Dangelmaier: Local payment acquiring produces higher card authorization rates than cross-border routing
Ralph Dangelmaier · 967 With $1b+ In Transaction Volume, He Helps Merchants Get Power of Amazon Checkout · Mar 18, 2018 · at 3:45
BlueSnap CEO Ralph Dangelmaier explains the operational mechanics of payment processing authorization to Nathan Latka.
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“If you can keep the card transactions as local as you can, and this is a little loan seeker that people don't know about payments acquiring, you're going to have a higher chance of getting your card accepted. So for example, if I'm a shopper in Germany and I send my transaction into California to get approved, there's a lower chance that that transaction is going to go through than if I process that transaction in Germany.”
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More from Ralph Dangelmaier
Dangelmaier: BlueSnap achieves higher global transaction approval rates than Stripe
“Where we differ from Stripe is we're much more global, so we actually have many banks around the world so we can actually help transactions get through at a higher rate than Stripe does.”
Stripe requires separate country integrations while BlueSnap uses one, claims Dangelmaier
“Well, Stripe is, is it's similar to what Stripe does because Stripe does that in a single country. What we've done is we've been able to globalize it through many countries through one integration. So with Stripe, you have to go do it say seven times against s…”
Amazon employs hundreds of people globally just on one-click checkout
“Amazon's got hundreds of people that are focusing on one-click checkouts globally, and that's the checkout part.”
Dangelmaier: Amazon lacks patents on one-click checkout with major credit cards
“Well, how we're different is the Prime and the one click, they have patents on that, but they don't have the patent on how to one click checkout with things like Visa, MasterCard, or using American Express.”
Dangelmaier: BlueSnap processes billions with triple-digit YoY volume growth
“We're already in the B range, and we'll be processing multiple times that we're growing a triple digit growth right now.”
Payment processors keep only pennies of a standard $3 fee, says Dangelmaier
“So if there's a hundred dollars that goes to the system, in a simple example the merchant might pay three dollars. That three dollars, you know, 99% of it is going to the issuing banks, to the banks, into the card schemes. We get a tiny, tiny percent of that, …”