Global Acquiring Network
The global acquiring network refers to an international network of acquiring banks. Thanks to their global coverage, the PSP can offer the best fitting bank for any type of business and ensure the most beneficial conditions to the merchant. The bigger acquiring network PSP offers, the better.
As we remember that acquiring bank processes the transactions on merchants’ behalf, it’s important to understand that a bank’s network is vital. To be more precise, its size and quality.
While most merchants work globally, they may face some difficulties. They need to find fitting payment gateway, correct banks for all the locations. A payment service provider that offers a global acquiring network can solve this problem.
There are a number of benefits for merchants. As the payment processor connects the merchant to the correct bank (from its acquiring network), the merchant can enjoy:
- lower fees because the payment processor will connect the merchant to the proper local bank,
- lower decline rate as the payment service provider connects the merchant to the bank that has experience in its business type payment processing.
That is why when the merchant searches for a payment service provider to open a merchant account, a global acquiring network should be a worthy signal. The cross-border network saves merchants from opening multiple merchant accounts with different processors to fit the local and international needs of the business.