Choosing the right payment processor for your business is a much bigger decision than you might realise. A good payment processor that works in your favour can help your business to grow by increasing customer conversions, but a payment processor that doesn’t have the needs of your business in mind can have the opposite effect, causing issues for both you and your customers.
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.