How to choose an acquiring company?

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

When a customer selects goods or services and prepares to make a purchase, they can choose to pay with a card or mobile app. To do this, they need to enter information about their card: the card number, expiration date, and CVV code.

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

It's worth noting that all this happens in real-time, ensuring quick confirmation of the payment and convenience for customers.

How does acquiring work?

There are several types of acquiring, each with its unique characteristics.

Let's examine some of them:

• Mobile Acquiring

This method involves accepting payments using mobile devices through special mobile terminals. It's particularly convenient for entrepreneurs who trade on various platforms. Examples include services like Kaspi Pay, Apple Pay, and HalykPay.

• Internet Acquiring

Allows merchants to accept payments through websites or online stores. This is very beneficial for entrepreneurs conducting business in the online environment. Noteworthy examples include Stripe, PayPal, and Braintree. Our team can help integrate a payment system onto your website, offering technical support services.

• POS Terminals

These are devices installed in physical stores or service points, enabling customers to make payments with cards. They are widely used in retail and service industries.

Each type of acquiring has its pros and cons, and the choice depends on the needs and specifics of your business.

Types of acquiring

Advantages of Acquiring

Convenience for Customers
The ability to easily and quickly make payments using their cards or mobile applications.

Expansion of the Customer Base
Offering payment through electronic means attracts new customers who prefer this method of payment.

Increased Sales
Various payment options simplify the sales process and encourage customers to make more purchases.


Disadvantages of Acquiring

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

Potential 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 issues, it is essential to select a reliable provider with good technical support to minimize the risks of such breakdowns and promptly resolve any arising problems.

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 information.

Analyze reviews and the reputation of the provider in this area.

The pros and cons of acquiring

When selecting a bank for acquiring services, several crucial factors should be considered:

• Fees

Study the fee structure that the bank charges for using acquiring services. Compare the fees offered by different banks and choose the most advantageous conditions for your business. Note that fees may vary depending on the volume of transactions and the type of acquiring service.

• Technical Support

Pay attention to the availability and quality of technical support provided by the bank. It's important to have the ability to quickly contact bank representatives and receive assistance if any issues arise with the acquiring service.

• Bank Reputation

Analyze the bank's reputation in the field of acquiring. Learn about its experience and reliability in handling payments. Look for reviews from other entrepreneurs or seek recommendations to get an idea of the quality of service and the bank’s reliability.

• Additional Services

Find out what additional services and features the bank offers within its acquiring package. For example, some banks provide analytical tools for tracking sales, opportunities for scaling your business, etc. Consider your needs and choose a bank that offers the most suitable additional services for your business.

• Integration with Your System

Check how easily and effectively you can integrate the bank’s acquiring system with your current sales management or accounting system. Ensure that integration will be smooth and won’t cause unnecessary complications.

It’s essential to conduct thorough research and compare various banks and their acquiring offerings to select the best option for your business.

How to choose a bank for acquiring