Key Data

• Trading Name: BlueSnap
• Legal Entity: BlueSnap Inc./BlueSnap Payment Services (Ireland) Ltd.
• Activities: Payment Processor
• Location: United States
• Regulations: supervised by the Central Bank of Ireland
• Key People: Daniel Kleinberg and Tomer Herzog

BlueSnap, Inc. is a payment processing company that provides global e-commerce solutions for businesses of all sizes across a variety of industries. Known for its Powered Buy Platform, BlueSnap offers localized payment services in more than 100 countries, supporting over 100 payment types across various currencies and languages. The company’s technology is designed to simplify the payment process by integrating with major e-commerce platforms, providing analytics, fraud prevention, and financial reconciliation.

Based in Waltham, MA, BlueSnap is backed by world-class private equity investors including Great Hill Partners and Parthenon Capital Partners.

Offering

BlueSnap, Inc. offers a robust payment processing solution, the Powered Buy Platform, designed to enhance global e-commerce operations. This platform supports over 100 payment types and facilitates transactions in more than 100 countries, handling complexities like currency conversions, tax compliance, and local payment regulations. It provides a seamless checkout experience that helps reduce cart abandonment and increase conversion rates. The platform includes detailed analytics for business insights, advanced fraud detection tools for security, and financial reconciliation services to manage cross-border fees and multiple currencies efficiently. Aimed at optimizing both operational efficiency and customer satisfaction, BlueSnap’s solutions cater to businesses looking to expand their international footprint while ensuring secure and efficient transactions.

Compliance Issues

BlueSnap, a payment processing company, along with its former CEO Ralph Dangelmaier and SVP Terry Monteith, has settled with the FTC for $10 million after being accused of knowingly processing payments for fraudulent companies. The FTC highlighted that BlueSnap processed significant amounts of fraudulent transactions for ACRO Services, ignoring multiple warnings and reports of fraudulent activities from credit card companies and their internal fraud team. Under the settlement, BlueSnap will compensate affected consumers and cease processing payments for certain high-risk clients, emphasizing the need for payment processors to adhere strictly to legal and ethical standards to protect consumers.

Customer Reviews

Trustpilot: 2,2 Stars with 100+ Reviews

Regulation

BlueSnap Payment Services Irelands Limited is a regulated provider of payment services in Ireland, supervised by the Central Bank of Ireland.

Conclusion and Rating

Following a comprehensive assessment of compliance issues and the prevalence of negative customer reviews, we have decided to downgrade BlueSnap to red in our rating.