The Internet is not just a platform for communication and studying various information, but also a way to buy clothes, appliances, and any other product without leaving home. Today, online shopping allows consumers from different regions of the country to buy products around the clock. To pay for an order on the trading site, special payment services are used, which guarantee a quick and safe transfer to the seller's details.

Internet acquiring for online sellers is considered the main condition for making cashless payments. Speaking in financial language, electronic payments are accepted through bank cards. Terminals for payment transactions are presented in large supermarkets, small kiosks, cafes and restaurants. This means that almost every resident of the country is faced with acquiring on a daily basis.

Acquiring: what is it?

The concept of "acquiring" came into circulation from the English language. What is to acquire? Translated, this term means "to receive, to buy." That is, you can purchase goods and services by bank transfer. Today, financiers distinguish three types of payment technologies:

• Internet acquiring;


• mobile acquiring;


• merchant acquiring.

The classic trading look is characterized by the use of POS-terminals. They read data from the magnetic tape, which is on all bank payment cards. Mobile acquiring is based on the use of modern smartphones, as well as miniature payment terminals - mPOS.

Payment on the website of a trading platform or online store without the use of additional tools is provided by Internet acquiring. The condition for performing such financial transactions is the presence of a payment interface, as well as a stable connection to the network in any way. Clients of organizations do not need to physically use a bank card. To carry out a transaction, it is enough to have information about the details of the payment instrument.

The integration of Internet acquiring technology allows customers to place an order here and now, including spontaneously. Experts say that 40% of all purchases are made under the influence of emotions in the evening or at night. The presence of an online payment system allows site visitors to save time on the process, because they do not have to wait for a call from the manager to agree on the order.

Principles and differences of Internet acquiring

The technology principle is based on the integration of the payment system with the trading platform server. After choosing a product, visitors enter their bank card details on their own: for example, number, security code, which is indicated on the back, expiration date. The financial transaction is transferred to the processing center for processing, and then to the bank. In some cases, a call from an automatic system or the introduction of a code sent via SMS (3D Secure) or mobile banking is used to confirm the transaction. Funds are debited from the buyer's account after confirmation by the system. Instantly, funds are credited to the details of the seller.

When placing an order in an online store, the transaction is not only between the seller and the buyers. The collaboration involves other parties such as:

• Acquiring bank. The institution provides the company with a current account, where finances are accumulated after payment by customers. The bank is responsible for the equipment for acquiring, as well as the correct functioning of the technology. This means that the organization solves all the troubles that may arise with the equipment or with the appearance of system errors. Actions are performed for a commission. The institution must be registered in the international payment systems MIR, Visa, MasterCard.


• Online store or seller. This is a provider of goods or services for which payment is made online. The site is equipped with payment equipment from the acquirer.


• Issuing bank. Such financial institutions issue bank cards for offline or online payments. The issuer is responsible for the correctness of settlements during transactions.


• Buyer. This is an individual who owns a plastic card and orders goods on the store's website. Often there are no additional financial costs (commissions) for making online payments.

Without one of the listed participants, it is impossible to complete the procedure, which is based on the use of Internet acquiring technology. This technology differs from the process that is performed for cashless payments in offline stores. Online payment is not accompanied by the use of POS-terminals, but the seller and the acquiring bank are obliged to guarantee the security of the transaction.

To ensure a high level of transaction security, a payment aggregator is connected. A more familiar concept is the processing center. This party to the transaction also receives a commission for guaranteeing the completion of the online payment.

How to connect Internet acquiring?

Making payments online in our country takes place in cooperation with commercial financial institutions, as well as payment aggregators or non-bank credit organizations. To connect, the owner of a trading resource refers to the following structures:

• Bank. This financial institution operates under a special license, has its own or third-party processing service. More often, banks cooperate exclusively with large organizations whose reputation is beyond doubt. At the same time, they refuse to connect small online stores.


• Payment service (aggregator). Such organizations interact with electronic wallets and financial institutions. Aggregators set optimal rates, provide a choice of systems for making online payments and provide round-the-clock technical support.

Often, small organizations cooperate with payment services that offer a comfortable choice of acquiring banks. The choice of an Internet acquiring service provider depends on the following factors

• The amount of the commission for the execution of operations. It depends on the industry, company turnover, payment method, the presence of affiliate programs, as well as other factors. Before connecting the technology, it is important to clarify all of the above nuances.


• Acquiring connection features. These include a list of documents, the term for consideration of the application, as well as other additional requirements. Aggregators often request fewer documents and the connection procedure is faster, which is a natural advantage.


• The presence of ready-made connection programs. Some providers offer package projects for connecting technology to the site, as well as projects for completing equipment.


• Payment Methods. The service provider may support different payment systems. For example, banks are limited to plastic cards. Payment services offer electronic wallets (Qiwi, Webmoney, Yandex.Money), mobile payments (Apple, Google Pay) and cards of foreign institutions.


• Terms of crediting funds to the card. Online store owners should find out the deadline for transferring money to their own account.


• Technical support. Trading platforms need to promptly resolve any problems with financial transactions. Round-the-clock operator support guarantees the effective development of the online store and active customer acquisition.


• The presence of additional options. For example, performing a transaction in one click by remembering the details of a payment instrument, invoicing, multicurrency transactions, holding, etc.

The presence of additional functions allows sellers and buyers to facilitate online shopping. The study of all the factors that have been presented allows the owners of online resources to guarantee convenience during the implementation of certain financial processes and the security of Internet payments. This strengthens the trust of customers and positively affects the turnover of the organization.

Advantages of Internet acquiring

The online payment system is characterized by:

• fast and convenient payment: the payment is transferred to the seller's account in just a few steps;


• round the clock work;


• no need for cash collection, which reduces the budget for servicing the store;


• security for both the seller and the buyer;


• lack of financial risks (counterfeit banknotes, lack of change, etc.);


• increased conversion;


• minimum percentage of refusal to complete the order;


• a large selection of functions (payment for products, e-commerce, training, utility payments).

A connected system for accepting cashless payments, such as Ezzocard, guarantees the rapid introduction of new products into the market. The owner of a trading company only needs to add products to the site and set up the order acceptance function.

Disadvantages of Internet acquiring

The online payment system also has negative characteristics, despite the large selection of functions. The use of Internet acquiring is accompanied by:

• difficulties of registration in payment services, taking into account the current legislation of the country. This pushes for the need to study this technology in detail;


• distrust of buyers who first decided to order products on the store's website. To overcome such a barrier, it is important to provide several payment methods: online, cash and partial prepayment;


• risk of error or system failure. This factor leads to the fact that the organization does not accept orders or provides a refusal to the buyer;


• fraud with payment instruments. Compensation for the scam with payment details is the responsibility of the seller. Compensation for the loss of the company is assigned subject to the identity of the attacker, which happens quite rarely.

Individuals who decide to purchase goods online are deprived of the opportunity to evaluate the product in reality. Internet acquiring for trading resources is naturally an impeccable method of providing customers with the online payment function for an order.

How is payment security ensured?

Why is online payment security needed? This issue is important for sellers and buyers, since both parties to cooperation face certain financial risks. The technology must be accompanied by fraud monitoring, that is, protection from scammers and various fraudulent activities.

The responsibility for this factor rests with the processing center, which, for example, can use the transport of information through the Secure Socket Layer technology. It guarantees the secure transfer of data between participants in the procedure. Providers also use:

• PCI DSS standard. The regulation has been adopted by payment systems that operate all over the world: JSB, Visa, MasterCard, American Express, as well as other organizations. The presence of a certificate of compliance with the standard guarantees the implementation of secure financial transactions. Regular online verification ensures that there are no fraudulent risks. Its results are stored for 36 months.


• 3D secure. This technology is used to protect transactions carried out using Visa bank cards. They use a special code that is sent to a mobile phone number. It is indicated on the site where financial transactions are performed. Transfer of funds is carried out after confirmation by the cardholder of their intentions.

Providers also offer other anti-fraud protection features. The technology automatically analyzes transactions and controls the absence of suspicious transactions. Acquiring for an online store is an effective way to increase the number of customers, and hence the financial turnover.