Acquiring has recently gained popularity. This service from banks has become an important tool of trade, and people who work in the field of sales must have heard about it, but ordinary citizens do not quite understand what it is - acquiring. In simple words, let’s try to explain.
Definition
Acquiring is a banking service that allows a buyer to pay for goods using his payment plastic card. This eliminates the need to cash out money at an ATM, which naturally allows the buyer to reduce the time required for this manipulation. Also, the acquiring system allows you to make purchases through the Internet, and for many online stores this is the only tool with which they can generally carry out their activities.
In addition, psychological studies show that a buyer with a card is ready to spend about 20% more money, so acquiring is one of the tools to increase profit that stores are actively using.
How it works?
Acquiring without a cash register works according to a special algorithm, which consists of different stages:
- A payment card is held at the terminal and thereby activated.
- Data on the card holder is sent to the server for verification.
- A sum of money is debited from the card and transferred to the seller’s account.
- 2 checks are issued - to the client and the seller.
- The seller signs the check and gives it to the buyer.
In order for the seller (store) to be able to work on acquiring without a cash register, he needs to conclude an agreement with the bank. Equipment for making payments is provided by the bank or agent. This is a special POS-terminal that you see every time in stores when paying by card. In fact, this is a simple device consisting of a system unit, a printing device, a fiscal part, a monitor and a card scanner. There are special expensive cash registers that can also read cards and accept payment cards for payment. But it is worth noting that such cash registers with the possibility of acquiring are very expensive. To such decisions resorted to large untwisted stores or chain stores. It is better for novice businessmen and owners of small retail outlets to use acquiring without a cash register and a simple POS terminal. So it will be much cheaper.
Payment cards are accepted for payment in two ways - using the POS terminal (portable or stationary) or through the website using the card details. There is always a SIM card in the terminal that provides communication with the bank. These devices can read information from almost any type of card:
- credit;
- debit
- chip;
- cards with magnetic tape.
The only requirement for a card is the presence on the account of money in the amount necessary to pay for goods. However, rarely POS-terminals cannot contact the bank for technical reasons, and this becomes an obstacle when making a payment.
Advantages and disadvantages for seller and customer
So gradually we came to a description of the advantages and disadvantages. Despite the fact that this method of payment is modern and even innovative, it has certain disadvantages. But let's start with the benefits.
Pros of acquiring
An obvious advantage for the seller is a larger average bill.As we have already said, shoppers spend on average 20% more money when paying with a card, so the profit of stores is growing. Psychologists attribute this to the fact that parting with cash is much more difficult than with virtual money. There is also a lack of free cash on hand. In this case, buyers use credit funds, which are almost always on the card. Banks actively offer small loan amounts to their customers, which can be borrowed without interest for a certain period of time.
The second advantage is to facilitate the work of the cashier. When the customer pays for the purchase with a card, the cashier does not need to count the money, check it for authenticity, count the change. This eliminates the possibility of giving the wrong change. Also, the store owner does not need to spend money on cash collection.
Customer base growth is the third advantage. Given the fact that many citizens receive a salary on their cards, it is logical to have a POS terminal in the store, because without it the owner will lose a part of customers and potential profit. If a person does not have cash, then it is unlikely that he will look for an ATM and return to the store to buy something. Most likely, he will buy the goods in the store, which is located near the ATM.
Disadvantages of acquiring for the seller
To realize the possibility of making purchases from cards in the store, the owner needs to conclude an agreement with the bank. Depending on the bank, the commission from each purchase will be 1.5-6.0% of the amount. Also, the owner will have to spend money on rent and further equipment maintenance or pay a one-time fee for the purchase of a device for merchant acquiring. It will cost about 20 thousand rubles.
Pros and cons of acquiring for the buyer
Pluses are known in advance: the ability to pay for products without cash. This makes it possible to rarely use cash and not carry large amounts of money with you in your pocket. Money on the card is security. Even if the wallet is lost, no one can use the card, because it will not know the pin code. As for the convenience of payment, here the buyer practically does not win anything. Paying in cash or by card is equally convenient.
A possible disadvantage of acquiring is that you have to give your bank card to the seller. Nearby standing buyers or the seller himself can remember or photograph the 16-digit card code and CVV code on the phone, which will enable them to make purchases on the Internet without your knowledge. The same can be said about the loss of the card. If this happens, you must immediately call the bank and block the card, because its loss is often equal to the loss of all cash. Recall that if in the card settings the option to pay via the Internet is open, then people who know the 16-digit and CVV code of the card can use this card (they are present on the card itself).
Types of Acquiring
At a minimum, there are 4 types of acquiring, each of which has its own characteristics. The very first was ATM acquiring, which is an ATM and payment terminal where you can replenish your bank card or withdraw money from it. The owners of these machines charge a certain percentage for the provision of such a service. In the city you can find many points to replenish your card. In some, the commission is 2%, although you can find machines that do not take a commission at all.
Merchant acquiring is the most common type that allows the buyer to pay in stores, cafes, etc. using their bank card. We won’t tell the details of this type - they are all described above.
Internet Acquiring
Internet acquiring - this type involves shopping on the Internet. Here payment is made on the website of the processing center. There, the buyer needs to enter the details of his card and confirm the purchase with a password in SMS.Sometimes a password is not required - it depends on the settings that the buyer chooses. Almost all online stores operate using online acquiring. Buying plane tickets, replenishing a mobile phone account, etc. - all this would have been impossible without this type of cashless payment.
We should also mention the purchase of physical goods. Here, the buyer can immediately pay by card with the purchase, can order delivery by mail by cash on delivery and pay for the parcel directly at the post office. You can also pay with a courier who will have a portable POS terminal with him.
Mobile Acquiring
This type is worth a separate explanation, since this is a new and little-known method of calculating a bank card. It works as follows: a card reader (card code reader) is connected to a smartphone via a USB port, an audio connector or via bluetooth. This device costs an average of 2,000 rubles, and it is a fairly cheap analogue of the POS terminal. Some banks generally provide this device for free. To make a purchase, the seller passes the card through a card reader, the buyer then simply signs on the smartphone screen. If the card is with a chip, you will need to enter a PIN code to confirm the purchase.
Insecurity of this type of acquiring
Experts say that mobile acquiring is quite vulnerable today due to viruses that can gain access to the card and, therefore, money. In addition, through a mobile phone, the payment process takes a little longer than through a regular terminal. We also note that such card readers cannot print a check, and although cash does not appear when paying, the seller must give the check to the buyer. Therefore, mobile acquiring without a cash register is impossible.
Law requirements
Starting in 2015, all sellers whose revenue for the year exceeded 60 million rubles are required to provide the buyer with the option to pay by card. For the absence of such an opportunity shall be fined.
For USN payers, acquiring without a cash register is fixed by the date of receipt of income. This is the day when money arrived at the bank account, and, therefore, the seller’s income does not arise at the time the buyer pays for the goods.
As for entrepreneurs on OSNO, acquiring without a cash register is also beneficial for the seller. Here, the day the income is received is the day the buyer pays the card. If an entrepreneur formalizes a business according to the UTII system, acquiring without a cash register is not mandatory for him. However, in a cashless settlement with the population, the seller is obliged to provide the client with a document that will reflect the transaction and the details of this seller. For IP, acquiring according to the UTII system is executed in the same way as for all companies: the entrepreneur selects a bank, concludes an agreement with him for the maintenance and installation of the terminal.
Choosing a bank for connecting acquiring
Regardless of whether cash acquiring or a simple POS terminal is used, an entrepreneur or a large trading network needs to conclude an agreement with the bank. And for this, you need to carefully approach the choice of a financial institution and study the conditions that it offers.
First of all, you need to find out exactly what equipment the bank is ready to provide. Good equipment provides greater security and faster operation. The following options are possible:
- POS terminal
- cash machine;
- imprinter;
- Pinpad;
- processing center.
The most popular and effective solution is a POS terminal. When working with a cash register terminal, additional financial burdens are possible.
You also need to pay attention to the type of communication between the bank and the terminal. If the terminal is connected via GPRS, then the response from the bank will have to wait longer. The fastest communication channels are Wi-Fi and Ethenet. Otherwise, the buyer in the store will have to wait longer until the payment passes.
When concluding a contract, be sure to study the conditions of acquiring. The contract indicates all aspects of the relationship between the provider and the consumer of the service. If the bank will shirk its duties, then it can be sued. And there, the agreement will be the main subject of consideration of the case. Be sure to study the acquiring rates of different banks. It is tariffs that are often the reason for choosing one or another bank as the main acquirer.
And so it can be explained in simple words what it is - acquiring. Of course, the process itself contains many technical and legal difficulties.