Sana Pay turns B2B e-commerce payments from headache to opportunity
August 23 2022 - 8:01AM
Sana Commerce is taking the pain out of e-commerce payments with
their new payment system, Sana Pay. Sana Pay is a built-in solution
to Sana Commerce Cloud. This natively integrated payment solution
cuts out the middleman by combining the B2B portal and the payment
method.
Driven by B2C e-commerce, buyers expect a smooth checkout
experience. However, today many B2B buyers are met with extra steps
in the process such as having to wait for payment details by email.
In fact, 77% of B2B portals only allow bank transfers to pay for
orders – compared to 7.7% of B2C webstores1. This experience
dramatically contrasts with buyers’ expectations. According to the
latest edition of the B2B Buyer Report, nearly 75% of B2B
transactions take place online. While some of these transactions
take place through channels like marketplaces and emails, web
stores outstrip both channels in most industries.
Michiel Schipperus, CEO Sana Commerce says, “B2B buyers are
starting to expect a payment experience that resembles how they pay
for items in webstores focused on consumers: fast, smooth and
digital.” Schipperus continues, “Buyers want their payment details
to be saved. They don’t want to be redirected to another webpage
during checkout. They want to pay in the way that suits them best,
expecting several payment options. With Adyen as technology partner
for Sana Pay, we can help manufacturers, distributors and
wholesalers not only meet these expectations, but exceed them. A
smooth checkout experience helps B2B portal owners to continue to
build relationships with their buyers.”
B2B Payment systems can be a headache
Most manufacturers, wholesalers or distributors depend on
checks, or bank transfers. For those B2B portals that do allow
their buyers to pay online, most offer just one or two payment
methods. While B2B e-commerce serves a similar purpose to B2C
e-commerce, there are added complexities. With every payment option
comes a new payment partner, whose margins lead to unpredictable
costs and create potential failure points along the payment
journey. In addition, many businesses buy on accounts and pay
later, on a monthly or annual basis. B2B businesses also may have a
standing account with specific discounts and regular re-orders
specific to their organization.
From Pain to Opportunity
Sana Commerce has launched more than 1500 B2B e-commerce portals
and is using its knowledge and B2B experience to turn pain into
opportunity. Sana Pay is natively integrated to Sana Commerce Cloud
and uses Adyen as a technology partner. It cuts out unnecessary
partners like processors and gateways and provides a single
platform for managing the entire payment journey. Some of the key
features of Sana Pay include:
- Because of ERP integration, Sana Pay can automatically trigger
payment updates and removes the need for re-keying critical order
information across siloed systems.
- Payment preferences including credit card details are saved,
leading to 34% less abandoned carts.2
- There are no redirects: buyers stay within the Sana Pay
application to process payment.
- All payment methods are possible within the application built
by Sana Commerce, including country-specific methods.
In a small-scale Sana Pay trial, businesses saw a 37% improved
online ordering performance when using Sana Pay.
“We are thrilled to be partnering with Sana Commerce on their
launch of Sana Pay,” said Roelant Prins, CCO at Adyen. “Offering a
simple payment experience is critical in today’s B2B space and it
can be a huge opportunity for businesses looking to reduce friction
for customers. With so many payment methods in so many countries,
having one platform that can manage them all is key.”
Sources1Source: Global e-commerce payment methods 2020, by share
of transaction volume, April 22 2022by D. Tighe.2Source: Sana
Commerce study of Sana Pay trial with 22 B2B portals: Sana Pay vs
PayPal.
About Sana CommerceSana Commerce is an
e-commerce platform designed to help manufacturers, distributors
and wholesalers succeed by fostering lasting relationships with
customers who depend on them. Sana achieves this by integrating SAP
or Microsoft Dynamics ERP and e-commerce into one platform. This
eliminates the system silos, unnecessary complexities and
compromises caused by mainstream e-commerce solutions.
Sana Commerce is a certified SAP and Microsoft Gold partner,
backed by a strong global partner network and recognized by leading
industry experts.
About AdyenAdyen is the financial technology
platform of choice for leading companies. By providing end-to-end
payments capabilities, data-driven insights, and financial products
in a single global solution, Adyen helps businesses achieve their
ambitions faster. With offices around the world, Adyen works with
the likes of Facebook, Uber, H&M, eBay, and Microsoft. Adyen
continuously improves and expands its product offering as part of
its ordinary course of business. New products and features are
announced via press releases and product updates on the company’s
website.
Media Contact:
Carolyn Adamscarolyn@bluerunpr.com847-867-3005
Adyen NV (EU:ADYEN)
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