SPOTLIGHT | In this edition of the About-Payments Spotlight we give the stage to one of the leading Payment Service Providers in the Netherlands: Buckaroo. Founded in 2005, Buckaroo is celebrated its 10 years anniversary in 2015 and has been awarded the 'Best Payment Service Provider in the Netherlands' for a second year in a row.
Buckaroo services over 4.500 web shops and organisations in close cooperation with 200 (web) partners. Buckaroo offers a wide range of modular solutions which can fully automate the entire payment and collection process and all associated administration activities.
1. How would you describe your business to merchants new-to-game?Buckaroo is one of the fastest growing Payment Service Providers in the Netherlands and has over ten years’ experience in the e-commerce industry. Buckaroo offers a full-service online cash register, facilitating a broad range of national and international online payment methods.
Over 4,500 companies are currently using Buckaroo’s payment solutions. For instance, Buckaroo's extensive clientele consists of companies such as KPN, Staatsloterij, Pathé Theaters, VVD, WoningNet and KNVB. Buckaroo simplifies payments for your customers to pay their invoices. Payment convenience lowers the threshold for your customers to pay outstanding items. Therefore, you can drastically reduce outstanding accounts in number and duration.
2. What makes you different from other Payment Service Providers?We are a full service billing and payment provider. As per January 2012, Buckaroo is part of the Intrum Justitia Group. With over 3,500 employees in 20 countries, Intrum Justitia is currently the largest Credit Management services provider in Europe. Intrum Justitia and Buckaroo bring the best of two worlds: a strong know-how in payment collection at Intrum Justitia and years of (online) billing & payments experience at Buckaroo.
The integration of both companies’ expert knowledge is demonstrated in a fully automated process, from order to reconciliation, connected to the Buckaroo system. So where other payment providers only focus on online payments, we also have a very strong proposition in offline payments, credit management and debt collection.
3. What are the triggers for online merchants to switch to your platform?Buckaroo has been awarded the title of Best Payment Provider in 2014 and 2015 by Emerce. We have Mobile Optimized Payment Pages as well as dynamic payment pages, both accessible in the look and feel of our merchants. Besides that we have Multi-Acquirer and Multi-plugin Connections.
To offer extra security in (online) payments, we have developed the unique Anti-Fraud Configurator. With the Anti-Fraud Configurator you can, at your own discretion, manage and configure automatic checks for credit card fraud. The quick response and the personal contact with our merchants is an extra reason to choose for Buckaroo.
4. What merchants or markets are you targeting?Our (online) payment system is ready to support any type of web shop in Europe with local payment methods in different countries. Our credit management module can be used by any organization that would like to reduce the costs per invoice and the duration of outstanding payments. From small businesses to large corporations who send out more than 10.000 invoices each month, both in B2C and B2B.
5. How can merchants integrate with your platform?Buckaroo supports API’s, direct and hosted payment pages and we offer all the common shopping cart plugins like Magento, WooCommerce and PrestaShop. More plugins can be found here. By using our plugins you will have a very short implementation time (a few hours) and extra additional benefits. For more complex implementations, we have a team of implementation managers to facilitate merchants with tailor made support.
6. What can merchants expect from your company in the nearby future?It is our ambition to improve the conversion rate on your web shop from visitors to paying customers. We will offer more (international) payment methods and other features to simplify the checkout process. One example is an Omnichannel solution that creates a better shopping experience in which customers can pay anytime, anywhere. We are also optimizing our reporting and management tool for merchants to have optimal insights in their payment flow. Buckaroo supports several options for point-of-sale (POS) payments at a payment terminal.
7. What are the important trends in online payments from your point of view?Companies are trying to attract consumers to their websites in many different ways and at the same time achieve a higher conversion rate in the payment process. That’s why we see a shift in payment methods. More often people will have the choice to pay later or pay easier via Omnichannel, mobile payment methods and e-wallets with smart checkout pages. That’s why our mission is ‘simplifying payments’.
8. What is your best advice to merchants starting to accept payments online?Choose a payment provider that’s able to serve you from the start and is available to support your growth in the future. Look for the partner that has the best fit with your entrepreneurial ambitions and gives you the best feeling for the markets that you want to cover.
9. Cards and Alternative Payment Methods: Competitors or Best Friends?iDEAL and ‘pay afterwards’ methods are very popular in the Netherlands. In a lot of other countries credit cards are more popular. This might change when e-wallets become more popular in the Netherlands because at the start they will only support credit cards. We support as many payment methods as possible that favor consumers, now and in the future. That’s why we have already implemented MasterPass, the first e-wallet.
About The CompanyBuckaroo is one of the fastest growing Payment Service Providers (PSPs) in the Netherlands and has over ten years’ experience in the e-commerce industry. Buckaroo offers a full-service online cash register, facilitating a broad range of national and international online payment methods. At this moment, Buckaroo has 55 employees and over 4,500 companies are using Buckaroo’s payment solutions. For instance, Buckaroo's extensive clientele consists of e.g. KPN, Ziggo, Pathé Theaters, VVD, WoningNet and ECI. Check out our reference overview here.
TestimonialsAt Buckaroo we see a high value in our customers being satisfied with our products and services. Therefore, we are happy to receive testimonials in which our customers indicate why they are satisfied, which products they use from us and how Buckaroo adds value. You will find the testimonials here.
Important Milestones in the Companies' history
- 2005: Start of Buckaroo, 34 merchants at the end of the year, start of iDEAL
- 2006: Refunds possible on iDEAL payments, PayPerEmail added
- 2007: Recurrent Billing added, PCI level 1 certified
- 2008: German payment methods + credit management module added
- 2009: PayPal and the anti fraud configurator added
- 2010: Became business partner from Thuiswinkel.org iDEAL, Currence
- 2011: Start of charity project, became member of VBIN
- 2012: Became part of the Intrum Justitia Group.
- 2014: Added AfterPay. Became number 1 payment provider in the Netherlands
- 2015: Became number 1 payment provider in the Netherlands for the second time, Added MasterPass. Celebrating 10 years of Buckaroo!