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What Kind of Acquiring do I Need?

Boaz Gam

Boaz Gam


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7 min

What kinds of acquiring exist and how to choose the right one for your business?

Article content
  1. What is Acquiring?
  2. Types of Acquiring
  3. Offline acquiring
  4. Mobile acquiring
  5. Internet acquiring
  6. How does Acquiring Work?
  7. Pros and Cons of Acquiring
  8. How to Choose an Acquiring Service Provider?
  9. What do you Need for Acquiring Integration into your Business?
  10. What do we Offer?

In 2021, bank cards have become the most popular means of payment in the world. It is getting harder to do business without acquiring, so in this article, we’re going to discuss how it works, who is involved in the process, and what needs to be done to get it up and running.

What is Acquiring?

Acquiring is a banking service that allows customers to pay for goods and services with debit and credit payment cards.

“According to international analytical companies, 54% of all transactions in 2020 were conducted in a non-cash form.”

Acquiring is available to any type of business willing to accept payment cards: organizations, individuals, entrepreneurs, and self-employed citizens. However, there are different types of acquirer services, and which one suits your business depends on where the transactions take place: at a point of sale, online, in an app, or all of the above.

Types of Acquiring

Depending on the target market and the needs of a company, users can choose one of three types of services offered by a merchant acquirer:

  • offline;
  • internet;
  • mobile.

ATM acquiring (or exchange acquiring) is also distinguished. It denotes payment through self-service devices such as ATMs. This is an independent type of acquiring that is not required for most businesses.

Offline acquiring

Offline (trade) acquiring implies POS terminal installation at the point of sale. A POS terminal is a hardware system for processing credit card payments at retail locations, with the help of which the required amount is debited from the client's card or, conversely, the funds are refunded.

Mobile acquiring

This service is ideal for merchants if their business involves active movement and they need to process credit card payments in different places (taxi, pizza delivery, or courier services). For mobile acquiring, compact mPOS terminals are used for card payments. They are easy to take with you. Such equipment can be easily controlled via mobile devices using an application. The payment principle, in this case, is the same as for trading POS credit card terminals.

“Mobile acquiring is the least secure method of accepting payments. In this regard, banks can limit the number of purchases via this type.”

Internet acquiring

This service of the bank provides a possibility to make payments for goods and services in online stores by credit card or e-money, using the systems of electronic payments. It is not necessary to purchase a real terminal.

Nowadays, online payments are totally secure. To minimize the risk of fraud for cardholders, the payment processing algorithm features a possibility of a simplified cancellation (Chargeback) implemented into the online payment procedure. In many cases, the cardholder can simply call their issuing bank and tell them that the goods have not been delivered or the service has not been provided properly.

3D Secure may require customers to go through an additional verification process with the card issuer when paying. This verifies that the transaction is not fraudulent and the cardholder’s sensitive data is not at risk.

Typically, you direct the customer to an authentication page on their bank’s website, and they enter a password associated with the credit card or a code sent to their phone to complete the payment process.

How does Acquiring Work?

The acquiring system in its simplest form includes several participants:

  • an acquiring bank (provides acquiring);
  • a merchant (activates this service in the bank);
  • a customer (pays for goods/services using a card);
  • and issuing bank (issues bank cards used by customers).

What kinds of acquiring exist and how to choose the right one for your business?

The scheme of operation of this system is as follows:

  1. The customer pays for certain services or goods by card.
  2. Based on the card data, the issuing bank receives a request for the customer’s account status. His/her solvency and the absence of restrictions preventing the payment are checked.
  3. The requested amount is debited from the customer’s account.
  4. The acquiring bank charges a fee for this transaction and credits the money to the merchant.
  5. The merchant and the customer receive receipts with information about the purchase transaction.

In practice, the whole transaction process takes a matter of seconds.

Pros and Cons of Acquiring

The acquiring process simplifies business due to its undeniable advantages:

  • Saving time. Cashless payments are faster.
  • Reducing cash risks. The seller does not have to count cash and check banknotes for authenticity.
  • Increase in revenue. From a psychological point of view, it has been proven that it is easier for people to spend money when they pay by card.
  • Attraction of new clients. More and more people prefer cashless payments.
  • Geography expansion. Thanks to Internet acquiring, you can accept payments worldwide.
  • Free staff training. The acquiring bank or service provider usually trains employees for free, which makes them more professional and does not require investments from the merchant.

The disadvantages of cashless payments include:

  • Efficiency. There is always room for technical failures in the operation of programs and equipment. This can be inconvenient. But today it takes literally few minutes for banks and other providers to react and eliminate malfunctions.
  • Safety. Each participant of the cashless payment system runs the risk of becoming a victim of fraudulent activities. But thanks to modern protection mechanisms, such a risk is minimized.
  • Skill. A sales team needs to be trained to work with equipment.

How to Choose an Acquiring Service Provider?

Today, almost every banking organization offers acquiring among its services for merchants. But the fact is that not all banking organizations provide the same equipment and prescribe equal conditions. Thus, there are several criteria to be taken into account when picking a merchant acquirer:

  1. Find out what equipment options the bank offers, what is the cost of terminals, study their functionality.
  2. Read and study the acquiring agreement.
  3. Find out what fees the bank charges for processing each non-cash transaction.

“Important! The bank will take a certain percentage from each transaction made through the credit card terminal. In the case of trading acquiring, it varies from bank to bank and can be as high as 2.5%.”

  1. Clarify which payment systems are supported.
  2. Highlight your rights and obligations under the contract.
  3. Study the rates offered by the bank for settlement and cash services.

What kinds of acquiring exist and how to choose the right one for your business?

What do you Need for Acquiring Integration into your Business?

Before you start accepting credit card transactions, you must open a current account to which sales revenue will be credited. After completing the process, follow these steps:

  1. Fill out an application for acquiring for legal entities on the bank’s website.
  2. Wait for a call from a specialist in the acquiring department, specify the terms of services.
  3. Provide the missing information and papers, sign the contract.
  4. Get equipment for work (or a specialist will set up parameters on the site).

Generally, acquiring can be connected directly via the bank, but this is not always convenient and profitable. In such cases, you can contact a merchant service provider that will help connect acquiring in the necessary banks, offer additional options for managing and controlling traffic.

What do we Offer?

What kinds of acquiring exist and how to choose the right one for your business?

We are a platform that allows customers to quickly and easily get connected to bank acquiring and start processing the credit card transaction flow. We provide a whole range of effective technical solutions for our clients, namely:

  • Fast integrations;
  • Support for e-commerce, m-commerce and alternative payment methods – clients can connect any wallets and payment systems, including regional ones;
  • Multi-currency support;
  • Recurring payments with flexible settings and management tools;
  • Financial monitoring tools for traffic management;
  • Customized payment form in a PCI DSS secured environment;
  • Cost-effective transaction flow;
  • Reconciliation with payment providers;
  • A full-featured mPOS solution with a state-of-the-art SDK and customization features, and more.

For a company, being linked with a merchant acquirer means an increase in revenue and an influx of new customers. If you want to develop your business, it is important that both cash and non-cash payments are available at points of sale. We will be your safe and effective solution for setting well-functioning acquiring.


Is it possible to connect several types of acquiring?

Yes, you can connect several types of acquiring at once if you provide different kinds of services. For example, trading and mobile ones.

Is it possible to connect acquiring without a current account?

When activating the acquiring service, all payments received from customers’ cards must be credited somewhere. To do this, you need to open a current bank account. Thus, to arrange acquiring and cooperate with the bank without breaking the rules, you will need the current account.

Can I use acquiring without an online checkout?

It is possible only in a number of legislatively prescribed cases, including:

  • the sale of magazines and newspapers in paper form in specialized kiosks;
  • the sale of securities;
  • the provision of food for schoolchildren, students and teachers in educational institutions;
  • the sale of food and non-food products from carts, baskets, hands;
  • trade at fairs, exhibition centers, or markets;
  • seasonal trade in bulk.
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