One Hour Translation, which touts its expertise at translating documents from over 70 languages, is no expert at translating payments across different currencies. For that, it needed help from BlueSnap.
"The challenges in collecting money in different countries include supporting the multiple currencies and payment methods accepted in each and every country while minimizing chargebacks and exposure to currency exchange rates," says Lior Libman, chief operating officer of One Hour Translation. "BlueSnap allows us to collect multiple currencies in international and local payment methods while taking care of currency exchange rates."
One Hour Translation's clients purchase credits through BlueSnap's platform and use those credits toward the translation service. One Hour Translation accepts credit cards, PayPal, bank transfers and other payment methods.
"It's a 'one click' app, where you go into One Hour Translation by website or phone, and we store all of the information," says Ralph Dangelmaier, CEO of BlueSnap.
To use One Hour Translation, customers select the language desired for translation and upload a file. The company charges $0.07 per word, plus fees for proofreading and expert translation. It also has bulk rates for large documents. The company says its translators can handle about 200 words per hour. An estimate for a 1,000 word translation, including proofreading service, is $125.48 for a job that would take just less than five hours.
BlueSnap's services may open additional geographic markets for One Hour Translation, Dangelmaier says. "It provides a way for people in countries that don't have access to Visa, American Express or MasterCard to pay with their local currency in their local language."
Adding cross-currency payments to new marketsparticularly those where American payment options aren't widespread, can be a valuable addition for One Hour Translation, says Nancy Atkinson, a senior analyst at Aite Group.
"They would want to bill the customer that amount in [that customer's native currency] as well as know what they are billing [to ensure profit]," Atkinson says.
One Hour Translation and BlueSnap did not release uptake figures for the new BlueSnap payment service, though One Hour Translation's site names Pfizer, the U.S. Army, IBM and Cisco as general clients of the company. About half of the Fortune 500 companies have used One Hour Translation, says Libman.
One Hour Translation pays its translators via PayPal and the One Hour Translation MasterCardBlueSnap is not involved in those payments. Once One Hour Translation's client confirms satisfaction with the result, the translator's account is credited. When the account reaches at least $20, the translator can request payment.
Tipalti focuses primarily on payments to the freelancers that perform the translation, handling the tax documentation and currency management, though the company hopes to add consumer payments processing in the future, says Eran Karoly, Tipalti's chief operating officer.
For companies that collect payments from consumers while paying a large network of freelance staff, end to end payments options are elusive, Atkinson says.
"There are not a lot of excellent ACH solutions out there today for cross-border payments, which would be the way you would make these mass payments," she says.
