Acquirer: Difference between revisions
From ACT Wiki
Jump to navigationJump to search
imported>Doug Williamson (Expand definition.) |
imported>Doug Williamson m (Categorise.) |
||
| Line 16: | Line 16: | ||
* [[Recourse]] | * [[Recourse]] | ||
* [[Strong Customer Authentication]] | * [[Strong Customer Authentication]] | ||
[[Category:The_business_context]] | |||
[[Category:Financial_products_and_markets]] | |||
Revision as of 09:17, 24 July 2019
A financial institution - often a subsidiary of a bank - that ‘buys’ credit card transactions, with recourse, from a retailer.
The acquirer will present the transactions to the card issuer for payment and will then pay the retailer the amount of the card transactions less a discount - which covers their own and the card issuer’s fee for handling the transaction.
This is how retailers get paid, and are facilitated to accept card transactions.
