The total volume of the global trade acquiring market in 2021 reached $27.80 trillion. According to numerous experts, it will reach $41.75 trillion by 2026. This information can be found in the Global Merchant Acquiring Market report.
Providers of merchant acquiring services allow sellers to accept card payments, acting as a bridge between sellers, issuers, and payment systems, while offering sellers the whole range of services: authorization, clearing, settlement, dispute management, and information services. During the past few years, the growth of the trade acquiring market was mainly caused by its flexibility and adaptability to the rapidly changing ecosystem of payments. It is worth noting that Internet acquiring is considered one of the most reliable payment options.
All around the world, online stores that use acquiring services and allow customers to pay for goods and services with bank cards are considered more solid and reliable. In addition, this method of payment has a positive effect on the overall image of the company. In addition, according to statistics, the average purchase receipt when using Internet acquiring is generally higher than in the case of other types of payments.
According to Walletto UAB, when choosing a partner for acquiring in the eCommerce segment, it is worth paying attention to several important aspects: Technological and financial solutions that allow customers in various fields to accept payments for goods and services from all locations around the world.
“When choosing a provider of acquiring services, there are several important aspects to consider, such as reputation, country of registration, ability to work with major payment systems and partners, security, technical and legal support for customers, a wide range of services, and individual approach to each customer,” Walletto explains.
For example, Walletto is officially registered in Lithuania. It closely cooperates with Visa and MasterCard and also supports Google Pay and Apple Pay payments. The best and most seasoned security and finance experts work in the company, and that is why it is trusted by the largest financial partners. Walletto provides cutting-edge support service, as well as a personal account manager to ensure high-quality project management and timely completion of all tasks. Each of our experts has a legal or financial education with more than 10 years of experience.
According to Walletto experts, when choosing a partner for acquiring, it is worth paying attention to such criteria as billing rates and service prices. Their approach should be flexible because financial companies can charge fixed commissions, and one-time payments, while the billing rate may depend on the turnover of the store. Also, additional options can also be something to think about.
It is worth noting that in addition to acquiring services, Walletto provides the following tools and solutions:
– Card issuing (BIN sponsorship, Co-branded cards, and White Labeling card)
– Payments (SEPA, SEPA mass payment, and SWIFT)
UAB Walletto is Lithuanian EMI, Principal Member of Visa and Mastercard in issuing and acquiring, direct participant of STEP 2 and SWIFT. In 2021, the company’s turnover reached 19.6 million euros, which is 40% more than in 2020. As of today, the company employs more than 70 people.
Read more:
Key advantages of acquiring services by Walletto in the eCommerce segment