Never Compromise on the Packaging of Your Product.

The packaging is part of a business marketing strategy to drag customer’s attention. Customers usually judge the product by its packaging. Alluring and decent packaging intrigues the buyers. The packaging is the last chance of a sale. The packaging is as important as the product itself. It plays a vital role in consumer’s decisions.

What if I compromise on the packaging? 

Well, the packaging is the backbone of your sales. Your products are displayed on retail shelves. There are many other similar products on the same shelves. To win the sales battle your products have to be attractive enough to entice the buyers. Now the question is how will you catch the potential eyes of customers?

The best way to make your product look amazing is thought product packaging.  

Almost 75% of decisions are influenced by packaging. Custom boxes wholesale can make a bold statement about the product and explains why customers should buy your product only. If you fail to design amazing packaging for your product, it is going to cost you big. No matter how good your product is? It will simply fail without a good box. Your sales will start to fall off. Packaging that doesn’t connect to customers’ hearts has no chance of success.

Let us explain why you should never compromise on your product to give it more clarity.

Brand Awareness:

Imagine you have launched a new product. How will your potential customers know about it? Well, packaging spread brand awareness and acts as a brand ambassador. The shape, color, and style of custom packaging boxes define the personality of your product. Attractive packaging compels customers to take the product home even when the customer doesn’t actually need it. Logos on your box creates your identity. The customer uses the information on the box to decide if they want the product or not. When your products are placed on retail stores, your bath bomb packaging makes customers aware of your brand and its products. Your packaging will set you up from competitors. 

Innovative packaging attracts customers and gives your product an edge over other similar products in the market.

Attracts Buyers: 

Give your customers two products of the same quality. One packed in simple whereas the other packed in custom packaging. Which product customer will choose?

Customers will most likely choose attractive custom box packaging. Whenever you are planning to pack your products always think about what consumer’s demands from your brand. Custom Box Packaging can leave a first and everlasting impression in the customer’s mind. Choose color and style that can appeal to customers. Once your product creates a positive impression in the end user’s mind then nothing can stop it from being successful. Your custom box packaging is a reflection of your brand’s vision. Always use premium material and quality inks for your custom box packaging. Some key factors that can influence customers are:

  • Reusable packaging
  • Practical packaging
  • Informative packaging
  • Good quality
  • Convenient to carry packaging.

When you incorporate all the above-mentioned points in your packaging you will be able to gain maximum sales from the market. Properly packed products with all relevant information will increase customer satisfaction and sales.

Retains the Customers: 

Customers love products whose packaging can interact with them. Sharing details like ingredients, expiry dates, etc. earn the customer’s trust. When you use premium quality for your packaging it helps to retain customers for a longer period of time. Low-grade material for packaging ruins your customer base. No one likes odor and chemically reactive packaging. Packaging can win customer’s sentiments. Use sustainable packaging to bring your positive contribution to the environment and make your customers feel happy.

Product Protection:

We all know the primary purpose of packaging is to provide protection to the products. Attractive but low-grade packaging will bring bad repute to your brand. For instance, think of a customer who opened an attractive box just to find out that the product is damage. Will the customer trust the brand again?

Attractive packaging and spilled product will certainly not leave a good impression on customer mind

Customers buy a product thinking the packed item will be safe. Packaging that is right-sized, durable, sealed and moisture resistant can provide the safety that the product needs. Don’t overdo the packaging. No need to make it so complex that the customer gets frustrated while opening it. Customers love it when the packaging can be opened without any hassle.

Transportation and Better Storage: 

Packaging facilitates the storage and transportation of products. Packaging ensures the product is handled properly during shipment. It acts as storage for products and protects the products in warehouses.

Conclusion;

In order to sustain the market, you need quality packaging. If you overlook the importance of packaging, your business has to bear following dire consequences from poor packaging.

  • The shelf life of the products will be reduced. Your products will be either returned or will lie unsold at retail shelves.
  • The product image will be destroyed. Negative branding could generate for your brand.
  • Goods will get damaged during transit and on shelves. This will not only repel customers but will also increase your repair cost.

You might save some buck by using the same orthodox packaging but your brand will also suffer. Customers will demand a return and you will get bad reviews. You will lose your potential customers and your place in the market.

What are vehicle telematics devices and vehicle tracking

vehicle telematics devices

Like clockwork, another technology gives the idea that changes perpetually the manner in which individuals convey and work with one another. Global positioning system vehicle tracking produced from the development of the computer, cell phones, and the Internet. These all joined to frame another technology; Vehicle Telematics. The more broad subject of Telematics can cover numerous regions. The focal point of this article is vehicle telematics devices, which can be characterized. The utilization of PCs and media communications to upgrade the usefulness, profitability, and security of the two vehicles and drivers.

Various vehicle telematics devices plans

An observable bit of various vehicle telematics devices plans is vehicle following. Normal vehicle tracking system involves two center parts; area equipment (otherwise called Vehicle Location Unit or GPS beacon) and vehicle tracking programming. The GPS beacon is frequently designed in the vehicle. For a first-hand forward vehicle tracking item, the establishment menas fitting the gadget utilizing a straightforward three-wire association; start switch, battery, and earth. GPS guides using SIRF II or comparative GPS beneficiary technology require the utilization of a radio wire, outer to the gadget. Fitted in the view of the sky to get ideal GPS transmissions. A resulting gathering contraption is used to transmit the information off-board the device, typically using a flexible data like GPRS.

Most recent age GPS beneficiaries may imply that the establishment foregoes the utilization of an outer GPS receiving wire. As expressed, the run of the following equipment for an armada the board arrangement utilizes GPS to pinpoint the area. Updates are transmitted at a customarily arranged interval, or after and including an event trigger, for instance, start on/off. This region/adventure information is usually made accessible to the client by the specialist co-op, by means of a site. Where a protected login empowers armada movement to be seen live by largely, using electronic mapping and reporting devices. 

Vehicle tracking system design

Vehicle tracking systems are frequently designed to transmit area and information at a set update rate or when an occasion triggers the unit to transmit information. Passage level “Live (or ongoing) vehicle tracking” for the most part alludes to frameworks which are designed just to refresh at standard planned interims; 1 moment, 2 moments or 5 moments and so forth. These short update interims are utilized while the start status is on and once the vehicle is left, start off. The gadget will regularly go into hibernation or backup mode, transmitting refreshes discontinuously or upon wake up by the following start on. The contribution from a movement sensor joined to the gadget. 

Numerous Telematics Service Providers, confronting expanded rivalry and falling costs, are quick to show that Telematics can mean something other than vehicle tracking. The appearance of joined two way informing and satellite route items is such a case of this item advancement. Armada supervisors can decide to accomplish more than basically find a vehicle or gathering of vehicles. Supposed Connected Navigation arrangements, permit armada directors and employment dispatchers to find and track a vehicle or gathering of vehicles corresponding to client destinations. At that point transmit and get work messages to and from drivers. While the locally available route gadget naturally makes an excursion course. And sends the evaluated time of appearance back to the activity dispatch office. This can prompt more employments finished every day, decreased excursion times, fuel investment funds and improved consumer loyalty. 

Feature of vehicle telematics devices

At the point when utilized in a business domain vehicle telematics devices can be an amazing and important instrument to improve the effectiveness of an association. The action can be examined and choices are taken dependent on genuine data, not a mystery. Key Performance Indicators including, venture times, efficiency and driver hours, can be improved. 

The test is finding the correct following and telematics arrangement and afterward utilizing the data it gives to guarantee the most extreme advantage is returned against the venture. 

Different terms utilized according to vehicle telematics devices may likewise incorporate, GPS vehicle tracking, GPS following, GPS tracker, telematics and satellite following or satellite tracker.

As vehicle telematics devices technology has created and its utilization turns out to be progressively boundless. Consistently expanding the number and an assortment of vehicle tracking frameworks are accessible to independent venture clients. 

Understanding the technology behind these items, comprehending what benefits this technology can convey. While simultaneously, monitoring a portion of the potential traps to maintain a strategic distance from. It will set aside the potential client cash and ultimately help the execution of these arrangements. 

Vehicle tracking 

Vehicle tracking is the technology of following the developments and additionally status of a vehicle using a vehicle tracking gadget. It regularly outfitted with a GPS Locator what’s more, GPRS modem, which is well fit in the vehicle. Following programming is then used to see the data, open as a PC or Web-based mapping and revealing application. 

Trailer Tracking 

Trailer tracking is the technology of following the developments and position of an explained vehicle’s trailer unit. Utilizing a territory unit fitted to the trailer and a strategy for restoring the position information by means of portable correspondence. Arrange or geostationary satellite exchanges, for use anyway either PC or Web-based software. 

Fuel Saving Telematics 

The common vehicle, business vehicle or heavy goods vehicle functioned starting late. By and by comes outfitted as standard with onboard engine diagnostics. This information can be gotten through auxiliary selling items which catch information straightforwardly from the vehicles’ exchanges sort out. These exchanges compose (CANbus) passes data around the vehicle interfacing all the components of the vehicle; engine execution, fuel use, diagnostics, etc. Extraordinary components of which can be caught and afterward transmitted off-board the vehicle to be examined by the client.

Having the option to show the driver that they are over firing up, not utilizing voyage control enough, heading to quick, not being proficient in their utilization of apparatuses and so forth., can prompt improved efficiency and decreased vehicle discharges. Notwithstanding driving execution checking, suppliers are starting to offer ECU remapping to advance the presentation of the vehicle. At the point when joined with capacity to screen vehicle execution and driver conduct, ECU remapping is elevated as prompting mileage reserve funds of up to 10%. 

GPS Satellite Navigation 

GPS Satellite Navigation technology utilizes a GPS and electronic mapping apparatus to empower the client to find a position, at that point course design and explore an excursion. 

Mobile Portable Data 

The utilization of remote information correspondences utilizing radio waves to send and get ongoing PC information to, from and between gadgets utilized by field based work force. 

Vehicle tracking are presently generally accessible from an immense number of providers; a significant number of whom advance themselves as the “showcase pioneer” and guarantee to convey ‘money saving advantage’ and ‘quantifiable profit’. With broad experience of working with the two providers and clients “I feel that clients of vehicle telematics, in the event that they are really to see the advantages guaranteed by providers and producers, need and should be better educated.”

Convert Offline OST to Multiple File Formats

Microsoft Outlook Application is a feature-rich email application which provides numerous functionalities to fulfill the messaging needs of organizations. In the offline mode, it saves all the Exchange mailbox data in the OST file. In the absence of Exchange server connectivity, the user can easily access the mailbox data in the offline mode. But in some situations, the users want to convert offline OST file to Multiple file formats such as HTML / MSG / PDF / EML / PST.

Do you want to know why the user wants to migrate OST file to various file formats? well, there are many reasons. So in this article, we will discuss the reasons and also the solution to export Outlook OST file to multiple file formats. To perform the conversion process we will take the help of one of the renowned SysTools OST Converter software. Before proceeding to perform the OST file conversion process, let us explore the reason first.

Reasons to Convert Offline OST file to Multiple File Formats 

There are several reasons to export the OST file data to various other file formats, some of which are discussed below.

  1. Data Migration: In case if you want to migrate the data from one place to another place like if your organization is shifting the data. Also, you want to move the OST file to another system. So, in that case, the user can perform the OST file conversion process.

2. Mailbox Corruption issue: Like any other files, this OST file can be corrupted due to various reasons such as Virus infection, software malfunctions, hard disk failure, storage media failure. So, In that case, the user can save the OST file data such as Outlook PST or any other required file format.

3. Exchange Server Crash: In case of Exchange server crash and you have an OST file so in that case, the user can save the data In Outlook compatible PST file format.

Convert offline OST file to Multiple File Formats By Using OST Converter Tool 

To export the OST file data the user can take the help of the SysTools OST Converter Application. This software allows the user to perform the OST file conversion process in multiple file formats. Let us explore the features of this application. This software provides you two scanning modes which are Quick Scan and Advanced Scan. In case if your file is severely corrupted then the user can choose the Advanced scan mode. 

The user can also perform the encrypted OST file conversion process.  Also, the user can select the single as well as the multiple OST files for the conversion. OST file converter application comes with the easy to use and simple graphical user interface so that everyone can easily use this application.

Let us have a Quick Glance at the Feature of this OST Converter Application

  1. Convert OST to 5 Different file formats such as HTML / PDF / MSG/ PST / EML .
  2. Migrate OST File emails, contacts, calendar, etc
  3. Export IMAP/ Exchange / Office 365 /Hotmail OST files to PST.
  4. Export corrupted/orphaned OST files easily.
  5. The tool is compatible with the Latest Version of Windows and Outlook.
  6. Remove and Decrypt S/MIME and OpenPGP encryption from OST files.

Follow the Steps To Export OST file to Different File formats. 

  1. Install and Run the Software on your system and click on the Add file.
Install and Run the Software

2. Browse the OST file and choose the Scan Mode.

3. Now Preview Outlook OST file emails, contacts, calendar.

4. Click on the Export button and select the desired file formats to save data.

Conclusion 

There are many reasons due to which the Outlook users want to convert offline OST file to Multiple File formats. So in this article, we have discussed the solution with the help of the OST Converter Application. So to migrate the Outlook OST file items to other formats the user can take the benefit of this software. Also, this application is compatible with Outlook 2019 / 2016 / 2013 /2010 and all versions of the Windows Operating System.

How to Launch a Successful Marketing Campaign for eCommerce Business

Digital Marketing
https://cdn.pixabay.com/photo/2014/08/24/18/56/marketing-strategies-426545_960_720.jpg

Without adequate marketing, eCommerce business websites can’t drive enough visitors to their websites. Therefore, the only way to drive a flood of visitors to your website at the time of launching your eCommerce website is to start a successful marketing campaign. To start a successful marketing campaign means that you should conduct enough research before launching your marketing campaign. After launching a successful marketing campaign, you should have full control over your marketing campaign. Here, we will discuss some essential tips to launch a successful marketing campaign for your eCommerce business.

Optimize The Ecommerce Funnel:

The eCommerce marketing funnel is divided into three parts. These three parts are top, middle and bottom. Top strategy of the funnel eCommerce marketing means that you will have to introduce your brand before the new audiences. While introducing your brand before the new audiences, you should leave a fantastic first impression on the minds of the targeted audience. Middle strategy of the funnel eCommerce marketing means that you will have to groom your followers. For this reason, you can use lots of strategies. Some essential strategies to groom your followers are email marketing, PPC and SEO etc. These strategies are helpful to you to make the final purchasing decision. At last, there comes bottom of the eCommerce marketing strategy. In this strategy, you will have to convert your fans into the customers. As a result, you will have to focus on the personalized experience of the visitors.

E-Commerce Marketing Decisions:

According to experts, if you want to maximize your yearly revenue, you should try to promote your products at least for one week in a month. You should try to prepare this schedule in advance. In this schedule, you should mention all the promotions of your business. By following this schedule, you should also try to make some changings in your website and marketing channels. Moreover, you can also promote your products on your website. The best way to promote your products on your business website is to add banner and slider images. Some essential ideas to promote your products are 20% off over order of $100, 10% off over order of $50 and much more. You should also provide some specific discount offers to the customers at some specific days like Cyber Monday, Valentine Day and Black Friday etc. While making these eCommerce marketing strategies, you can also boost up your revenue by using some essential marketing strategies like SEO, PPC and social media.

Social Media eCommerce Marketing Strategies:

More than 84% of shoppers in the US are asking that the social media presence of your eCommerce business is vital. In the first step, we have discussed the organic social media posts but along with organic social media posts, we can’t deny the importance of the paid social media marketing. As we know that Facebook is the largest social media platform. Therefore, for advertising, we can use Facebook. First of all, we can advertise our business by using Facebook prospecting ads. More than 30% of your fans can’t see organic posts of your business website. If you run prospecting ads on Facebook, your posts will be visible to all the fans. Secondly, there come Facebook retargeting ads. These Facebook retargeting ads are helpful to you to recapture the interest of the users. The third type is known as Facebook dynamic product ads. With the help of Facebook Dynamic Product ads, you can get the extra push to the sales of your products.

Search Engine Optimization for Your Ecommerce Store:

It is a fact that most of the people try to buy the products by searching these products on the search engines. Therefore, search engine optimization is also known as the best strategy to promote your products and services. By using search engine optimization, you can easily rank your products and content for services like coursework writing services on the search engines. The process of SEO optimization starts with keyword research. For this reason, you should try to find out the long tail and high search volume keywords. Some essential tips to optimize the SEO of your eCommerce products are to add rich product descriptions, to add alt tags in the images, to add keywords in the headers and alt tags, to add proper descriptions and to properly structure the URL.

Create A Content Strategy:

To promote your products, you will have to share content. The focus of the content should be on specific keywords. Moreover, with the help of content marketing, you should also try to cater your SEO strategy and you should also try to improve the value of your brand. To create a content strategy means that you should focus on the on-page SEO strategy. By doing on-page SEO strategy, you can easily establish your website as a helpful figure for the customers. After creating content, you should also try to share this content on different channels. Its reason is that that when you share this content on different channels, you can drive millions of viewers to your website. While creating a content marketing strategy, you should also try to establish a distributing system for it.

Plan Email Marketing Strategy:

The businessmen have been using email marketing strategy to promote the products for forty years. Its reason is that it is the best strategy to reach specific audiences. With the help of email marketing, you can’t only communicate with the customers but you can also engage with your customers. The main goal of the email marketing strategy is to increase the conversion rate and to provide some sort of value to the customers. You should divide your email marketing plan into two parts. First, you should try to send monthly and weekly newsletters to the customers. These monthly and weekly newsletters will be helpful for an eCommerce website to engage their customers. Secondly, you can run a drip campaign with the help of email marketing. A drip campaign is a series of emails that you will have to send to the customers. The main aim of a drip campaign is to persuade the audience members to purchase the products.

What is acquiring: in simple words about how to accept payment by credit cards

accept payment by credit cards

What is acquiring in simple words and how does it work

In the previous XX century there was a giant leap in the development of science, engineering and technology. In parallel with these sectors, trade and the economy were booming. As a result of this development, a bank card was invented – a very convenient tool for storing and cashing money.

After some time, the functions of the card were significantly expanded, and now the buyer had the opportunity to pay in the store with its help. But progress didn’t stop there: today we can pay for goods and services with a bank card anywhere — from the store to the website — by any means.

Now let’s try to understand in detail step by step in all the intricacies of acquiring. Let’s start with the definition:

Translated from English, “acquiring” means “acquisition”, and in the banking sector, this term defines the system of accepting cash cards to pay for goods and services.

Such payments make shopping at the supermarket and the Internet easier and more affordable, and also save time when visiting the nearest store.

Millions of enterprises, organizations, shops use acquiring in their work for a number of reasons:

  • It is very comfortable;
  • The organization eliminates the risk of accepting a fake bill;
  • There is an opportunity to save on cash collection.

In turn, customers also loved this payment system, because there is no need to carry cash and there is no fear that the cashier will hand over the change incorrectly.

In fact, telling in simple terms that acquiring is not easy. Since this is a full-fledged integrated banking service, which implies a number of operations, such as technological, settlement and information services of a payment transaction company using a bank card. In this case, equipment used by the bank is used.

How to set card payment in the store? In order to fully use all the options provided by acquiring, you need to draw up an acquiring agreement with a bank that provides a similar service. This bank will install payment equipment (a special terminal, the so-called “pin-pad”) in your store, cafe, restaurant, club, and any other place that will accept bank cards in conjunction with cash desks.

What types of acquiring are

Trade does not stand still, and if some 30-40 years ago we had the opportunity to purchase goods in markets and in stores, now we can easily make purchases via the Internet without leaving home, or pay a bite in supermarkets plastic. Such freedom of action for the buyer is due to the desire of the entrepreneur to attract as many customers as possible into his business .

Banks are not lagging behind manufacturers in this endeavor, trying to invent ever new forms of cashless payments. Since the scope for trade is wide and diverse, acquiring can be of several types. It is difficult to say which acquiring is the most profitable. Depends on the situation.

What is merchant acquiring?

Merchant acquiring is widespread in retail outlets, cafes and restaurants, clubs, etc. Operations are carried out through special pos-terminals. At the same time, a fee is deducted from the recipient of funds in the amount established by the financial institution.

What is internet acquiring?

The  Internet acquiring system  speaks for itself: this type works on the expanses of the World Wide Web. No special applications or equipment are required to complete the operation. You ask “How to accept payment by cards on the site?”. To accept payment on the site by credit card you only need access to the Internet.

What is mobile acquiring?

In mobile acquiring, the operation becomes possible with a smartphone. When using mobile acquiring, there is no need to bind to a specific outlet.

Who needs acquiring and why

In fact, acquiring is beneficial for all participants in trade and financial relations.

For the consumer, cashless payments are convenient in that they do not need to specifically look for an ATM to cash out funds. If you are planning to make a major purchase, there is no need to carry money with you and worry that they can be stolen. When you want to use us routing number Coming to the store with a card instead of money, the buyer will not worry if he has enough cash to buy.

Acquiring is useful for retail outlets, restaurants, clubs and other institutions in that it reduces the risk of accepting false notes, saves money on collection, and also increases the prestige of the organization, attracts new customers and increases its income. A consumer who is accustomed to constantly paying with a card will consistently choose the outlets where this service is provided for purchases and will avoid a place where there is only cash payment.

Well, for banks, money transactions have always been, are, and will be profitable, because it is their job. And to attract customers, they are ready to provide a system of various bonuses, discounts on banking services, free training for employees in working with the acquiring system, etc. An entrepreneur is obliged to pay a commission to the bank for each transaction, and despite the fact that the bank itself also pays a fee to the payment system, and uses part of the funds for the development and maintenance of the acquiring system, its benefit from the provision of the service is obvious.

What steps do you need to complete for acquiring?

Payment for services through the pos terminal is somewhat different from the usual cash settlement system through the cashier, however, this process is not at all complicated if you remember its algorithm:

  • First of all, the cashier activates a bank card by transferring it through the terminal;
  • Data on the card holder are sent to the processing center of the bank;
  • Checking the balance of funds on the card;
  • If there are enough funds, the amount is debited from the card and sent to the operator’s bank account;
  • Two checks are issued – to the seller and the buyer;
  • The seller signs a check for the buyer, the buyer for the seller;
  • The seller must verify the signature on the check with the signature on the card;
  • Upon the expiration of the period stipulated in the contract, the acquiring bank transfers the money to the entrepreneur’s account, having previously deducted the commission.

Payment for services through the pos terminal is somewhat different from the usual cash settlement system through the cashier, however, this process is not at all complicated if you remember its algorithm:

  • First of all, the cashier activates a bank card by transferring it through the terminal;
  • Data on the card holder are sent to the processing center of the bank;
  • Checking the balance of funds on the card;
  • If there are enough funds, the amount is debited from the card and sent to the operator’s bank account;
  • Two checks are issued – to the seller and the buyer;
  • The seller signs a check for the buyer, the buyer for the seller;
  • The seller must verify the signature on the check with the signature on the card;
  • Upon the expiration of the period stipulated in the contract, the acquiring bank transfers the money to the entrepreneur’s account, having previously deducted the commission.

As you can see, accepting payment with bank cards in the store is quite simple, and when choosing high-quality high-speed equipment it’s also fast. In this case, there is no tedious reading of notes and search for trifles. The operation is clear, fast and error free.

To connect with the bank, an Internet connection, a telephone network or GSM-connection can be used. The most effective among these options is, of course, the Internet. GSM-communication provides the ability to accept cashless payments where, for some reason, the Internet is absent. In addition, such a pos terminal is equipped with a battery and can be transported from one place to another. This is very convenient when paying at the place of delivery. However, such a connection is the most expensive.

The pos terminal device includes a monitor, a keyboard for input, a card reader, a printing device (for issuing a check) and a pin pad, with which the client enters a pin code to the card.

Without a cash register, acquiring is possible in two ways – using a portable or stationary pos-terminal, or entering bank card details through the website. A SIM card is integrated into pos-terminals, with the help of which communication with the bank is carried out. Such terminals are capable of reading information from debit and credit cards equipped with a chip or magnetic tape.

How can I connect with a credit card payment?

Having a little understanding of what acquiring is, the question inevitably arises: how to connect payment with plastic cards ? In order to become a user of the acquiring system, you need to contact the direct provider of this service – to the bank. There you can get expert advice regarding the features of the system and how to work with it. You should also be provided with full information about the tariffs and terms of the refund.

In order to make payment by credit cards in the store, the entrepreneur must be registered as an individual entrepreneur or LLC , and also have a current open current account . The place of sale of goods or services must have stable access to the Internet.

If all of the above conditions are met, you just come to the bank and conclude an acquiring service agreement. The agreement must prescribe all the conditions, tariffs, the cost of acquiring , as well as the rights and obligations of the parties.

For security reasons, the bank may require from the entrepreneur evidence that the organization is not fraudulent and needs to install equipment specifically for the purpose of acquiring, and not fraud with plastic cards. The entrepreneur will have to provide a copy of the lease agreement for the premises, as well as photographs of the location of the outlet.

The whole process of paperwork can take about a month.

What to look for when choosing an acquirer bank

Having a little understanding of the acquiring system, a novice entrepreneur faces a new question: how to choose a bank to connect this service? First of all, you should carefully study the conditions under which various banks provide acquiring services. After analyzing all the offers, choose what suits you best.

  1. It will be useful to find out what equipment the bank provides. The speed of transactions will depend on the selected hardware and software. The least costly and most effective will be the use of a pos-terminal;
  2. Pay attention to what type of connection is used, since this factor also affects the speed of the operation. There can be several communication standards – dial-up, GSM, GPRS, Ethernet, Wi-Fi. The fastest is the combination of Ethernet and Wi-Fi (the answer comes within 1-3 seconds). Also, the dial-up and GPRS standards have a fairly high speed, and the latter will have to be additionally paid at the operator’s tariff
  3. Find out what payment systems a financial institution provides. It is more profitable for a novice entrepreneur to work with bank cards of clients with various incomes, because due to this, the client base will only expand;
  4. Read the acquiring service agreement carefully. In any agreement, the main provisions of the relationship between the consumer of the service and the financial organization are prescribed. A thorough study of the rights and obligations of the parties reduces the possibility of unpleasant surprises in the future. If the bank does not fulfill its obligations, then using the contract it will be easier for you to prove your case in court;
  5. Ask what services an acquiring bank provides. Such an option as installation of equipment and its subsequent after-sales service will be very useful to you. It will also be useful to train your employees to work on equipment. After the training, they should acquire knowledge about the principles of the terminal, about types of bank cards and details, about the customer service algorithm with a card, and also learn to cancel authorization, issue a refund, and determine the authenticity of the card;
  6. What financial conditions does the acquiring bank offer? Pay special attention to the period for returning profits to the company. This usually takes one to three calendar days. It will be important to evaluate your expenses when using the service. This amount will include the cost of installing and renting equipment and its maintenance, as well as connecting the service itself;
  7. Compare the rates for the service offered by different banks. As a rule, bank rates look like a commission charged on each transaction, which is expressed as a percentage.

Probably no one will be able to give you an answer to the question of which acquiring is more profitable for private entrepreneurs, only you can choose the best option for yourself by examining the offers of banks and analyzing your financial situation.

What does the acquiring tariff consist of?

Each bank has its own tariff schedule. Tariffs range from 1.5 to 3.0%, depending on the bank and the financial turnover of the enterprise. Everything is logical here: the more customers use a card to pay for a purchase, the lower the commission the bank takes from the enterprise for its services. At least that’s how Sberbank, Alfa Bank, VTB 24 and other banks work.

Additionally, the bank may charge a subscription fee for using the equipment. This fee is due to the fact that the bank needs to cover its own costs for providing paper for printing checks, paying for mobile Internet for terminals, training enterprise employees on the rules for working with equipment, providing information support, etc.

In addition, the bank provides the outlet with advertising materials, from which the consumer must find out that in this store there is the possibility of paying for purchases using a card.

Rights and obligations of the parties

Owning an acquiring system and organizing cashless payments in your store or restaurant implies the observance of certain conditions:

  • You should ensure the placement and safety of equipment for receiving bank cards in the territory of your outlet;
  • Under the terms of the acquiring agreement, you agree to accept cards for payment;
  • You agree to pay the acquiring bank a fee for the transfer of funds, which is specified in the contract.

In turn, the financial institution with which you enter into an agreement has its obligations to you:

  • Providing equipment for servicing plastic cards;
  • Training employees of the organization to work on pos-terminals;
  • Providing instant verification of a sufficient amount of funds on the card for the operation;
  • Compensation of the organization of the amounts paid by credit card within the time specified in the contract;
  • The provision of consumables, after-sales service, as well as prompt assistance in case of emergency situations in the operation of the equipment.

The benefits of using acquiring in business

Firstly, after connecting the acquiring service and installing the necessary equipment, sales will certainly increase. A purely psychological moment is triggered here. The buyer does not count the hard earned money. He easily and simply passes the card through the terminal and that’s it – the purchase is complete. It is much easier for people to part with virtual money than with real money. In addition, people love choice. By giving them the right to choose the method of payment for the purchase themselves, you increase customer loyalty to your organization.

Secondly, by installing a pos-terminal, you increase the security of financial settlements. Not always the cashier can determine the authenticity of the bill, especially at rush hour, when a large flow of visitors passes through the cashier. Bank transfer excludes the possibility of accepting a fake bill. In addition, if a store robbery suddenly occurs, the money transferred from the buyer’s card to the entrepreneur’s account will remain untouched.

Thirdly, working with an acquiring bank, you get access to discount programs and soft loans to this financial institution.

Fourthly, most banks provide free training for your employees. As a result, you get more qualified employees without spending your own money.

Disadvantages of Acquiring

With all the positive qualities and a fairly high degree of security of the acquiring system, do not relax and forget about the basic safety rules. Often, cardholders become victims of unscrupulous scammers. Of course, the state, the payment systems themselves , and banks are doing everything possible to protect funds, but the more sophisticated the protection becomes, the more cunning the scammers become.

Cards with a magnetic stripe were less protected from unauthorized reading, so their release was discontinued and cards with a chip with a higher degree of protection replaced.

As part of the training of enterprise personnel, the bank gives detailed safety instructions for accepting bank cards, which must be strictly observed.

Another significant drawback of the acquiring system is the commission and rent for the use of equipment charged by the bank. And here it is already to judge the profitability of using the system solely by the money turnover of the enterprise. At the same time, statistics show that even small enterprises with a modest income can increase it by about 15% by connecting a cashless payment system.

Conclusion

In general, acquiring provides a number of opportunities for small businesses to grow and develop, to promote goods and reduce costs, and also has a positive effect on the economy.