If you’re operating an eCommerce business in Israel, we have some exciting news! BlueSnap now offers local acquiring in Israel in addition to more than 46 other countries. This means companies have access to a single payment solution that can support both global and domestic payments in more locations while increasing authorization rates, improving shopper conversions and reducing costs.
The Benefits of Local Acquiring in Israel
Local acquiring is when the seller’s acquiring bank and the shopper’s issuing bank are both in the same region or country. When the banks are in different regions, cross-border transactions are more likely to be declined because of the higher rates of fraud in cross-border transactions, and they often incur hefty fees that could be avoided. But when you are able to process payments as if they were local, leveraging quality banks and intelligent payment routing, your authorization rates increase and you can reduce interchange and foreign exchange fees.
Add local languages, payment types and methods, and you can expect an increase in shopper engagement and conversions. On average, our customers see a 12% lift in sales by presenting in local shopper currencies.
Israeli businesses face hurdles when it comes to global online payments. Most global payment processors do not offer local acquiring services within Israel because of the requirements and processes enforced by the local acquirers, and many Israeli processors focus solely on the Israeli market and do not work on optimization outside the country. This means Israeli merchants either need to have multiple payment processors and the associated technical upkeep and/or they have to pay unnecessary fees and may suffer from lower authorization rates.
BlueSnap is the only global payment providers to offer local acquiring in Israel. With a single connection to BlueSnap’s All-in-One Payment Platform, you get support for online payments around the world. With BlueSnap, if you have a local entity in Israel, you can begin enjoying the benefits of local acquiring and other built-in global payment essentials, like solutions for tax and compliance, reporting to simplify reconciliation, automated fraud and chargeback management and more.
BlueSnap and Israel: Local Acquiring and Local Support
In addition to local acquiring, Israeli merchants can benefit from BlueSnap’s local office, located in Herzliya, and our thorough understanding of the local landscape. Whether you’re an Israeli business looking to expand into other countries or a business hoping to begin selling in Israel, our local office offers a level of expertise and understanding that can benefit your business.
Many Israeli payment processors don’t have the same banking relationships outside Israel that BlueSnap has, and, as mentioned, many payment processors outside Israel don’t have the banking relationships and understanding of the market that BlueSnap does.
BlueSnap makes local acquiring in Israel easy and provides a level of support not available from other payment processors. When you partner with BlueSnap, you will have a hands-on partner that offers products and services to help you improve online sales in Israel and around the globe.