BlueSnap, an All-in-One Payment Platform, and Kount, the leading AI-driven fraud prevention provider, will showcase their solution for excellence in cross-border ecommerce at NRF 2020 Vision: Retail’s Big Show, held January 11-14, at the Javits Center in New York City. BlueSnap and Kount provide merchants with an all-in-one platform for processing international payments and minimizing losses to fraud. Both vendors will be available at Booth #1507.
A study commissioned by BlueSnap and Kount found that worldwide online sales grew from $2 trillion in 2016 to $3.46 trillion in 2019. Although more than half of online shoppers have already purchased goods from foreign websites, less than half of North American retailers sell internationally. Merchants cite fraud and currency and payment processing as the top reasons why they don’t sell internationally.
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BlueSnap and Kount partnered to help merchants overcome these barriers to growth. BlueSnap processes payments in more than 100 currencies via 110 payment methods. In addition, 85% of BlueSnap merchants have international customers and 78% of them are processing payments locally. By enabling them to do so, BlueSnap can increase their conversion rates by up to 6% and save an average of 1% on foreign transaction fees.
Kount’s digital fraud prevention solution protects 6,500 leading global businesses with advanced artificial intelligence. Kount’s AI combines supervised and unsupervised machine learning with a robust data network built over 13+ years, 250+ countries and territories, and 17B+ devices. Kount’s solution is included for those customers who partner with BlueSnap. Businesses achieve outcomes including less fraud, fewer false positives, increased sales, and fewer manual reviews. In 2019, Kount reduced BlueSnap merchants’ already-low fraud ratios by 50% and false positives by 40%.
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“2020 is the year when retailers should capitalize on international commerce opportunities and expand their digital innovation into new growth channels,” said Brad Wiskirchen, CEO, Kount. “Kount and BlueSnap are positioned to manage fraud and payment processing concerns so businesses can fulfill their growth goals.”
“The opportunity in cross-border ecommerce is largely untapped,” said Ralph Dangelmaier, CEO of BlueSnap. “NRF attendees are probably used to hearing that international ecommerce is too expensive, risky, or complicated. That’s no longer the case. BlueSnap and Kount are going to NRF Vision 2020 to show how we’ve solved those problems. We can help you break into global ecommerce.”
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