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AcquirerAn acquirer refers to a bank or processor that is affiliated with a credit card company, such as Visa or MasterCard, and has as their business the job of processing the credit card transactions for your business. The term acquirer refers to the fact that the bank is always trying to acquire new merchants to take their product.If you are going to be processing transactions with your business using credit cards, you will want to have a good relationship with the acquirer you are using. Make sure that you understand clearly all the fees they may charge you for their services. Also, shop around for the most affordable option for an acquirer. Make sure they are a licensed bank, though, so you are not taken in by a scam. There are several credit card processing scams that are out there, charging fees that are way to high, for mediocre services. Do your homework to avoid these types of problems. More Glossary Terms Explained here |
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