In the field of card payments, a distinction is made between two (2) types of banks, namely the issuing bank (issuer) and the acquiring bank (acquirer). The issuing bank (issuer) issues cards to consumers to enable them to make offline and online purchases. In the associated transaction flow of a purchase transaction, the issuing bank manages the authorization of the purchase amount. In case of disputes, the bank will mediate between the cardholder and the merchant. The acquiring bank (acquirer) is the merchant’s bank. It is the place where the merchant’s account for accepting card payments is located. Acquirers are usually connected to different payment gateways to scale the merchant’s acceptance business.
Common challenges of issuing and acquiring banks:
- Staff cannot keep up with the inquiries.
- No support coverage outside established business hours, usually only at some extent on the issuing side of the business.
- Labor costs are high for menial or simple tasks.
- Due diligence processes require experience and a smart scaling approach to handle a large number of applications in case of larger cardholder/merchant portfolio migrations or special promotion projects.
- Lack of sufficient chargeback management support resources.
How Payreto Supports Acquiring Banks
No matter whether you are an Acquiring or Issuing bank: you can always count on us. Backed by a proven track record in payments and financial outsourcing, we are your strategic partner to help you achieve results.
Take advantage of our modular services and get exactly what you need!
Respond to any customer in any country or time zone of your choice with 24/7 availability.
We support you with your chargeback problems and prepare reports on your behalf.
We help you to monitor transactions to ensure successful results.
CUSTOMER DUE DILIGENCE REVIEW
We carry out due diligence on your behalf and comply with the regulations.
We are here to help
Payreto is your reliable partner, we are flexible in taking on projects for front-end and back office work of smaller and larger size with significant workload performance. We cover your non-strategic tasks and properly execute them with low administration efforts.
Usually, we improve the performance to cost ratio by reducing labor costs without affecting, ideally improving service quality and scalability. We also provide detailed reports giving more insights about the outsourced operations resulting in a higher level of transparency compared to many in-house set-ups.