechCrunch. Retrieved April 6, 2015.
  4. 1 2 3 4 5 6 7 Dennis Keohane (November 4, 2014). "BlueSnap gets $51 million to globalize payments". BetaBoston. Retrieved April 6, 2015.
  5. 1 2 3 Leena Rao (August 8, 2011). "E-Commerce Platform For Retailers Plimus Acquired By PE Firm For $115 Million". TechCrunch. Retrieved April 6, 2015.
  6. 1 2 3 4 Roy Goldenberg (August 8, 2008). "E-business co Plimus sold for $115m". Globes. Retrieved April 6, 2015.
  7. 1 2 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. 1 2 "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. 1 2 "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.
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