What is the merchant acquiring rate?
Posted: Mon Jan 06, 2025 5:09 am
The merchant acquiring rate is the percentage that a business pays for the ability to accept payments via bank cards or QR codes.
The commission charged by the acquirer or aggregator company from the seller includes the remuneration of the issuing bank, the acquirer and the payment system (Mir, Union Pay, SBP and others).
Each bank or payment service determines the merchant acquiring rate independently. It can be general or differentiated depending on the types of activities, card sales volumes and other business characteristics.
In acquiring, there is a concept of minimum benin whatsapp phone number tariffs, cost price - interchange. It goes to the payment system and the issuing bank so that they have an incentive to service a specific payment instrument, for example, a bank card or payment by QR code.
The rate for offline acquiring is usually lower than for mobile and Internet acquiring. This is due to the fact that the risks of paying online are higher than in the offline environment. Therefore, payment systems include losses from fraud in the cost of Internet acquiring. In addition to the acquiring commission, a bank or payment aggregator can charge money for renting a terminal or provide it for free.
Online businesses are provided with cash registers for rent both for a fee and free of charge. Thus, our fintech platform gives businesses the opportunity to connect to an online cash register for free.
Read also:
Features of international Internet acquiring
How to choose a payment service for online business - a guide for beginners
What types of acquiring are there?
Since businesses sell both offline and online, there are two main types of acquiring. In stores and other retail outlets, payment terminals are installed, to which customers apply bank cards, NFC tags or from which QR codes are scanned. On online platforms, customers enter the necessary data into payment forms and make payments, and also use QR codes and electronic wallets for this purpose.
The commission charged by the acquirer or aggregator company from the seller includes the remuneration of the issuing bank, the acquirer and the payment system (Mir, Union Pay, SBP and others).
Each bank or payment service determines the merchant acquiring rate independently. It can be general or differentiated depending on the types of activities, card sales volumes and other business characteristics.
In acquiring, there is a concept of minimum benin whatsapp phone number tariffs, cost price - interchange. It goes to the payment system and the issuing bank so that they have an incentive to service a specific payment instrument, for example, a bank card or payment by QR code.
The rate for offline acquiring is usually lower than for mobile and Internet acquiring. This is due to the fact that the risks of paying online are higher than in the offline environment. Therefore, payment systems include losses from fraud in the cost of Internet acquiring. In addition to the acquiring commission, a bank or payment aggregator can charge money for renting a terminal or provide it for free.
Online businesses are provided with cash registers for rent both for a fee and free of charge. Thus, our fintech platform gives businesses the opportunity to connect to an online cash register for free.
Read also:
Features of international Internet acquiring
How to choose a payment service for online business - a guide for beginners
What types of acquiring are there?
Since businesses sell both offline and online, there are two main types of acquiring. In stores and other retail outlets, payment terminals are installed, to which customers apply bank cards, NFC tags or from which QR codes are scanned. On online platforms, customers enter the necessary data into payment forms and make payments, and also use QR codes and electronic wallets for this purpose.