Difference between revisions of "Acquirer"

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A financial institution - often a subsidiary of a bank - that ‘buys’ credit card transactions, with recourse, from a retailer.  
 
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.
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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.  
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 +
 
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This is how retailers get paid, and are facilitated to accept card transactions.
  
  
 
== See also ==
 
== See also ==
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* [[Card scheme]]
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* [[Credit card]]
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* [[Debit card]]
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* [[Merchant]]
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* [[Payment service provider]]
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* [[PSD2]]
 
* [[Recourse]]
 
* [[Recourse]]
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* [[Strong Customer Authentication]]

Revision as of 08:15, 22 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.


See also