The bank refused to connect acquiring. Why?
Equipping stores and online stores with acquiring service allows you to greatly expand the number of customers and increase turnover by simplifying the payment procedure. Anticipating an increase in profit, the owner of the store applies for acquiring services and… receives a refusal from the bank. Why does this happen and how can the situation be remedied?
How does acquiring work and why can you receive a refusal to connect?
Technologically, Internet-acquiring involves several subjects:
– The buyer, the holder of the card with which the payment is made;
– The seller, the owner of the account to which the payment is received;
– The issuing bank that issued the buyer’s card;
– The acquiring bank that accepts the buyer’s payment and transfers the money to the seller’s account;
– The payment system provides the technology to transfer the money.
Simply put, the transfer of money from the buyer’s card to the seller’s account involves three other parties. Moreover, each of these parties has its requirements for the process. Refusal to activate acquiring means that any of these requirements are not met.
General requirements for commercial organizations
General requirements for stores are divided into universal and individual requirements. The former is valid for all, while the latter is set by each party to the process.
Universal requirements are defined by Russian legislation in force. Of course, banks have to comply with them. For example, since the sale of alcoholic beverages through the Internet is prohibited in the country, the bank will not connect acquiring to the site of the wine and spirits store.
In the Decree of the Government of the Russian Federation from 31.12.2020 № 2463. “Sale of goods by remote method” you can find a complete list of goods prohibited for sale through online stores.
The individual ones include requirements established by payment systems.
The main one is the transparency of payments, the purpose of which is to control the prevention of illegal trade or sale of prohibited goods. If the acquiring bank violates the requirements, it will be disconnected from the payment system.
Internet acquiring cannot be used to sell such products as:
Alcohol and tobacco (legal requirements); counterfeit goods; products that violate copyrights; prescription drugs (payment system rules).
Requirements of banks
Before connecting a store to acquiring, the bank checks that the outlet meets all the requirements. A bank will not cooperate with a store or other commercial business that violates the law. Each bank has its list of requirements.
For example, banks assess a business’s rating for compliance with the requirements of Federal Law 115-FZ. In addition, to make sure that the business is real, banks require photos of retail outlets connected to acquiring.
These and other, requirements of banks should not be perceived as a search for reasons to refuse. If a bank accepts an improperly serviced business, the bank itself will be the first to suffer. Penalties can be very severe, up to and including revocation of the license. This is why banks are so picky about new clients.
How can I connect acquiring without the risk of rejection?
Explicit contradictions with the law, of course, will be the main reason for refusal. However, a legal and law-abiding business may also be refused by the bank for acquiring. Why?
– Errors in filling out the documents are one of the most common reasons for refusal. Even typos and misspellings will attract attention and raise suspicion. Not to mention deliberate mistakes and inaccurate data. Be careful when filling out application forms.
– OKVED codes – it often happens that one code has been chosen for registration, but the company is operating under another code. If this is your case, change the OKVED before submitting your application. The wrong code will be the reason for refusal.
– Photos of the outlet – The bank’s security service does not care about the design of the store sign or the aesthetic appearance of the interior. The main thing is that it must be a real retail facility. Therefore, attach only real photos.
Of course, you can connect acquiring not only in the bank. In most cases, the procedure will be easier, and always faster, if you turn to a reliable provider.