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    2013-03-05
    Firm makes it a Snap to pay around the world

    By Marie Szaniszlo, Boston Herald

    Truly global commerce where merchants can take payment in almost any major currency is getting a boost from an Israeli firm that just opened offices in Waltham.

    BlueSnap powers transactions in 145 countries and 28 currencies, said Ralph Dangelmaier, who took over as CEO six months ago.

    “We’re pretty confident when merchants use us, we increase their business 20 to 40 percent,” Dangelmaier said. “It’s because we offer lots of payment types, so it’s easy to pay, and in their own language.”

    BlueSnap, whose main competitor is eBay-owned PayPal, also allows merchants to run promotions and it offers subscription billing on a monthly, quarterly or annual basis, he said. They pay between 
2 percent and 8 percent of each transaction, depending on what they’re selling, the type of payment and where it’s coming from.

    Founded in Israel in 2002 under the name Plimus, BlueSnap has had offices in Silicon Valley since 2006, and it’s expanding in all three locations, Dangelmaier said.

    In 2011, Great Hill Partners of Boston bought controlling interest of the company for $115 million.

    “It seemed like a pretty decent bet that more businesses were going to be selling software content and subscription services online over the next five to 10 years,” said Matt Vettel, managing partner at Great Hill Partners.

    Today, BlueSnap has about 120 employees and about 5,000 clients worldwide, most of them outside the United States, Dangelmaier said. PayPal is one of its competitors, but doesn’t customize screens for merchants, allow promotions or subscriptions, or accept as many payment types, he said.

    “We think we’ve built a better mousetrap,” Dangelmaier said.