In addition to traditional banking services such as current accounts, credit products, deposit accounts, debt management, and other aspects of business operations, digital acquiring management has become a focal point of interest for businesses. A bank that provides the best user experience can gain a significant advantage in the retail trade segment.
We helped our client with a strategy to position the bank as a leader in delivering quality services to trading companies with benchmark, market analysis, and in-depth user interviews.
Contents
We evaluated digital services of 7 leading acquiring service providers based on a benchmark consisting of 48 criteria grouped into key task blocks.
Identifying the main growth areas, we conducted a series of in-depth interviews with acquiring users from the four largest banks that were most popular among trading companies. During these conversations, we thoroughly examined customer needs, described existing user scenarios, and identified unresolved challenges in the retail business.
At the time of our research in February 2021, online banks offered more opportunities for managing acquiring services than applications. Managing sales points within a personal account was the most anticipated feature in acquiring. Entrepreneurs want a convenient way to create sales points, order terminals, and track sales statistics for each point.
The most apps had common problems:
Having identified the main growth points, we conducted a series of in-depth interviews with users of acquiring services from four major banks, the most popular among retail companies. In the conversations, we thoroughly examined client needs, described existing user scenarios, and identified unresolved issues in the retail business.
The responses revealed that businesses struggle to understand how acquiring works in its current form, and working with terminals is also challenging for inexperienced users. Entrepreneurs expect the bank to assist in setting up the service, explain how to account for acquiring operations in their bookkeeping, provide prompt support for cash registers, and offer convenient processes for setting up and training salespeople. These tasks consume resources and distract from business goals. Therefore, entrepreneurs see the bank as a key methodological and technical support tool for their business, expecting guidance and training programs.
A crucial aspect of the retail business is its world view, consisting of sales points, cash registers, payment terminals, and transaction logs. Based on this, researchers suggested presenting services in a unified "Acquiring" section within the mobile bank, structuring all types of connected acquiring services. The main page should provide information about financial processes in trade:
Entrepreneurs critically need clear and prompt information on receipts for reporting, planning, logistics, and more. We proposed developing a report export feature from the mobile app. For example, a manager could remotely download receipts for the accountant to quickly handle all bookkeeping entries.
The analytics function was added to the backlog in an expanded form: alongside the statement and payment history format, we suggested adding a visual representation of receipt statistics in the mobile bank. Respondents noted they would like transaction information presented in a way that allows for quick overviews and decision-making.
It's also important for the digital service to help reconcile receipt data from different sources. This can be partly addressed by terminals with built-in cash registers. However, with the increasing number of combined devices, the problem will decrease, though some sectors will still use separate cash registers and terminals.
“It's clear that OFD operators transmit data, and there's no such task, but it would be nice to have a service to automatically verify receipts in online banking. If they interacted and reconciled, it would be great because sometimes, when there are many operations, you sit and get confused, manually recording to match these figures.”
Anna,
jewelry store owner
Payment terminals rarely fail, but it always happens at inconvenient times, and sellers have to ask customers to pay in cash. Store owners complained that prolonged repair or replacement of terminals could severely impact overall processes. None of the apps allow ordering repairs or replacements directly, though the smartphone is always handy and logically should offer technical support through the app. Ordering additional equipment for the current point is limited to tracking the request in online banks. This feature can be transferred to the app without losing quality.
Implementing service orders in the mobile app can be divided into two stages: first, display active devices and a list of terminal requests in the "Acquiring" section, then add the ability to order new terminals and contextually call support for specific devices.
It's also necessary to show all service information: direct contact details, how repairs and replacements are handled, service costs, and completion times—critical for entrepreneurs needing to know when their store will return to regular payment operations.
All suggested improvements were described, systematized as project and technical tasks, and handed over for development. The first feedback was received for the report generation feature on acquiring operations for arbitrary periods. Previously, entrepreneurs had to sit at a computer, export data to Excel, and set up period filters. Now, they can do this on their smartphone, independently set filters for any time frame, and analyze data. This proved highly valuable for small retail stores with significant micro-management of stock and logistics.
“For larger companies with multiple locations and cash registers, the arbitrary terminal naming function proved useful. Even within one point, analyzing receipts becomes easier: terminals can be named 'cafe' and 'store,' making it easier to track turnovers. This simple and understandable feature for entrepreneurs wasn’t obvious to us until we started the research.”
Alexander,
Product Development and Innovation Projects
Digitalizing acquiring services helped strengthen customer retention and reduce the number of technical and client support queries, especially for report-related requests and turnover checks. Currently, over 25% of clients use digital acquiring services, and this number is expected to grow.
The collaboration continues with the strategic goal of developing the mobile bank into a comprehensive business tool for the retail industry. Soon, the mobile bank will function as a POS terminal, giving access to digital trading functions not just to managers but also to cashiers and accountants, simplifying processes and enhancing business efficiency.
All these features will be implemented based on real client needs, best market practices, and competitive analysis.
This case study demonstrates a strategic approach to enhancing digital acquiring management services for trading companies. By partnering with Markswebb, the client successfully improved user experience and increased digital service adoption, positioning itself as a leader in the retail trade segment.
Every year we conduct up to 15 studies of digital services. These are industry benchmarks that reflect the state of the market and trends.
