If you’re operating an Australian eCommerce business, here’s some exciting news: BlueSnap now has local payment processing in Australia! Of course, we’ve always processed Australia payments, but local payment processing is an added boon for your business. By taking advantage of our new Australian bank connection, you can lower your transaction costs and increase your conversions, all as part of our global All-in-One Payment Platform. One global processor, one payout, and lots more revenue—you can’t beat that.
BlueSnap now has local payment processing in Australia! Click To Tweet
How does local payment processing in Australia benefit you?
In payment processing, what happens behind the scenes has a big impact on your transaction costs and your conversion rates.
- Conversion rate—It’s a fact: Transactions identified as “foreign” are more likely to be flagged for fraud due to mismatched currency; as a result, they are more likely to be declined. If your gateway’s single bank partner is not located in Australia, chances are those Australian transactions will be tagged as foreign, giving them a greater chance of failure.BlueSnap passes all transactions that originate in Australia through our Australian bank connection, upping their chances of success. In fact, our customers have seen up to 17% improvement in transaction success rates due to our global network of banks.
- Transaction costs—Credit card issuers charge a foreign transaction (FX) fee whenever a customer makes a purchase that passes through a foreign bank. Many payment gateways have only a single bank connection in one geographic location through which they route all transactions—for instance, one connection to a bank in the U.S. that is responsible for processing both domestic and foreign transactions. So if an Australian customer buys from a U.S. merchant, the gateway’s U.S. bank partner recognizes the transaction as foreign, and (if the transaction is approved), applies an FX fee.With BlueSnap’s global bank connections, FX fees are greatly reduced. BlueSnap has 30 bank partners in all parts of the world—now including Australia. So when an Australian customer buys from your store, we’ll automatically route the transaction to our Australian bank for processing. (The same is true for transactions that originate elsewhere.) There are no costly FX fees for you to pay as a result.
Want more strategies that can help you take advantage of cross-border eCommerce opportunities? Download our free ebook on ways to optimize global payments.
Other Ways BlueSnap Can Help Your Business Make The Most Of Australian eCommerce
Higher conversion rates and lower transaction fees for Australian payments are sweet, but there’s more! Aussies are big cross-border buyers (about 70 percent of the country’s online shoppers make purchases from abroad), so to help you capture those sales effectively our payment gateway also supports:
- Australia’s most dominant payment methods, which include credit cards, bank transfers, and eWallets (mobile wallet transactions, in particular, skyrocketed at the end of 2017, and one in every five online purchases is made from a mobile device!). People are more likely to buy if they see their favorite payment method, so all of these options are must-haves in Australia. Whether you’re a B2B company (where bank transfers dominate) or B2C (where credit cards and mobile wallets dominate), our payment platform has the functionality to support the payment types you need.
- Australia’s local currency, the Australian dollar (AUD). Twenty-three percent of shoppers will abandon a sale if the total cost is unclear immediately, so asking your customers to do currency conversion calculations will likely drive them away. Our platform has the ability to automatically adjust purchase prices to the correct currency based on a shopper’s IP, so you’ll never lose a payment over currency confusion again.
Simplifying Australian eCommerce
If you’re a B2B or B2C company conducting business in the region, there’s simply no better way to convert a greater number of Australian payments at a lower cost than with a local BlueSnap bank connection. And if you sign up now you can get in on another great deal for new customers only: a free month of payment processing when you process $50k or more in the first month. We can’t wait to hear from you!