How do you pick your acquiring?

Acquiring is the process of accepting payments from customers using electronic payment systems. It enables entrepreneurs to accept payments using bank cards, mobile payment applications and other means of payment.

In this article, we will look at how this system works and provide guidance on how to choose the right bank.

How does acquiring work?

When a customer selects goods or services and prepares to make a purchase, he can choose to pay by card or mobile application. To do this, he needs to enter his card information: card number, expiration date and CVV code.

This information is transmitted to the provider, who verifies it and confirms the payment. If everything is successful, the funds from the client's card are transferred to the organization's account.

It is important to note that all this happens in real time and provides quick payment confirmation and convenience for customers.

Types of acquiring

There are several types of acquiring, and each has its own characteristics.

Let's take a look at some of them:

• Mobile acquiring

The method of accepting payments, with the help of mobile devices, through special mobile terminals . Which is especially convenient for entrepreneurs who are engaged in trading on different platforms. The following services can be cited as examples: Kaspi Pay, ApplePay and HalykPay

• Internet acquiring

Allows you to accept payments through websites or online stores. Which is very useful for entrepreneurs doing business in the online environment. We can emphasize 3 tools: Stripe, PayPal and Braintree.
Our team can help to implement the payment system to your website by providing technical support service..

• POS terminals

Devices installed in physical stores or service points that allow customers to make card payments. Widely used in retail and services.

Each type of acquiring has its own advantages and disadvantages, and the choice depends on the needs and characteristics of your business.

Pros and cons of acquiring

Benefits of acquiring:

1. Convenience for customers

Ability to make payments quickly and easily using their cards or mobile apps.

2. Expansion of the client base

Providing payment by electronic means attracts new customers who prefer this method of payment.

3. Increasing sales

Different variation of payment methods, which simplifies the sales process and encourages customers to make more purchases.

Disadvantages of acquiring:

1. Commission

Providers may charge fees for processing payments, which can affect your profitability. It is important to analyze the fee structure of different providers and choose the most favorable terms.

2. Possibility of technical failures

When using electronic systems, there is always a risk of technical problems, such as system failures or unavailability of the payment gateway.
To avoid these problems, it is necessary to choose a reliable provider, with good technical support to minimize the risks of such failures and solve problems in a timely manner.

3. Security risks

Potential threat of fraud and theft of customer data. When choosing a provider, pay special attention to its security measures and protection of customer data.

Analyze the provider's reviews and reputation in the area.

How to choose a bank for acquiring

There are several important factors to consider when choosing a bank for acquiring:

• commissions

Examine the structure of fees charged by the bank for the use of acquiring. Compare the fees charged by different banks and choose the most favorable terms for your business. Keep in mind that fees may vary depending on the volume of payments and the type of acquiring.

• Technical Support

Pay attention to the availability and quality of technical support offered by the bank. It is important to be able to quickly contact the bank's representatives and get help in case of problems with acquiring.

• Bank reputation

Analyze the bank's reputation in acquiring. Find out about its experience and reliability in payment processing. Look for testimonials from other entrepreneurs or referrals to get an idea of the bank's quality of service and reliability.

• Additional services

Find out what additional services and features the bank offers as part of acquiring.
For example, some banks provide analytical tools to track sales, opportunities to scale the business, etc.

Consider your needs and choose the bank that offers the most appropriate value-added services for your business.

• Integration with your system

Check how easily and efficiently you can integrate the bank's acquiring system with your current sales management or accounting system. Make sure that the integration will be smooth and will not cause unnecessary complications.

It is important to do your research and compare different banks and their acquiring offers to choose the best option for your business.

Conclusion

To summarize, we can say that acquiring is an important step for entrepreneurs seeking to develop their e-commerce business. And the choice of a reliable bank plays a key role in the successful implementation of acquiring and ensuring payment security.

If you want to integrate an acquiring system to your portal, our team can help with this problem thanks to the service https://sailet.pro/support