Change in Rank
During our analysis of acquiring banks we spend time analyzing the overall set of offerings by each bank for merchants looking to accept payments. During this analysis, we compare the different methods being offered to accept payment and how they differ from solution to solution. It is important to select an acquiring bank which has a lot of different types of services and solutions available to accept your payments.
The security of an acquiring bank is also taken seriously during our process of evaluation. We ensure each of the acquiring banks which are recommended in our list of recommended banks has taken the proper precautions to ensure that all information which they receive either through a financial transaction, account activities, or other forms of communication are being properly secured against intrusion.
It is also important for an acquiring bank to take risk into consideration when accepting payments and potential merchants for their payment processing solutions. Risk assurance helps ensure the proper precautions are taken to ensure that transactions and other financial solutions are being performed by those in good faith with good intentions to protect clients and merchants from associated risk damages.
Another area of our analysis delves into the quality and amount of communication which the acquiring banks have with all parties involved in the transactions. It is important for the acquiring bank to have a dedicated method of communication which is available during normal business hours and potentially by emergency outside of business owners to ensure all parties are about to have issues resolved as needed.
There are a number of standards for information security, data retention, and physical security which an acquiring bank must meet in order to be able to assist merchants and other business customers. During our analysis we ensure the acquiring banks are taking the steps required to ensure that their solutions are properly meeting the standards set by the national government and other regulating authorities.