Glossary:


Term - A : Acquirer

Acquirer


Acquirer

Acquirers are banks or financial institutions that collaborate with business establishments to accept credit/ debit card payments. The bank which has issued the card is known the Issuer and the banks which ensures payment for the merchant establishment is known as the Acquirer. When you withdraw money from an ATM the bank whose card you use is the issuer and the bank whose ATM you use is the Acquirer.
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