85 Percent of Merchants with Multi-Acquiring Strategy See Rise in Conversion Rates, per Global Report from ACI Worldwide and Edgar, Dunn & Company
According to the report, multi-acquiring offers multiple benefits for merchants and PSPs. In addition to increased conversion rates, both merchants and PSPs highlight resilience and a reduction in operational costs as the main benefits. Access to alternative payment methods (APMs) and the ability to support cross-border eCommerce are additional advantages.
The report finds that 57 percent of merchants and 70 percent of PSPs worldwide currently work with multiple acquirers. Forty percent of merchant respondents that use a single acquirer today want to use multiple acquirers in the next 12 months, while 70 percent of PSPs plan to increase the number of acquirers they use within the next 12 months.
“It is clear from our study that the majority of merchants and PSPs globally recognize the benefits from multi-acquiring,” said
“This study has found that merchants and PSPs are developing different strategies to address the need to deploy robust payment acceptance solutions,” said
Summary of key survey findings for merchants
- The top three reasons why merchants work with more than one acquirer are resilience (21%), to reduce operational costs (18%) and to improve conversion rates (14%).
- 85 percent of merchants that have moved to multiple acquirer relationships have seen an increase in conversion rates, with 23 percent of respondents increasing their conversion rates by more than 10 percent.
- 71 percent of merchants that use a multi-acquiring arrangement are either satisfied or very satisfied with this approach.
- 40 percent of merchant respondents that use a single acquirer wish to swap to a multiple acquiring arrangement in the next 12 months. Reasons given include the desire to gain flexibility and access to APMs (17%), to reduce operational costs (17%) and to build resilience in their acquiring options (15%).
- It is mainly smaller merchants that have single acquiring relationships (30%), primarily due to cost efficiencies or commercial reasons (60%).
Summary of key survey findings for PSPs
- The top reasons PSPs use multiple acquiring relationships are resilience (24%), to reduce operational costs for merchants (21%) and to improve conversion rates (13%).
- 45 percent of PSPs see flexibility as the primary benefit of being acquirer-agnostic.
- 66 percent of PSPs that use a multi-acquiring arrangement are either satisfied or very satisfied with this approach.