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70% of Businesses Want a Single Payment Provider According to New Mercator Advisory Group Survey

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70% of Businesses Want a Single Payment Provider According to New Mercator Advisory Group Survey

BlueSnap All-in-one platform streamlines global payments for businesses of all sizes

PR Newswire

BOSTON, Aug. 23, 2018 /PRNewswire-PRWeb/ -- According to a recent survey conducted by leading independent research and advisory firm Mercator Advisory Group, 73 percent of small businesses said they would prefer to deal with one vendor for their payment acceptance services. However, at least 25 percent of these businesses are still engaging with multiple payment providers, which adds complexity to the process and negatively impacts their bottom line.

The reality of today's business environment means that using multiple payment providers will actually drain organizational resources because each vendor brings more logistical and technical issues to the payments process. Now through a single integration, BlueSnap offers businesses struggling with this issue a proven solution to ease the pain points of dealing with several payment providers. Businesses no longer have to rely on several payment vendors to grow their business.

"We hear from businesses that they constantly need to integrate to different payment solutions to address their growing needs either because their customers want different payment methods or they are expanding internationally," said Ralph Dangelmaier, CEO of BlueSnap. "As a result, their valuable development resources are spent developing new integrations and managing their payment solution cluster. Also, they spend too much time reconciling different accounts using inconsistent reporting formats and data points. The All-in-one Payment Platform increases sales and reduces costs through one easy integration bringing more value for domestic and global clients."

BlueSnap has developed All-in-one Payment Platform to save businesses time, money, and developer resources. Through this single-integration solution, BlueSnap provides businesses with:

  • One contract, one account, one integration, one payout, and one report to simplify payment management
  • Payment gateway and connection to multiple global acquiring banks for increased conversions and lower foreign exchange fees
  • Support for online and mobile sales, subscriptions, invoices, marketplaces, or virtual terminal
  • Ability to offer a variety of payment methods: global cards, e-wallets, or bank payment
  • Best-of-breed fraud detection and chargeback management tools

"For the last three years of our business surveys, three-quarters of respondents say that they would rather have a single payments provider. In particular, e-commerce merchants state that they have special payment solutions needs and want to reduce the complexity of dealing with multiple vendors," said Raymond Pucci, Director of the Merchant Services practice at Mercator. "Additionally, in direct interviews we have conducted, businesses of all sizes across vertical markets express their preference for a single vendor platform."

The survey data referenced are from Mercator Advisory Group's third annual 2018 Small Business Payments and Banking Survey. This was a web-based survey of 2,047 U.S. small businesses regarding their use of payments and banking services.

About Mercator Advisory Group
Mercator Advisory Group is the leading independent research and advisory services firm exclusively focused on the payments and banking industries. We deliver pragmatic and timely research and advice designed to help our clients uncover the most lucrative opportunities to maximize revenue growth and contain costs. Our clients range from the world's largest payment issuers, acquirers, processors, merchants and associations to leading technology providers and investors. Mercator Advisory Group is also the publisher of the online payments and banking news and information portal PaymentsJournal.com.

For more information and media inquiries, please call Mercator Advisory Group's main line: 1-781-419-1700; send email to info(at)mercatoradvisorygroup.com.

For free industry news, opinions, research, company information, and more, visit us at http://www.PaymentsJournal.com. Follow us on Twitter @ http://twitter.com/MercatorAdvisor.

About BlueSnap
BlueSnap provides an All-in-one Payment Platform designed to increase sales and reduce costs for B2B and B2C businesses. Our Platform supports online and mobile sales, marketplaces, subscriptions, invoice payments and manual orders through a virtual terminal. With a single-integration to our Platform you can accept any payment with ease. The Platform includes access to 100 payment

 

SOURCE Mercator Advisory Group

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