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Internet Acquiring and Merchant account

The Acquiring (acquiring – the acquisition) is the payment for goods and services by credit card via POS-terminal (found in grocery stores). However, there is an alternative receiving payments from credit card, it does not require the physical presentation – the internet acquiring.

The Internet acquiring system involves the use of electronic payment systems and a special web interface to pay for goods and services via the Internet map. The Mobile acquiring enables payments using mPOS-terminal connected to the smartphone with the appropriate application, and access to the network.

High requirements for the security of transactions determine the use of special software, as well as additional measures to prevent fraud, so the commission for the services of the Internet acquiring quite high – 3-6%.

The merchant account, for which payments are made with plastic cards – a trading account tied to the main bank.

How it works?

The merchant account can be used both by individuals and legal entities. Examples are numerous sites online stores that use the Internet acquiring, services, ticketing and payment services, consulting offices and school distance (online) learning.

The Customer who wants something to pay by VISA or MasterCard, is automatically sent to the website provider with a virtual terminal and enters the card details. After authentication, the card provider data is transmitted to the processing center to authorize the payment system. If it is successful, the funds withdrawn from the account of the Client’s issuing bank, card issuer, and arrive at the merchant-acquiring bank account. Of course, the buyer shall be notified of the transaction.

Banking Commission: what is due to her size?

With each operation of the Internet acquiring removed banking commission, the size of which depends on: – that the bank’s own processing center, if it is – the commission is lower if the bank uses a third-party center – above; the cost of services, the merchant account, including contributions payment system that issued the card (each system – its rate), and the collection of interbank interchange (interchange fee); the company’s turnover from sales of payment cards: the higher it is, the lower the commission;

Jurisdiction of the owner-merchant account; quantity of bank services related to the merchant-account, for example, the speed of transfer of funds to the account, the level of technical support, speed query processing, the degree of protection against fraud (standard PCI DSS, protocols SSL, SET and 3D Secure), as well as additional opportunities for payments; scope of the company-merchant and time of its existence on the market.

Open the merchant accounts are usually offshore and European banks.

Benefits Merchant Account

Using the merchant account, ultimately leading to increased sales, improves competitiveness and reduces the cost of trading for a number of benefits of online payment: work 24/7; High-speed processing of transactions (several thousand per minute); ease of implementation and maintenance; tremendous cost savings and diversification compared to offline stores; privacy and security of transactions; tax optimization; inaccessibility to foreign exchange controls by the fiscal authorities; the possibility of easy access to foreign markets; preservation and constant influx of new Customers who prefer to pay via the Internet; simplicity and ease of making payments to facilitate spontaneous purchases.

How to open and connect Merchant account using Best Offshore?

Our Company offers the merchant accounts in banks, and in the processing Company. What will be more profitable, we decide with the Customer on an individual basis: it takes at least analyze the website from which payments will be made.

Requirements for website

To connect directly to the Internet via the acquiring bank needs to fulfill a number of conditions:

– the website must have an English version and a static IP-address, all pages should be accessible from anywhere in the country and located in the same domain to a paid hosting, the user data must be protected protocol HTTPS, main page should contain the logos of Visa and MasterCard, as well as 3D Secure ;

– on the website should provide information about the seller (name, legal and physical address, telephone, e-mail and registration number), the value of all goods on the procedure of formation and methods of payment and delivery of the order, on the rules of services, including – terms of exchange of goods or refund the buyer, ensuring confidentiality of client information (consumer data privacy policy);

– value of the goods should not depend on the payment method, and enter the details of a credit card should be done on a secure page spetsprotokolami processing center;

– the buyer shall be provided an electronic check;

– Internet acquiring agreement must be the same person or entity in whose name the domain is registered.

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