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. | + | 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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| + | This is how retailers get paid, and are facilitated to accept card transactions. | ||
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== See also == | == See also == | ||
| + | * [[Card scheme]] | ||
| + | * [[Credit card]] | ||
| + | * [[Debit card]] | ||
| + | * [[Merchant]] | ||
| + | * [[Payment service provider]] | ||
| + | * [[PSD2]] | ||
* [[Recourse]] | * [[Recourse]] | ||
| − | + | * [[Strong Customer Authentication]] | |
| + | [[Category:The_business_context]] | ||
| + | [[Category:Financial_products_and_markets]] | ||
Latest 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.
