Online acquiring is a crucial component of every type of business. We'll tell you why you need it, how it works, and how to integrate it in your company.
In 2021, bank cards like Visa and Mastercard have become the most popular means of payment in the world. It is a figure that demonstrates how fast global commerce evolves and explains why it is becoming harder to conduct business without acquiring.
Choosing a merchant account provider to handle electronic check or credit card payments is one of the most important decisions you will make as a business owner. Pick the wrong service provider, and you’ll pay high rates and fees, getting poor quality of service and a payment solution that doesn’t meet your business needs. Choosing the right supplier means gaining a competitive advantage.
Balancing out the payment process can be a continuous struggle for platform providers and large merchants who manage multiple PSPs. This practice often leads to reduced acceptance rates, wasted time and resources, and errors in charges.
Without doubt, banks have come to the realization that a technology-driven strategy is essential for operational efficiency. Most of the industry’s giants went digital long ago in terms of the user experience with apps and portals. That’s crucial for their UX – in terms of how their customers see them.
PSPs and financial institutions often have needs that are unique to their business. These needs that go unaddressed can turn into pain-points, and revenue reduction.
It's no secret that the payment industry has come a long way. From 1997, when Authorize.net started it all by collecting transactions by fax and email, the developments have been extraordinary. Today, we are looking at a rapidly evolving industry, from instant payments, thousands of payment methods, global infrastructure, open API, remote KYC, to purchases for cryptocurrency
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