An acquiring bank (or acquirer) is the bank or financial institution that processes credit and or debit card payments for products or services for a merchant. The term acquirer indicates that the bank accepts or acquires credit card payment from the card-issuing banks within an association. The best-known (credit) card associations are Visa, MasterCard, American Express, Diners Club, Japan Credit Bureau and China UnionPay.
Read more about Acquiring Bank: Merchant Accounts, Acquirer Risk
Famous quotes containing the words acquiring and/or bank:
“A distinction of property results from that very protection which a free Government gives to unequal faculties of acquiring it.”
—James Madison (1751–1836)
“O Gold! I still prefer thee unto paper,
Which makes bank credit like a bark of vapour.”
—George Gordon Noel Byron (1788–1824)