Acquiring for Crypto Businesses: How We’re Handling It As A Team

Alisa Tkach

Unveiled by the Head of Acquiring Support Department Vlad Belyaev

Unveiled by the Head of Acquiring Support Department Vlad Belyaev

Before you start selling goods or services online, you’ll need a card acquiring service to accept cashless payments. It can be a relatively simple procedure if you’re selling sports equipment, but it is always a tough call for crypto-related businesses. 

We’ve already published a piece on crypto acquiring, but this time we will focus on this service from the Mercuryo team point of view. 

How Mercuryo Enables Card Acquiring

To accept bank card payments, merchants use either an acquiring bank or an intermediary, a company that does the acquiring on their behalf. As a crypto wallet or exchange, dealing directly with a bank can be very time and energy-consuming, and that’s why intermediaries who know all the intricacies of this business can be a better option.

Mercuryo is one of the few companies that provides card acquiring services for companies in need of an easy-to-use technological solution. We closely work with several acquiring banks, and any business can integrate their services via the Mercuryo API without dealing with complicated onboarding procedures or preparing legal opinions.  

It’s worth mentioning that Mercuryo thoroughly checks its potential business partners. Your business doesn’t have to be immaculate, but it should be approved by our legal department and acquiring banks themselves. If you’re not doing anything illegal, you don’t have to worry about receiving a green light. 

Once the acquiring service is successfully integrated, business clients can pay with their bank cards online. How does it look from their perspective? Pretty much, like any other online purchase: the client enters card details, passes 3DS, and confirms the payments via a bank message. The acquiring bank freezes the funds on the client’s card, and if the goods or services are successfully delivered, the money will be finally withdrawn from the card.

Acquiring Support Superheroes

A few months ago, we made a strategic decision to create a separate support department that will deal with acquiring requests. The team is still rather small, but it manages to provide 24/7 customer service. Mercuryo’s card acquiring is a relatively new product, and its volumes are picking up momentum. However, we do expect to grow fast.

Using a dedicated chat app where you can talk to your business partner directly helps with staying available. Mercuryo’s tech department is also always within reach, and whenever a technical issue occurs, they always provide nearly instant feedback.

We decided to segregate a whole new support department because crypto wallet, a B2C product, and card acquiring, a B2B service, are essentially different. The original support team deals with all sorts of requests, from failed blockchain transactions to KYC checks and most of the time, they are swamped. The idea of adding one more issue to learn about and handle didn’t seem reasonable. 

Acquiring support is complex: the managers handle admin dashboards and multiple chats with customers and the tech department. They communicate with acquiring banks and make sure that the response time is on point. 

From Personal Perspective

Vlad Belyaev, the Head of Card Acquiring Support, used to work as a customer support manager, handling requests from Mercuryo wallet users. Once card acquiring has been launched, he started helping business customers that gave the service a try. 

After some time, as the volumes began catching up, it became apparent that the workload needs to be reconsidered. Vlad was already invested in working in this direction and happily accepted the new position leading the acquiring support team. And that’s how the new department came to life. 

‘Card acquiring is very straightforward, and that’s what I like about it. Coming from a background in finance and credit, I feel confident working with fiat money, although I also have a soft spot for crypto,’ – says Vlad.

Personal and professional growth in Mercuryo is not a vain promise but an everyday reality. Considering that our team multiplied by three in less than two years, it is only fair to say that the company encourages everyone’s evolvement, both horizontal and vertical. 

If you’ve got skills and intention, nobody is going to stop you from switching departments or taking on a managing position. Work at the customer service department is a perfect illustration of that – some teammates grew into product managers, testers, and other specialists, while others took the lead in the field of support,’ – adds Vlad.

The Bottom Line

Card acquiring is one of Mercuryo’s most promising and in-demand areas of focus. In the near future, thanks to the unstoppable work of our sales and B2B teams, we will be welcoming more new partners and expand the service’s support department accordingly.

Efficiency and personal accountability are the key focuses of any successful team, and we’re striving for the ideal. On another positive note, Mercuryo has got its 5-year goals planned, and all we need to do is follow the roadmap.

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