Benefits of acquiring

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1. Growth of revenue and turnover

Today, customers prefer to pay by card or using a QR code, which is why the volume of cashless payments is constantly growing. Thus, by the end of 2023, the share of cashless payments in Russia reached 83.4%, which is 5.3 higher than in 2022. In most cases, the account balance is significantly greater than the amount of cash that buyers carry with them. In addition, when paying with cards, people can receive cashback or participate in special offers from sellers.

If there is no payment terminal at the point of sale, the benin whatsapp phone number probability of the customer returning after he/she has withdrawn money from the ATM is minimal. This is especially true for locations where a small number of ATMs are installed.

2. Convenience of payment for goods and services

Acquiring allows customers to pay for goods and services in just a few seconds. At the same time, sellers do not need to recount the proceeds, store money and hand it over to the bank. Problems with small coins, damaged and counterfeit bills, and change are also solved. Today, there are major industries with multi-billion dollar turnover, where the possibility of paying in cash is either completely absent or tends to zero. For example, on the largest marketplaces or when paying for taxi rides.

3. Cost reduction

After connecting acquiring, the business reduces its cash collection costs. The less cash there is in the cash register, the cheaper it will be to transport it to the bank. The probability of losing money due to errors made by cashiers in the amount of change also decreases. Accounting for financial transactions becomes simpler and more convenient. If the business has completely switched to non-cash payments, it no longer needs cash collection.

4. Reducing the risks of financial losses for businesses and their clients

The less cash is kept in the cash registers of retail outlets, the lower the risk of fraud by staff and theft by criminals. For customers, paying by card or QR code is also much safer, as they do not need to carry large sums of money and worry about losing it.

5. Improving the efficiency of companies

Customers prefer businesses that allow cashless payments and do not want to buy from those who operate in the old-fashioned way. Since cashless payments are instant and the seller does not have to waste time counting change, long queues do not form in stores and other retail outlets. This allows for better service and more customers per day.