- Sana Commerce launches Sana Pay with global financial technology platform, Adyen as Technology Partner
- Sana Pay creates a smooth B2B checkout experience for webstores, leading to 34% less abandoned carts.
NEW YORK, Aug. 23, 2022 (GLOBE NEWSWIRE) -- 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.”
Sources
1Source: Global e-commerce payment methods 2020, by share of transaction volume, April 22 2022
by D. Tighe.
2Source: Sana Commerce study of Sana Pay trial with 22 B2B portals: Sana Pay vs PayPal.
About Sana Commerce
Sana 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 Adyen
Adyen 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 Adams
carolyn@bluerunpr.com
847-867-3005
