To whom and why do you need an Internet acquiring
The term "acquiring" comes from the English verb to Acquire – "acquire, receive". In the language of finance, it is so called the opportunity to accept payments from bank cards.
According to ours, the Card payments of the Central Bank of Russia are increasing, for each resident of the country now there are almost two payment cards. And the number of electronic operations in retail trade has reached 56%. In fact, with the acquiring we face every step: from buying bread to pay for air tickets.
What is online acquiring
For classic trading acquiring, payment terminal (POS) is required, which reads information from a magnetic tape on a plastic card. Mobile acquiring, or receiving payments with a smartphone, is carried out through a mini terminal (MPOS).
Internet acquiring is an opportunity to receive payment right in the online store, without any additional equipment. All that is needed is a stable network connection and payment interface. Buyer should not go anywhere. And even to have a card with you, it is not necessary: it is enough to know its details.
But for convenience you have to pay. Commission for Internet calculations can be 2-3 times higher than when paying through terminals. Complete tariffs are due to the need to support the web interface around the clock and ensure the safety of online payments.
What are the advantages of Internet acquiring
The seller and the buyer are interested in online calculations.
Pros for buyer
- You can make purchases at any time of the day and night, without departing from the computer.
- The whole process occurs in several clicks and takes a few minutes.
- The risk is excluded that the cashier will not be putting it or you do.
Pros for the seller
- Increases sales volume – including at the expense of round-the-clock service and spontaneous shopping. Nearly 40% of Money Clients online stores spend the State of Impulse Buying Persona – Statistics and Trends impulsively.
- There is no need to pay for collector services.
- The risk is excluded that fake bills will be quenched.
How does Internet acquire work
In the process, several sides are involved:
- Map holder (buyer).
- Online store.
- International Payment Systems (Visa, Mastercard, American Express).
- Emitted Bank, who released a plastic client card.
- BANK-EQUAIR, in which the settlement account of the seller is open.
- Processing Center – Bank Card Transaction Processing System. Essentially an intermediary between other participants.
If you do not delve into technical subtleties, the procedure looks like this:
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- Deciding with purchases, the online store client chooses the payment option.
- Forwarding on a secure page, where the buyer introduces payment details.
- The bank-issuer checks whether the card is active, is there enough funds in the account whether the operation is allowed in this country and much more.
- If the check has passed successfully, the online store issues an order. And the buyer receives a notice that the goods are paid.
- The bank-issuer blocks (but not yet writes off) the required amount on the client’s account.
- The Equiler Bank accepts the transaction information and generates clearing files – special electronic documents for non-cash calculations.
- Only after receiving the clearing files, the bank-issuer lists the funds to the ECuquance Bank, and the one, in turn, translates them to the seller’s account.
Although mutual settlers between banks can take several days, everything happens to the buyer in seconds.
How to connect an Internet acquiring
In the our Federation for online settlement services provided by the commercial banks and payment services, which are designed as non-bank credit organizations (NGOs), and bear the same responsibility to the client, and that the banks.
1. Connecting through a bank
To conduct online card payments, the bank must have a special license and a processing center (or a third party). Acquiring banks deal directly with customers, and therefore the tariffs for the services will be slightly lower. But as a rule, solid financial structure often refused to cooperate small clients: they value their reputation, prefer large organizations and try not to get involved with an online business, the legality of which has the slightest doubt.
2. Connecting through the payment service
Paying service, or aggregator, working with several banks and e-wallets at the same time. Typically, rates for such providers just above. But they are more loyal to the small business, provides flexible, round the clock technical support and a wide variety of payment systems.
What you need to consider when choosing a service provider
No matter with whom you prefer to deal with – the bank or aggregator. The criteria for the choice of a particular supplier would be the same.
1. The size of the transactions committee
For every translation service provider charges a fee that depends on the turnover and scope of the online store, payment method, participation in partner programs and many other factors. The price will be lower if the bank has its own processing center, and he does not need to buy this service from a third party company.
Before connecting acquiring find out how much and what you will take with. But in any case, low cost should not be the main criterion for selection.
2. The speed and ease of connection
Which documents need to collect? How many more will have to issue securities? In what time frame is considered application? And when it comes to the bank, if necessary to open it in the bank account? As a rule, payment services require less papers and are ready to connect to the service in a shorter period.
3. Availability of ready-made technical solutions
Agree about the service is one. And so that she earned, you need to integrate payment on the site. Well, if the provider offers a ready-made solution. Otherwise, you will have to hire a developer and carry additional costs.
4. Number of payment methods
The more payment systems support the provider, the better. Banks are often limited to card calculations, leaving electronic money overboard (Yandex.Money, Webmoney, QIWI) or mobile payments (Google Pay, Samsung Pay, Apple Pay). If you are working closely with foreigners, it is important that your service provider accepts cards of foreign banks.
5. The term of enrollment of funds for a settlement account
Since the purchase before the receipt of money, the seller may pass 3, 4 and even 5 days. It is better to find out this moment in advance. The faster the funds become available, the better. Banks in this matter are often ahead of the aggregators by crediting money during the day.
6. Quality of technical support
For online stores it is critical to help you can get promptly and at any time of the day. Therefore, access to specialists 24/7 is an important criterion when choosing a provider. Test in advance how sensitively reacts technical support for calls and appeals.
7. Fraud fight
Make sure your future provider supports all these card payments from fraud:
- PCI DSS (Payment Card Industry Data Security Standard) – Standard adopted by international VISA, MasterCard payment systems, American Express, Discovery, JSB. An organization that is engaged in Internet acquiring services must have a certificate for compliance with PCI DSS.
- SSL (Secure Sockets Layer) – encryption protocol that provides secure data transmission on the Internet.
- 3D Secure – Card Payments Protocol developed by Visa System.
Each service provider may have its own additional anti-food systems (from English Anti-Fraud – "Fraud Fraud"). These services automatically check each transaction and follow, whether there is no suspicious in the payment.
eight. Availability of additional features and services
They can greatly relieve life and seller, and the buyer. Useful if the provider provides additional features: