Understanding the meaning of acquirer

acquirer

ʌ'kwaɪɝrɝr

noun
a credit card processing bank; merchants receive credit for credit card receipts less a processing fee
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Similar:

merchant bank

type of:
banking company bank depository financial institution banking concern
noun
a corporation gaining financial control over another corporation or financial institution through a payment in cash or an exchange of stock
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type of:
bank banking concern banking company depository financial institution
noun
a person who acquires something (usually permanently)
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type of:
mortal soul someone somebody individual person
noun
the financial institution that dispenses cash in automated teller machines and collects a fee from the bank that issued the credit card
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type of:
financial organization financial organisation financial institution

Explanation of acquirer

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