In this article, the team at Acquired.com will break down payment processing to help you understand what a payment gateway is, how it works and where it sits in the payments chain.

Get in touch with the Acquired.com team to chat through this in more depth or read on to discover:

• What is a payment gateway?
• How do online payment gateways work?
• What is an acquirer?
• What is a payment processor?
• How much do payment gateways cost?
• How to select the right payment gateway for your business

What Is a Payment Gateway?

A payment gateway is a service used by businesses to collect, encrypt and transmit customer payment data. Commonly termed a “bridge” or “pipe”, a payment gateway sits between the business’s checkout and the business’s acquiring bank (for card processing) or other payment method providers (e.g. e-wallets or BNPL – Buy Now Pay Later).

The key functions of a gateway do vary by provider but as standard, for a card transaction, they:

• Validate the customer’s credit card or debit card details entered at checkout
• Securely pass the payment data to the business’s acquiring bank
• Inform the business whether the payment has been authorised
• Administer reporting and support manual processing of refunds

How Do Online Payment Gateways Work?

Here’s an example of how payment gateway providers work as part of an online card transaction:

1. Encryption at checkout: When a customer makes an online payment, they provide their credit or debit card details at the online checkout. The payment gateway encrypts this sensitive payment data, ensuring its security.
2. Authorisation: The payment gateway sends the encrypted data to the acquirer. Using the acquirer’s payment processing technology, the transaction information is passed through to the relevant card scheme (e.g Mastercard, Visa) and on to the customer’s issuing bank to request authorisation. This request seeks approval for the transaction by checking the customer account is valid and has sufficient funds.
3. Response handling: If the customer’s issuing bank declines the transaction, the merchant can ask the customer to pay via an alternative payment method supported by the payment gateway. If the payment is approved by the customer’s issuing bank, the gateway calls a settlement request (capture) which is passed down the payment chain as before, instructing the issuer to settle the transaction.
4. Settlement of funds: At this point the funds will be visible in the business’s merchant account held by the acquirer. The acquirer receives the funds from the issuer, for said transaction, usually overnight. The merchant will receive the funds for the settled transaction from the acquirer in their business bank account, as per the agreed settlement times between the two parties.

What Is an Acquirer?

An acquirer or acquiring bank is a bank or a non-bank financial institution (NBFI). An acquirer works very closely with a payment gateway and is essential for enabling e-commerce transactions and online payments.

There are multiple different acquirer types, with varied focus and risk appetites, but in essence they all do the same thing. Acquirers provide a connection between payment gateways and card issuers on behalf of merchants through direct connections into the Visa and Mastercard scheme rails. They collect and settle funds a day (T+1) or two (T+2) later. Acquirers charge businesses a transaction fee and take on an element of risk as they confirm approved transactions through to businesses before they receive the funds from the issuer.

What is a Payment Processor?

As explained, the payment gateway facilitates the start and end point of a transaction, encrypting and instigating the transmission of customer payment data at the beginning of the payment chain.

The acquirer processes the transaction data via the schemes and issuing bank to facilitate movement of funds between the customer and the business, a process that involves settlement and reconciliation.

So, what is a payment processor? 

Payment processing technologies are often directly integrated with acquirers. But they are different. Merchant acquirers have the knowledge needed to ensure that all payments going through them are compliant, correct, and don’t show any signs of fraudulent activity. Payment processors simply execute the requests of the merchant acquirers and are not involved in the flow of money – they’re sometimes considered the technical ‘arm’ of the acquirer.

Acquirers may build proprietary platforms or use acquirer processors to facilitate the technical connections to the schemes.

How Much Do Payment Gateways Cost?

Payment gateway solutions can charge businesses in several ways, depending on the gateway offering and how it is integrated to fit your business.

Gateways can offer a suite of additional tools, such as a hosted payment page, integrations into different payment methods and ecommerce platforms, reporting and analytics, 3D secure, account updater, network tokens, risk management and transaction exemption assessment.

You may find payment gateways charge fees for:

• Initial set-up
• Each attempted transaction
• Risk management
• Tokenising card details
• Monthly account management
• PCI-compliance
• Handling refunds and chargebacks
• Reporting and service

How to Select the Right Payment Gateway for your Business

Whether you are selecting a payment gateway for the first time or evaluating your existing infrastructure, it’s important to:

• Understand the initial and ongoing costs charged by the payment gateway provider. Don’t forget to evaluate this alongside the fees from other providers in the payment chain

• Ensure the payment gateway is compatible with your existing platform to avoid any issues during technical integration

• Check how customisable the payment gateway is so that you can continue to provide a great user experience for your customers at checkout

• Confirm that the gateway provider follows strict industry standards set to ensure security throughout

• Don’t hesitate to ask for advice!

As we have covered, payment gateways are a vital part of the payment process but selecting the right payment gateway can be daunting. Making the wrong decision can negatively impact the rest of the technology stack, increase unnecessary costs and damage reputation should you face security or user experience problems.

At Acquired.com, we offer a range of payment and banking solutions, while partnering with multiple acquirers and technology platforms. Our team of payments experts are here to help you make sense of the payment process and find the right solution for your business – everything you need to create a smooth, bespoke payment ecosystem that makes life easier for your customers, and ultimately, reduces your business costs.

To learn more about how we can help your business, get in touch with the expert team at Acquired.com.

Ignoring your customers’ payment preferences can introduce friction into their buying journey and make your competitors a more welcoming alternative. Addressing them, however, can increase conversion, improve customer loyalty, and reduce churn.

Acquired.com recently conducted some research to see which payment methods are preferred when shopping online. We found that 68% of respondents liked using Apple Pay or Google Pay as their preferred payment method, compared with 29% for Debit & Credit Card, and 3% for Open Banking. This result suggests that the majority of consumers want to use familiar, frictionless payment methods.

It’s important to recognise that although digital wallets were highly favoured as a payment method, no single option enjoys complete market dominance or comes close to universal customer preference. To provide the utmost flexibility and ensure your customers have the best payment experience, it’s essential to maintain a variety of payment methods.

The selection of methods for your payments toolkit should be informed by preference data, which can vary based on your business type and the markets you serve. Additionally, take into account trade-offs with other vital payment factors, such as cost and authorisation success rates, when making the choice about which methods to offer.

Why should you provide your customers with a variety of payment options?

Customer expectation and convenience

The global average for shopping cart abandonment in the retail industry is 72.8%. Furthermore, 73% of customers will abandon a poorly designed website in favour of one that makes purchasing a product or service easier. Sluggish checkout processes, which cause shoppers to hesitate and eventually leave, are one of the factors driving this large number.

Consumers today expect businesses to address their needs head-on. By providing a variety of payment options, you will establish yourself as a forward-thinking company that prioritises the needs of its customers. As a result, your business’ visibility will increase, as will your sales. Increasing the number of payment options available will also reduce the amount of hesitation people have when making a purchase.

Growing Your Customer Base

You can make a better-informed decision on which payment options are best suited to your audience by taking the time to get to know your customers based on your products or services, brand mission, buyer personas, and data based on previous purchases or customer engagements.

If you are looking to grow your customer base, it is wise to offer a variety of seamless payment options which cater to different generations and demographics of shoppers. For example, Gen Z and millennials have been found to prefer alternative payment methods such as in-app purchasing, digital wallets, and mobile payments, whereas older generations generally prefer debit or credit cards. Set up a variety of payment options across your main channels and touchpoints to encourage a larger audience of customers to buy from you, and they’ll be more likely to come back.

Building Brand Trust

Consumers value trust in today’s retail environment. You will reach more customers and retain the majority of them if your brand is perceived as transparent and trustworthy. Offering multiple payment options is an effective way to build trust, which is a sustainable growth tool for modern commerce or ecommerce businesses. Having a consistent mix of secure payment options will make your customers feel valued and safe, and your revenue will rise in tandem.

Remain reactive to your customer payment preferences

Once you’ve invested time in understanding your audience, consolidate your knowledge by delving deeper into available payment methods. Armed with this information, you can confidently determine which payment options to integrate into your website or online store, tailored to your audience’s requirements and preferences.

Once your payment methods are operational, it’s essential to monitor your sales sources closely to identify the most effective ones. Any payment methods that see infrequent use and occupy valuable space in your checkout process can be substituted with more streamlined alternatives, there is such a thing as too many payment options!

An all-in-one solution that delivers multiple payment methods

Acquired.com’s Hosted Checkout is a pre-built, highly customisable and quick to deploy solution that allows merchants to accept credit and debit card, Apple Pay, Google Pay and Open Banking payments through a single integration. The solution addresses the financial and operational burdens faced by merchants undertaking multiple integrations in order to offer different payment methods to their customers.

With our Hosted Checkout solution, you can enable and disable payment methods without the need for any coding. For businesses looking to integrate digital wallets including Apple Pay and Google Pay alongside card payments, Hosted Checkout eliminates the need to create a developer account and submit an application to Apple and Google directly, in addition to streamlining the technical aspect of integration.

Additionally, the ability to offer Open Banking payments, a payment method that is yet to see widespread use in many sectors, alongside other payment methods and without the need for a separate integration, can be a game changer for forward-thinking businesses.

At the centre of this revolution are two key players: Account Information Service Providers (AISPs) and Payment Initiation Service Providers (PISPs). In this article, we will explore the two types of third party providers (TPP) in Open Banking, and how their services influence the way users manage their finances and initiate payments. We will also explore how businesses can unlock the benefits of both AISP and PISP Open Banking services to reduce costs and enhance their payments ecosystem.

The growth & benefits of Open Banking

Despite initial slower adoption than other Open Banking services, the use of Open Banking PISP solutions is now growing consistently in the UK. The education surrounding the benefits of Open Banking powered payments has become more widespread, encouraging regular usage by customers, and increased adoption by businesses.

For consumers, benefits such as a more streamlined payment journey with less data entry are clear winners when it comes to checkout customer experience. And for merchants, reduced costs, improved authorisation success rates and real-time payment settlement offered by Open Banking makes this payment method an appealing option to add to ecommerce checkouts.

How do PISP’s differ from AISPs?

In a nutshell, AISPs have ‘read-only’ access to financial data and can view a customer’s bank account data via their financial institution, this allows businesses to gather user information that can influence services offered and help improve their products.

PISPs go one step further, having ‘read-write’ access to customers’ financial information and authorisation to push payments from a user’s bank account, removing the need for any manual data input of debit or credit card information.

How can businesses benefit from AISPs?

The key feature of an AISP is the ability to gather financial data from users and make tailored recommendations to suit specific needs. From a high-level view, this has a very clear benefit – by accessing bank account data directly from users, businesses can gain deep insight into their customers’ finances and money management. Analysing users’ buying habits then allows businesses to make personalised recommendations and offer innovative solutions like spending caps, saving opportunities, and other smart budgeting services.

One example of this can be seen in the lending sector. AISPs allow lending companies to assess customers’ financial information in detail, using the data to quickly analyse eligibility and enhance customer affordability. For the customer, this means they receive decisions quicker and have greater control over their financial decisions. The outcome of this is speedier application approval, reduced administrative costs, and efficient decision making about customer affordability with higher precision.

How can businesses benefit from PISPs?

As with AISPs, PISPs can support businesses in reducing friction and costs, as well as improving the overall payment experience for customers by connecting directly with bank accounts.

For merchants, the benefits of adopting Open Banking payments are substantial. Businesses can expect to save up to 80% on operating costs and processing fees compared to traditional card payments. Open Banking payments also achieve significantly higher payment conversion rates and provide instant settlement, improving cash flow and increasing overall revenue.

Compared with traditional card payments, Open Banking payments save time and effort for the end user. The checkout process involves much fewer steps and customer payment information doesn’t need to be manually entered and repeated, providing a more streamlined payment journey and ultimately improving conversion rates.

Adopting Open Banking

Acquired.com is a registered PISP and can help businesses add Open Banking to their online checkout or create payment links. Pay by Bank (our proprietary Open Banking solution) can be integrated as a stand alone product or as part of our Hosted Checkout solution.

Hosted Checkout can be a fantastic place to get started with open banking, allowing businesses to leverage Pay by Bank as a payment method alongside credit and debit card payments, and digital wallets (including Apple Pay and Google Pay) through a single integration. It’s a great way to easily enable the inclusion of Open Banking payments alongside traditional payment methods, sparing businesses the burden of an additional time-consuming integration process for each payment method.

Interested in hearing more about how Open Banking powered payments can support your business? Get in touch with our team today to chat about Pay by Bank and Hosted Checkout.

The majority of individuals in the UK currently possess more than one bank account. Acquired.com recently conducted an online poll and found that 93% of respondents have more than one bank account, with 39% having more than four bank accounts. We can therefore assume that an individual’s funds are distributed across multiple accounts, with no singular account holding all their assets. Consequently, the account associated with their Direct Debit (DD) or Continuous Payment Authority (CPA) set up for credit collections may not always be the account which has available funds – this is where open banking comes in.

Introducing the option to pay via open banking from a different bank account than the one linked to their CPA or DD allows borrowers to make loan repayments from an account of their choice, enabling them to manage their cash flow more effectively. This benefits both the lender and the consumer. Open banking also enables borrowers to have the flexibility to select the repayment amount within their means. This set up ensures that the lender can collect repayments effectively, while also safeguarding the consumer’s financial well-being by allowing them to pay back only what they can afford in a given month.

From a lender perspective, open banking payments have a lower failure rate compared to direct debits or card payments. Our payment transaction data found an average acceptance rate for Open Banking payments of 97% compared to 70% for standard card authorisations (Source: The Acquired.com Hub) . Open banking also relies on secure APIs (Application Programming Interfaces) to initiate transactions directly between banks, eliminating the potential for manual input errors or outdated payment details. The automated nature of open banking payments significantly reduces the likelihood of payment failures, the associated inconvenience, and potential fees.

The combination of lower failure rates and instant settlement offered by open banking payments ensures that borrowers can make affordable and reliable payments, reducing the risk of missed or late payments that may negatively impact their credit score. The efficiency and speed of open banking payments contributes to a smoother and more seamless borrowing experience for borrowers and lenders alike.

Acquired.com have developed their own proprietary open banking solution, Pay by Bank. We also offer payments via card and digital wallets. Get in touch if you are interested in optimising your payments ecosystem.

As the crypto sector endeavours to make access to cryptocurrency as transparent and simple as possible, many demographics still have concerns. In this article, we look at the adoption curve of cryptocurrency, and delve into common misconceptions surrounding crypto security, usability, and sustainability.

Crypto regulation and security

For many, using cryptocurrency is perceived as a high risk practice, and widespread media coverage on popular volatile investments like Bitcoin and Ethereum do little to dispel this assumption. However, recent changes from the FCA surrounding crypto buying and investment mean that crypto is becoming subject to increasingly stringent regulations. In fact, cryptocurrency is now included in the Financial Services and Markets Act, and is also subject to the new financial promotions regime.

If we look at legacy concerns surrounding security and fraud when using cryptocurrency, these have also seen a shift from early scepticism to a more nuanced approach. Nowadays, attempted fraud often occurs with traditional e-money forms rather than through blockchain-powered currency, with credit card fraud (including phishing, skimming and card-not-present fraud) on the rise. While cryptocurrency has this perceived high risk, in reality anything using blockchain technology leaves a much longer audit trail and thus has a higher level of security that often encompasses features such as decentralised verification mechanisms and encryption.

Challenges for payment processors

For payment processors, these common concerns are still very present. It’s no secret that the CMA9 (the UK’s nine largest banks) still prefer to steer clear of crypto and often don’t support it as a payment method. For crypto merchants this poses a very clear challenge, often meaning that pricing is still high and making it difficult for merchants to easily offer crypto as a solution to their customers. Higher transaction fees and more complex payment processes can lead to additional costs passed on to customers, reducing the appeal of cryptocurrencies for payments.

In addition, implementing cryptocurrency payments can be technologically intensive and a time-consuming undertaking. For smaller businesses, the time and cost involved in this may make it difficult for them to justify the benefit of offering cryptocurrency for payments, limiting the solution to more-established merchants. While these concerns are justified, it’s important for merchants of all sizes to keep up with the momentum of crypto trends, and finding a payment solution that can easily implement this new technology alongside offering wider industry support can be key to meeting increasing customer demand.

Evolving attitudes towards crypto

As with any new and disruptive technology, there’s always going to be pushback. However, education, data, and positive use cases are supporting a change in attitudes and dispelling myths presented by the media. In 2023 alone, we’ve seen shifting attitudes within both the UK government and the FCA when it comes to cryptocurrency, aimed at striking a balance between fostering innovation and ensuring consumer protection. Many crypto merchants are hopeful this will dissipate into wider positive mainstream perceptions. As education surrounding cryptocurrency builds, more businesses will be able to make informed decisions about how they offer crypto to customers.

How Acquired.com can help

As a market-leading payment solution that’s been in the industry for over a decade, Acquired.com endeavours to be a vital part of a merchants journey towards offering crypto. We offer wider support to businesses in the cryptocurrency space, including failover contingency measures, ensuring we’re able to migrate traffic quickly if an acquirer sees issues with any crypto platform. In addition, Acquired.com can assist with connectivity and creating strong relationships with acquirers in order to make the payments journey as smooth and secure as possible.

Looking to offer crypto to your customers but unsure where to start? Get in touch with our team today to learn more.

With this in mind, let’s delve into the ways that merchants can use all-in-one payments solutions, and how Acquired.com’s Hosted Checkout can provide a seamless and slick way for businesses to offer a variety of payment methods with a single integration.

All-in-one consolidated platform benefits

As the ecommerce sector continues to expand, the push for merchants to provide more payment options for their customers is becoming increasingly evident. However, this demand can often bring about challenges, such as the time, cost, and effort involved when integrating each separate payment method.

Alongside this, the increasing popularity of Open Banking solutions (such as Pay by Bank) is another factor that businesses must consider when choosing which payment methods to offer. Many merchants are hesitant to embark on a time-consuming and potentially costly integration for a Open Banking solution and conclude that it isn’t worth doing on its own. This is where solutions like Acquired.com’s Hosted Checkout come into play.

The ability to access a variety of popular payment methods through a single integration (including Pay by Bank, our Open Banking solution) allows merchants to switch payment options on and off as needed. This flexibility gives them the ability to test out which payment options are most commonly utilised by their customers, instead of committing to individual integrations for each payment method.

Improving checkout success rate

In addition to offering a range of payment methods, Acquired.com’s Hosted Checkout solution is also a game-changer when it comes to improving checkout success and reducing the number of abandoned carts.

For example, the ability to tokenise, save card details, and offer returning customers a one-click checkout are all built into the checkout flow – the merchant doesn’t need to supply anything additional to access these features. As a result, from the customer’s side, transactions become quicker and easier than ever.

Checkout customisation

Making the customer experience seamless and providing reassurance through familiar branding on the checkout page is vital. For merchants, a hosted payments page should be flexible enough to meet branding requirements and provide an experience that matches the look and feel of their website. In fact, poorly branded payment pages are often the key reason for low conversion rates.

With Acquired.com’s Hosted Checkout, merchants can easily upload their colour scheme and logo, ensuring continuity from the original domain over to the checkout page. It also provides useful visual cues during card input, such as displaying Mastercard or Visa logos in real time as the customer types in their card details. Customisation features like these seem like a small part of the process, but can actually make a big difference to the overall customer experience.

Remaining compliant

So far we’ve seen that the all-in-one payment solution can offer slick and seamless experiences for customers. But how does the Hosted Checkout benefit the more technical challenges that merchants face?

To put it simply, when using a hosted checkout page, the merchant no longer has to worry about the burden of compliance. Acquired.com is responsible for the handling and storing of customer payment information in our own servers, meaning a merchant doesn’t have the hassle of gaining PCI compliance accreditation.

Unlock success with the all-in-one Hosted Checkout technology

Acquired.com’s Hosted Checkout solution provides the flexibility and modernity required by merchants of all sizes. Adding diversity, security and customisation to your checkout will enhance your offering for existing customers, improve conversion rates and drive revenue.

To delve deeper into Hosted Checkout and the wide range of payment options available, get in touch with the experts at Acquired.com today.

In this article, the payment processing experts at Acquired.com discuss some of the main ways that online payments and ecommerce are shaping the way we shop, which business owners need to be aware of if they don’t want to fall behind the competition.

By choosing Acquired.com as your third-party payment processor, you’ll benefit from an efficient and effective online payment solution that creates a streamlined experience for your customers and increases conversion rates for your business.

So without further ado, let’s explore some of the ways that ecommerce is shaping the way we shop…

Online payments mean it’s easier than ever before to make purchases

Ecommerce makes the act of buying more convenient than ever before, with customers able to make online purchases at the touch of a button.

Digital wallets such as Apple Pay and Google Pay securely store customer card details so they don’t have to enter them every time they want to make an online purchase. This streamlines the entire online payment process and means payments can be made anywhere and at any time, offering customers a new level of convenience that was unheard of until recent years.

The fact that payments can now be made quickly and easily at any time or place thanks to the rise of online payment methods has implications of its own for how we shop in the ecommerce age. The more convenient it is to make online payments, the more likely customers are to convert and the more money they’re likely to spend in online stores rather than physical stores.

So, what does this mean for businesses? As more and more customers turn to ecommerce for its convenience, businesses need to make sure they’re keeping up with customer demand by offering various online payment methods and making the checkout process as smooth as possible.

That’s where payment processors like Acquired.com come in. Our payment processing solutions allow your business to easily accept online payments, offering multiple popular payment methods such as Debit & Credit Card Payments, Apple Pay, Google Pay, and payments via Open Banking to increase conversions. When presented with a choice of secure and reliable payment options, customers are more likely to complete their purchase and make repeat purchases in the future.

Customers are shopping around more

The growth of ecommerce has resulted in increased competition in the retail industry. With so many ecommerce businesses all offering the same products, customers are spending more time researching the different products before committing to a purchase.

There are a number of factors that can influence ecommerce shoppers to choose one business over another, including everything from the price of the product to Google reviews about whether the business is trustworthy or not. It’s usually a combination of all of these factors that influences their final decision – but one major factor that should not be overlooked is how easy the online payment experience is.

Essentially, customers are more likely to give their business to businesses that offer a streamlined online payment experience. Customers want to be able to use their Apple Pay or Google Pay digital wallets to complete online transactions at just the touch of a button, rather than needing to type out their card details.

And if your customers are trying to make a purchase on the go, they might not even have their physical card to hand, which means you could lose out on conversions if you don’t offer multiple payment options that allow customers to use their mobile wallets.

As well as offering Google Pay and Apple Pay integrations, Acquired.com makes the online payment process smooth and seamless not just for customers but also for businesses. One of the ways we do this is by automating manual processes, which includes sending out real-time notifications whenever key events occur so you can take immediate action and ensure no conversions are lost due to processing errors.

Businesses can learn about customer preferences with online payments

Customer payment preferences are rapidly changing, so it’s important to be informed so you can stay ahead of the game. Online purchases make it easier for merchants to find out more about their customers and their preferred payment methods. Transaction data can be analysed to check which payment methods customers prefer to use – this information can then be utilised within your business to improve customer satisfaction.

More data about the shopper journey is available when payments are made online, which is useful to businesses for two key reasons: firstly, these insights can help online businesses to focus their marketing efforts based on which products are being added to the user’s cart but not actually converting, and secondly, these insights may highlight problems in the online payment process that are either preventing or discouraging potential customers from converting.

With regard to the latter, the payment process can be easily smoothed out by partnering with a payment processor like Acquired.com. Our online payment processing solutions ensure that the entire payment process is seamless from start to finish, and our team of payment experts are available around the clock to assist you in optimising your payments ecosystem.

Businesses can expand their customer base by embracing ecommerce payment methods

Building a strong ecommerce presence offers businesses new opportunities to expand their customer base.

It’s easier for customers to discover new businesses online than in person, which is why businesses need to ensure that their online checkout process is attractive to prospective customers.

Offering a wide range of convenient payment options is likely to increase conversions and turn one-time purchasers into loyal customers who will return knowing their payment will be handled seamlessly.

Ultimately, the ability to accept payments online is essential to the success of any business that has its place in the ecommerce world. Without it, they have no way to accept funds from customers in a way that is scalable and sustainable as the business grows.

As a reliable online payments processor, Acquired.com are highly attuned to our customers needs and continuously innovate to build customer-led solutions. This allows us to grow and scale effectively alongside our partners in order to keep up with demand as your customer base grows.

Effortlessly process online payments with Acquired.com

The team at Acquired.com has extensive experience in the online payments sphere, offering efficient, effective, and intelligent payment processing solutions to help your business grow.

When you choose us as your online payment processor, you can expect an exceptional level of customer service and a streamlined, convenient processing experience from start to finish that focuses on maximising conversions.

To learn more about our payment processing services and how Acquired.com could benefit your business, get in touch with the team today.

So, what factors should you be looking out for when it comes to finding a payment processor that suits your business? There are a few you should consider, including:

• Do they accept a wide range of payment methods?
• Are they secure and SCA compliant?
• Do they make it easy for you to view your transaction activity?
• Do they work to maximise your profits?
• Do they make your life easier by automating manual processes?
• Are they available to offer support when you need it?

At Acquired.com, we provide the tools you need to facilitate growth in the payments sphere, working collaboratively with your business to increase conversions and streamline your payments ecosystem.

Our team of experts work collaboratively with our customers to create the right payment processing solution – one that considers the needs of your business and helps to maximise your growth.

To find out more about our innovative payment processing solutions, contact Acquired.com today.

Do they accept various payment options?

Payment processors for businesses should offer a variety of popular payment methods to provide choice for customers. When customers are offered their preferred payment option, they are more likely to make a purchase, which means your business is more likely to benefit from an increase in checkout conversions.

Apple Pay and Google Pay are two of the most widely used payment methods for making online payments because they securely store customers’ bank card details and allow them to pay with the touch of a button, without needing to enter all of their details every time they wish to make a payment. These payment methods are also two of the most widely accessible as they can be used by anyone with a Google account or Apple or Android device.

As well as accepting credit and debit card payments, Acquired.com’s solution also features Apple Pay and Google Pay integrations to give your customers more choices when it comes to how they pay for goods and services.

Is the payment processor secure?

It’s important that the business payment processor you choose is secure for your customers in order to keep their payment information safe. Using a payment processor whose solutions are not Strong Customer Authentication (SCA) compliant can result in both you and your customers losing money due to fraudulent activity and can also land you in trouble with the Financial Conduct Authority for failing to comply with SCA regulations.

At Acquired.com, we use EMV 3DS integration to ensure you stay SCA compliant and protect both yourself and your customers from fraudulent transactions. Our payment processing solution uses anti-fraud tools to keep you safe and establish trust between you and your customers, so you never have to worry about fraudsters disrupting your business.

Is it easy to view and manage your payment activity?

Juggling multiple payment platforms can be demanding, which is why you want a payment processor that allows you to view all of your payment activity in one place.

Acquired.com customers are able to access all of their payment activity on a single platform, with a single integration. Our intuitive platform allows you to see all the information you need on one screen, so you can make informed business decisions efficiently.

Does your payment processor help to grow your business?

Your business needs a payment processor that will work with your business to help achieve your growth goals. A payment processor that provides useful insights and easily-digestible data is more likely to benefit your business than one that is detached from your business aims.

Alongside real-time transaction reporting and data analysis, Acquired.com makes recommendations for how you can use the information to maximise growth opportunities for your business. Detailed error response codes provide explanations as to why a transaction was unsuccessful, allowing you to correctly handle these failures and deliver an improved experience for your customers that prevents checkout abandonment.

Do they make your life easier by automating manual processes?

Efficiency is key when it comes to running a business, which is why it helps when payment processors automate manual processes that would usually take up a lot of your time.

Acquired.com’s payment technology is designed to improve efficiency, automating those time-consuming processes. We’ve created an automated dispute management system that allows you to defend disputes at the touch of a button, as well as an event alert system that sends real-time notifications whenever a key event occurs so you can take immediate action.

What’s more, our Account Updater solution will automatically reach out to Visa and MasterCard for updated details for any lost, stolen or expired cards and update them for you, enabling you to process recurring payments without interruption.

Are they available to offer support when you need it?

As much as you always hope nothing will go wrong with your payment processing, sometimes problems can’t be prevented. That’s why you need a reliable and responsive team on your side to ensure you don’t lose out on any sales.

The team at Acquired.com are available around the clock to resolve any issues quickly and efficiently. Among our dedicated team are industry experts who understand the ins and outs of your specific industry and will solve your payment issues with best-in-class customer service.

As well as being on your side when it comes to day-to-day issues, our team also provide your business with regular reporting and transaction analysis to help optimise payment processing and improve authorisation rates.

Increase conversions by choosing Acquired.com as your business payment processor

When you choose Acquired.com as your business payment processor, you can feel confident that you’re benefiting from an efficient, effective, and intelligent solution that will help to streamline and optimise your payments ecosystem.

As one of the UK’s largest independent payment specialists, we are passionate about creating optimised and compliant solutions which best meet the needs of our customers and maximise their growth.

If you’re interested in scaling your business with bespoke payment solutions, get in touch with our expert team today.

At Acquired.com, our digital payment processing solutions allow merchants to easily accept payments via mobile, streamlining the process for both you and your customers.

Businesses from a wide range of industries are already taking advantage of mobile in-app payments as part of their overall payments strategy to improve customer loyalty and increase conversions, and the benefits speak for themselves.

Let’s take a closer look:

A quick and easy method of payment

Over recent years, the use of in-app payments and contactless payments on mobile has increased massively as more and more customers and businesses are aware of its convenience as a payment method. Mobile payment apps allow customers to make a payment with the touch of a button, eliminating the need for physical cards with all of their card details securely stored in their mobile wallet instead.

The streamlining of the payment process thanks to the rise of mobile payment systems is advantageous for both customers and businesses alike. For customers, a faster checkout process means they save time and can make online purchases from anywhere in the world without needing their physical card on hand. For businesses, a faster and more convenient checkout process means customers are more likely to complete the checkout process, and result in a successful transaction.

As a digital payment processor, Acquired.com makes the mobile payment experience simple by creating a streamlined and automated process. Automated dispute management, Account Updater solutions, and real-time notifications that let you know when you need to take action keep both businesses and customers happy by increasing conversions.

Mobile payment solutions offer more ways to pay

For businesses, mobile payment solutions have the potential to massively increase checkout conversion because customers have more payment choices. This once again makes the payment process more convenient for customers, as they aren’t limited to traditional debit or credit card payments.

Some mobile payment methods are fully digital, with the most popular examples being Apple Pay and Google Pay. Acquired.com offers integrations with both of these payment options, which means that any customer with an Apple device or Google account can easily make purchases witht the touch of a button.

Mobile payments provide increased security

Digital wallets allow customers to store and access all of their card details on their mobile devices, so there’s no need to carry their physical cards.

While physical credit cards or debit cards can easily be stolen and used to make fraudulent payments, mobile wallets offer customers a significantly higher level of security because they can only be accessed by entering the correct passcode or by using biometric data such as fingerprint or facial recognition. What’s more, when customers use a mobile payment app for making online payments, all of their data is end-to-end encrypted and remains that way throughout the payment process.

The increased level of security that mobile payment solutions offer is also beneficial for businesses, as any reliable digital payment processor will use secure anti-fraud integrations to ensure you stay SCA compliant. New SCA regulations require mobile payments to have at least two of the three authentication factors ticked (knowledge, possession and inherence). Inherence is the most secure of the three and can be passed using biometric technology such as Touch ID or Face ID, which is made easy using mobile wallets.

Another benefit of mobile payments for businesses is that they don’t need to hold customer card details on file, which means they can avoid the minefield that is dealing with users’ personal data. In the event of a data breach, businesses that use mobile payment services are less likely to violate any data protection laws because the information they hold is considerably less sensitive.

Detailed customer insights can be gathered from mobile payment processing

In-app mobile payments allow merchants to collect a greater amount of data about their customers, which can be used to inform all sorts of business decisions that can help to increase conversions. Purchases made in retail stores don’t offer this same level of customer insight because it’s not possible to track the buyer journey when the transaction takes place in the physical world.

One of the most effective ways this app usage data can be used by merchants is to make improvements to the online customer journey, increasing loyalty by creating a smoother user experience.

Higher authorisation rates are likely with mobile wallet payments

All tokenised card information held in Google and Apple wallets are checked and verified in advance, so the payment is much less likely to be fraudulent than if the customer was paying with their card details on a website.

By offering mobile payments as a payment method for users, businesses can help to improve their authorisation rates and reduce the number of chargebacks or bounced payments they have to deal with.

Mobile payments with Acquired.com

As a reliable mobile payment processor, Acquired.com helps business owners across the UK to streamline and optimise their online payment process, increasing conversions by keeping their customers happy.

Get in touch with a member of our expert payments team to find out more about our bespoke mobile payment solutions and experience our exceptional customer service.

First and foremost, connectivity enables payment providers to establish partnerships and integrations with eCommerce platforms, shopping carts, and marketplaces. By seamlessly integrating their payment solutions into these platforms, payment providers can offer merchants a streamlined and convenient payment experience. This connectivity not only enhances the merchant’s ability to accept payments but also expands their reach to a wider customer base, increasing sales opportunities.

Moreover, connectivity enables payment providers to connect with financial institutions, including banks and payment networks, to facilitate secure and reliable transactions. The ability to establish secure connections with these entities ensures the efficient transfer of funds, reduces fraud risk, and enhances the overall transactional experience for both merchants and consumers. This connectivity also allows payment providers to offer a broader range of payment options, accommodating different preferences and enabling a more inclusive eCommerce environment.

Connectivity is equally important for payment providers to stay abreast of emerging technologies and industry trends. By staying connected with technology providers and solution partners, payment providers can adopt innovative payment solutions, such as mobile wallets, open banking, contactless payments and cryptocurrencies. These advancements not only enhance the payment experience but also foster trust and convenience for customers, ultimately driving eCommerce growth.

Furthermore, connectivity facilitates the exchange of data and information between payment providers, merchants, and consumers. Through secure connections, payment providers can access valuable transactional data, enabling them to analyse purchasing patterns, customer behaviour, and market trends. This data-driven insight helps payment providers tailor their services, improve risk management, and offer personalised solutions to both merchants and consumers. It also enables the development of sophisticated fraud detection and prevention measures, safeguarding the eCommerce ecosystem.

In conclusion, connectivity is of paramount importance to payment providers within the wider eCommerce ecosystem. It enables seamless integration with eCommerce platforms, establishes connections with financial institutions, fosters innovation, and facilitates data-driven decision-making. By embracing connectivity, payment providers can create a robust and efficient payment infrastructure that supports the growth of eCommerce, enhances customer experiences, and drives economic prosperity in the digital age.