Acquirer

An acquirer is a financial institution or merchant bank that a merchant uses to process their payment card transactions. The acquirer receives authorisation requests from merchants to authorise credit or debit purchases. The acquirer will either approve or decline the debit or credit card purchase amount. If approved, the acquirer will then settle the transaction by placing the funds into the seller’s account.

Every time a credit or debit is used, the services of an acquirer are also being used. An acquirer will charge a monthly and/or a per transaction fee to the stores or merchants to facilitate transactions. Acquirers need to be licensed with credit card companies, such as Visa or MasterCard.

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Payment Processing Services by NOIRE PAY

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