Oracle NetSuite Corporate Communications
AltaPay Payment Platform Enables Seamless, Omnichannel Payment Processing in any Currency via a Single Payment Solution
NETSUITE SUITECONNECT, LONDON—10 November 2014—NetSuite Inc. (NYSE: N), the industry's leading provider of cloud-based financials / ERP and omnichannel commerce software suites, today announced that AltaPay, a leading payment management company based in Denmark, has joined the NetSuite SuitePayments program to offer businesses payment options when using NetSuite’s SuiteCommerce platform. Partnering with NetSuite, AltaPay can allow retail and wholesale distribution organisations using SuiteCommerce to deliver seamless omnichannel payment processing in any currency – within a single payment solution, improve operational efficiency, and offer customers a rich, interactive and intuitive shopping experience.
Headquartered in Copenhagen, AltaPay aggregates a broad range of global, regional, and country-specific card and alternative payment methods into a single payment management solution for ecommerce merchants. AltaPay’s payment management solution is secure (PCI Level 1 certified) and flexible, and provides automated financial reporting at the individual transaction level.
Omnichannel commerce vendors need a solution which is designed to simplify the complexity traditionally found in the customer experience so that it is seamless across search and selection of product processes through payment, shipping and return workflows. The NetSuite/AltaPay partnership addresses these requirements, bringing these vendors and their customers the ability to easily manage multiple-party transactions, multi-currency exchange rates, and multiple payment types improving shopper conversion to sales. Vendors also can benefit from advanced fraud management functionality combined with deep order management and settlement capabilities which together, slash overhead costs and can create massive competitive advantage for joint NetSuite/AltaPay customers.
"We are delighted to partner with NetSuite and join the NetSuite SuitePayments program," said AltaPay CEO and Co-founder Christian Rasmussen. "Both of our companies are committed to making it easier for companies of all sizes to engage in global ecommerce and grow their businesses and customer bases."
One of the main barriers preventing merchants from entering new geographies is how to efficiently and cost-effectively adopt and manage a variety of local payment methods and seamlessly make those options available to customers. For instance, throughout Europe there are a number of different payment methods which can be quite confusing, including the use of global, international, and local credit and debit cards and digital wallets as well as payment via direct bank transfers, payment by invoice after goods are received, and payment by online credit, which is later paid off over a particular time period. Being able to offer customers the local payment methods they are familiar with is a key tool for businesses to ensure a reduction in online shopping cart abandonment rates.
"Our partnership with AltaPay enables businesses using SuiteCommerce to extend their reach to their customers via any channel and in any location,"said Craig Sullivan, Senior Vice President, Enterprise and International Products at NetSuite. "We chose to partner with AltaPay not just because of its proven agility, scalability, reliability, and secure use of modern technology to address a very broad geographic range of payment methods but also because of their innovative approach to reducing the administrative burden of managing the back-office aspects of payments processes. AltaPay complements the omnichannel capabilities of SuiteCommerce and we're delighted to bring this winning combination to our local and global customer base."
SuiteCommerce offers European merchants and their peers around the world an omnichannel commerce platform that supports unlimited expansion while delivering the critical business advantages, particularly the ability to manage multiple channels, multiple currencies, and multiple locations from a single platform. With SuiteCommerce, organisations gain a 360-degree view into customer relationships, real-time data visibility and analytics, real-time inventory management, a dynamic web storefront, efficient order management, and multi-language and multi-website management. The platform also fulfills a strong demand for a single commerce solution that supports multiple customer touchpoints—from in-store point-of-sale (POS) to call centres and social media to online via desktops, laptops, smartphones and tablets.
NetSuite made the announcement at SuiteConnect 2014, its largest user-oriented event to date in the United Kingdom http://www.netsuite.co.uk/suiteconnect-uk.
Today, more than 20,000 companies and subsidiaries depend on NetSuite to run complex, mission-critical business processes globally in the cloud. Since its inception in 1998, NetSuite has established itself as the leading provider of enterprise-class cloud financials/ERP suites for divisions of large enterprises and midsized organisations seeking to upgrade their antiquated client/server ERP systems. NetSuite excels at streamlining business operations as demonstrated in a recent Gartner study naming NetSuite as the fastest growing top 10 financial management systems vendor in the world. NetSuite continues its success in delivering the best cloud ERP/financials suites to businesses around the world, enabling them to lower IT costs significantly while increasing productivity, as the global adoption of the cloud is accelerating.
AltaPay is a global payment management company, headquartered in Copenhagen, Denmark. Founded in 2008, the company (formerly known as Pensio) provides ecommerce businesses with global payment processing solutions. AltaPay’s customers include Arvato Bertelsmann, boohoo.com, ECCO, Kate Spade, Live Gamer, and Toys"R"Us. For more information, please visit www.altapay.com.
For more information about NetSuite, please visit www.netsuite.co.uk.
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