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Facilities for accepting payment by card

Credit Moscow Bank invites your company to take advantage of new opportunities for boosting the growth of your business, and the quality of customer services, by facilitating your company to accept payment by card (known as an "acquiring" services).

This service is particularly relevant for those enterprises in both retail and service industries.

Advantages of using Credit Moscow Bank acquiring:

  • Increase in trade turnaround and greater competitive ability by attracting additional customers from among card holders (and these customers usually spend some 10-15% more on transactions than they had planned to);
  • Reduced risk of financial loss occurring through fraud on the part of the customer (e.g., by paying with forged bank notes) or through errors made by members of your personnel;
  • Less expenditures on paying in and safekeeping cash.
  • No errors regularly made when paying with cash.

The Bank will provide free of charge:

  • Necessary equipment (POS terminal, PIN Pad, imprinter), including installation and set-up.
  • Necessary consumables used when running card payment facilities.
  • Technical maintenance of the card payment equipment installed.
  • Personnel training: how to use the equipment and how to carry out card transactions with it.

Which cards and payment systems does our Bank offer Acquiring for?

Credit Moscow Bank offers acquiring services for international payment services cards, which allows you to cover all target groups of your clientele:

  • VISA;
  • MasterCard;
  • American Express;
  • Diners Club.

How are settlements made?

  • The Bank receives information on all completed operations at your organization’s retail and service outlets.
  • Information is transferred to the payment system (for example, Visa or MasterCard).
  • After the information has been processed, the money from the bank which issued the card the operations were completed with arrives at Credit Moscow Bank.
  • Credit Moscow Bank in turn transfers the money into your organization’s account.

What are the organization’s conditions of service?

  • There must be telephone / Internet access at the retail outlet (also service is possible through a GSM SIM card).
  • The organisation must have a Credit Moscow Bank account, either existing or newly opened, for money received from card sales to be paid into.
  • There is no requirement to show your company’s founding documents in order to set up acquiring (checks are carried out by the Security Service of the Processing Centre).

What is the settlement procedure between the company and the acquiring bank?

  • In conjunction with Credit Moscow Bank, your organization selects the equipment that best suits your company’s operations, technical capabilities and how your sales operate.
  • Within 10 days of the acquiring agreement being signed, Credit Moscow Bank will install the card payment equipment and provide training for your organization’s personnel (describing cards, payment systems and the list of procedures required for registering card transactions). The training given by Bank representatives can be performed in a number of stages to give the necessary level of training to all.
  • From the moment your organization begins accepting card payments, Credit Moscow Bank enters into a commitment (where required) to provide your points of sale with the necessary consumables, as well as providing IT and technical support and any extra personnel training.

How are fees and timeframes for reimbursing funds via Acquiring determined?

  • The fee (commission) is determined according to the monthly average of volume of card sales. The commission that the organization pays to the Bank in accordance with the Acquiring services agreement includes all expenditures incurred from arranging card payments.
  • The timeframes for settling payments are determined and fixed in the agreement.

How expensive does Acquiring work out for a company?

All expenditures are included in the commission in accordance with the acquiring agreement, which is significantly lower than the profit rate of your organization. Moreover, an organization using cashless payment methods reduces spending on paying in and counting up cash, and also increases the rate at which it can turn around services, demand for which is growing constantly, along with the number of card holders.

Branches: 
Moscow: tel.: (495) 72-707-72, msk@cmbank.ru
Saint Petersburg: tel.: (812) 325-86-46, spb@cmbank.ru

Copyright © Credit-Moscow Bank
Small Business Loans

Moscow: tel.: (495) 72-707-72; fax: 237-52-98; Address: 8, 6th Monetchikovsky Lane.
Saint Petersburg: tel.: (812) 635-75-75, fax: 310-13-69; Address: 54, Sadovaya Street.

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