The enhanced AR automation solution will help businesses get paid faster, add additional payment methods and improve buyer experience
BlueSnap, the global payment orchestration platform of choice for leading B2B and B2C businesses, has enhanced their accounts receivable (AR) automation solution with surcharging and additional payment methods to support the growing needs of B2B businesses.
Suppliers and vendors that use AR automation for their B2B businesses see significant improvements in operation by streamlining various aspects of the payment process. AR automation leads to quicker responses and ensures both parties have a clear understanding of invoice and payment statuses.
The surcharge functionality adds a fee to cover the cost of the transaction for businesses and transfer the costs to their customers. The new functionality also adds the ability for businesses to apply a surcharge fee to automated clearing house (ACH) and Bulk Electronic Clearing System (BECS) payments. BlueSnap’s technology has also implemented validation to prohibit surcharge fees where they are not compliant.
By passing payment processing fees to customers, businesses can reduce expenses while allowing customers to choose their preferred payment type, including credit cards, which businesses might otherwise not be able to accept because of the associated fees. For all businesses, especially those with smaller margins, any cost reduction is a big help.
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Henry Helgeson, CEO at BlueSnap, says: “We at BlueSnap are always looking for ways to innovate and improve the AR experience for B2B businesses. These new enhancements to our AR automation solution remove any barriers B2B businesses once had around the costs associated with letting their customers use their preferred payment methods or the complexity of implementation, while improving the overall buyer experience.”
BlueSnap is also adding additional payment methods to expand support for global shoppers, with support for SEPA, BECS Direct Debit, and EFT Direct Debit to the Payment Link. The additional payment methods and support allow businesses to offer their customers more ways to pay, speeding up the collections process and making it effortless, no matter how customers want to settle their invoices. For businesses, this means being paid quicker, and for customers, it gives them more options and flexibility in how they can pay B2B invoices.
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