Merchant Acquiring

Merchant acquiring refers to the process by which a financial institution, known as an acquiring bank or acquirer, enables businesses to accept and process electronic payments from customers. It involves the establishment and management of merchant accounts that allow businesses to receive payments via various electronic payment methods, such as credit cards, debit cards, and mobile payments. In merchant acquiring, the acquiring bank acts as an intermediary between the business (the merchant) and the customer's issuing bank. When a customer makes a payment using an electronic method, the acquiring bank processes the transaction, verifies the funds, and transfers the payment from the customer's account to the merchant's account. The acquiring bank also provides the necessary technology, infrastructure, and support to facilitate secure and efficient payment processing.