Acquiring, accepting non-cash payments by bank plastic cards has become a common thing for businessmen and customers. For store owners and other commercial organizations, it is no longer a question of whether acquiring is necessary. Of course, they do! The only question may be the search for a provider of this useful service. In addition, here you do not need to look for a long time: to connect acquiring payment cards, you only need to submit an online application.
The advantages of acquiring and Internet acquiring for entrepreneurs are well known and obvious. Let us remind you of them:
– Increased number of customers with average and above-average incomes – statistics claim that these are the categories of consumers who pay more often and more willingly for large purchases with bank cards. It is also known that when paying by card it’s easier for a person to spend a larger amount than when buying with cash. Thus, the connection of Internet acquiring contributes to an increase in revenue online store;
– Minimization of risks associated with cash turnover – where a cashier or sales representative accepts cash, there is always a risk of error. Incorrect calculation of the total amount of purchases, counterfeit banknotes or other fraud, errors in giving the customer change, etc. Acquiring eliminates such mistakes. In addition, the business owner saves on costs associated with cash turnover: charges for collection services, the commission for depositing money in the bank, etc.
– Image benefits – a business that implements customer-friendly technologies become attractive to customers. This, of course, positively affects both the store’s image and its revenue.
Benefits of acquiring for banks
At first, glance, acquiring does not seem to be beneficial for banks. Non-cash flows deprive banks of income in the form of a commission for servicing cash turnover. However, banks do not lose from acquiring. These financial organizations receive their share of benefits, and quite significant ones:
– Significant growth in the number of clients;
– Expansion of the network of bank branches;
– Increase in own capital.
The benefits of acquiring for banks greatly exceed the apparent losses due to the lack of commissions.
Benefits of acquiring for consumers
Of course, acquiring services would have no meaning if they did not provide visible benefits to customers. Cardholders, consumers of stores, and other commercial organizations get the opportunity to make fast, convenient, and safe payments thanks to acquiring.
The vast majority of people receive their wages by card. With the card, we also pay for our purchases in offline and online stores, cafes, petrol stations, airplanes, and railway ticket offices – wherever we may need to pay for something! The modern person is less and less likely to have to cash out and therefore bear all the risks associated with going in cash.
Holders of credit cards or debit cards with overdrafts actively use the opportunity to buy goods on credit. Various bonus programs, cashback, partners’ discounts, etc. are also significant incentives for cashless purchases.
Of course, acquiring is useful and profitable for all the participants. This means that we will see an increase in demand for this service and the appearance of new acquiring types. You can connect acquiring right now and start using all its benefits today.