- Sana Commerce launches Sana Pay with global financial technology platform, Adyen as Technology Partner
- Sana Pay creates a seamless B2B shopping experience for online stores, leading to 34% fewer 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 an integrated solution for Sana Commerce Cloud. This integrated payment solution cuts out the middleman by combining the B2B portal and payment method.
Driven by B2C e-commerce, shoppers expect a seamless checkout experience. However, many B2B buyers today face additional steps in the process, such as 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 online stores1. This experience is in dramatic contrast to buyer expectations. According to the latest edition of the B2B Buyer Report, nearly 75% of B2B transactions are conducted online. While some of these transactions are conducted through channels such as marketplaces and email, online stores outperform both channels in most industries.
Michiel Schipperus, CEO of Sana Commerce says: “B2B buyers have come to expect a payment experience similar to how they pay for items in consumer-focused online stores: fast, seamless and digital.” Schipperus continues, “Buyers want their payment details to be saved. They don’t want to be redirected to another website while shopping. They want to pay in the way that suits them best, expecting several payment options. With Adyen as a technology partner for Sana Pay, we can help manufacturers, distributors and wholesalers not only meet these expectations, but exceed them. A seamless checkout experience helps B2B portal owners 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 allow their buyers to pay online, most only offer one or two payment methods. While B2B e-commerce serves a similar purpose to B2C e-commerce, there are added complexities. With each payment option comes a new payment partner whose margins lead to unpredictable costs and create potential points of failure in the payment journey. In addition, many businesses buy on account and pay later, on a monthly or annual basis. B2B businesses can also 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 B2B knowledge and experience to turn pain into opportunity. Sana Pay is natively integrated into the Sana Commerce Cloud and uses Adye 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:
- Due to ERP integration, Sana Pay can automatically trigger payment updates and removes the need to re-key critical order information into separate systems.
- Payment preferences including credit card details are saved, leading to 34% fewer abandoned carts.2
- No redirects: shoppers stay within the Sana Pay app to process the payment.
- All payment methods are possible within the application built by Sana Commerce, including country-specific methods.
In a small-scale trial of Sana Pay, businesses saw a 37% improvement in online order performance when using Sana Pay.
“We are thrilled to partner with Sana Commerce on their launch of Sana Pay,” said Roelant Prins, CCO at Adyen. “Providing a simple payment experience is critical in today’s B2B space and can be a huge opportunity for businesses looking to reduce friction for customers. With so many payment methods in so many countries, having a platform that can manage them all is essential.”
1Source: Global e-commerce payment methods 2020, by transaction volume share, 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 the customers who depend on them. Sana achieves this by integrating SAP or Microsoft Dynamics ERP and e-commerce into one platform. This eliminates system silos, unnecessary complexities and compromises caused by leading e-commerce solutions.
Sana Commerce is a certified SAP and Microsoft Gold partner, supported by a strong global partner network and recognized by leading industry experts.
Adyen is the financial technology platform of choice for leading companies. By providing end-to-end payment 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 Facebook, Uber, H&M, eBay and Microsoft. Adyen continuously improves and expands its product offering as part of the normal course of business. New products and features are announced through press releases and product updates on the company’s website.