Everyone is looking for a way to sell more online (now that selling in physical shops is more complicated). Selling more (both online and in Brick-and-Mortar format) is the result of a sales strategy that has been polished to the last detail in most cases. It's in the small details when your strategy can position you over those of your competitors. Today we come to talk about one of the key factors to increase your conversion (and in many cases forgotten): how to choose the best acquirer for your payment gateway.
An acquirer is the financial intermediary who manages your business transactions; he is the intermediary between your client's card and the payment gateway where the customer enters his details. Its role is to receive the card details from the payment gateway, and process the payment to the merchant's account. The management carried out by the acquirer, in steps, consists of:
When the first two steps (authorisation and authentication) have been successfully completed, the acquirer proceeds to carry out the transaction between the client's bank and the merchant's bank. How?
Simple, isn't it? As simple as it sounds, it's one of the key steps to manage transactions between your customers and your bank. Now, how to choose the best acquirer for your business? There are several alternatives available to you, we will show you which one has the most benefits for you.
The best multi-acquirer network
You might be thinking, why not just do it through my bank? It is true that banks offer acquiring services to their customers, but in addition to not being the most efficient, they charge high commissions for it, offering you a service payment service with insufficient results. However, there are external alternatives specialised in acquiring, where you will obtain a professional service at an unbeatable value for money, obtaining a true financial partner like a bank can never be.
The truth is that when it comes to acquirers, one is often not enough. The most optimised response is a network of global acquirers; in other words: a multi-acquirer network. Why? Because it gives you the advantages of all the acquirers separately, unifying them into a network. These are some of the disadvantages of working with a single acquirer:
If multi-acquirer networks have taught us anything, it is that we don't have to choose a single acquirer to process our payments: we can have all their benefits working with a network. This results in maximum compatibility with the largest number of cards globally.
But payment management goes beyond the acquirers. Although they do the work "behind-the-scenes", payment gateways are the visible face of the entire purchasing process. They are the interface with which your client interacts when entrusting you with their personal data, and from which they expect maximum security and confidentiality. And you know what else? Not all purchasers are compatible with all payment gateways. This is yet another reason why you should team up with a financial partner to obtain the most comprehensive and optimised payment management service for your business.
Payment partners like PayXpert know the complexity behind payment management. That's why we've developed specialised payment management technology for you. You no longer have to worry about how to choose the best acquirer for your business, or which payment gateway will best suit your customer's needs. Our team of experts has designed a multi-channel payment gateway with which your customers can choose the payment method or channel that best suits their needs at any given time:
Sounds good, doesn't it? Because PayXpert is much more than payment technology: it's added value for your business. Do you want to know the financial solution that best suits your needs? Do not hesitate to contact our experts and request a demo without obligation. Because we can do many things for you.