Banking structure and other financial institutions in their activities often use terminology borrowed from English.Having a basic knowledge of the global means of communication, it is possible to understand some terms, such as "extension (extension) account," "debit payments" and others.But there are cases where the literal translation has little to report on the actual value of any operation.For example, acquiring - what does it mean?Consider the value of the concept.
concept of "acquiring»
activities of financial institutions to provide the design, information and technology services using payment cards, and equipment specifically designed for these works is acquiring.What does it mean for a language easily understood?
Acquiring (translated from the English «acquiring» - acquisition) represents an opportunity to pay for purchases in hypermarkets, communication services and the like, by means of payment (credit) cards issued by banking institutions.In most Western countries, such a policy calculation has long existed and is widespread.
Types acquiring
are two types of this activity:
- Merchant Acquiring.To carry out this process using POS-terminals, and the card is physically present, on account of which there is a debit, and shall be signed by the owner of the check.
- Internet is acquiring a similar monetary transactions carried out by a special organization called "processing center".When this payment card is not physically present, and signature identification are not available.
Highlights
to pay for goods and services by non-cash method is very convenient, which explains the wide circulation of this process, as the acquiring (which means it was already mentioned above).This process online is as follows: The buyer enters data (initials, card number, bank name, and so on) in a special form on the website and online store at the end of confirming payment.
This online process can take place in several ways:
- payments come at the expense of the online store.However, this method is considered today may already be outdated because of the high percentage of risk;
- payments are made through a system of electronic money;
- acquiring operations are using payment cards of electronic systems with the partial transfer of risk to the organization.
may also be noted that in case of non-services should be level or poor quality of purchased goods the buyer can claim your money back within 180 days.The procedure for canceling called Chargeback, and to minimize the occurrence of such cases regulators have imposed a system of penalties cards to distributors of goods or services.The level of acceptable failure rate for the system VISA card is 2%, and for MasterCard - no more than 1%.
connection of the service can perform both banks and payment processing, while it may be noted that the wage rates and conditions of the two financial institutions are virtually identical.
Payments for utilities, payment for mobile communications, the transfer of funds - this is an incomplete list of possibilities offered acquiring.What does this mean for each person can understand without explanation - getting rid of the queues to make a purchase at any time of day and so on.We can say that this procedure - one of the components of a developed society in economic and technical terms.
