acquiring financial institution
An institution that contracts with the bank and the merchant to enable credit card…An institution that contracts with the bank and the merchant to enable credit card transactions. The acquirer deposits the credit card totals and debits the end-of-month processing fees from the merchants' accounts.
Meaning
1 sensesAn institution that contracts with the bank and the merchant to enable credit card transactions. The acquirer deposits the credit card totals and debits the end-of-month processing fees from the merchants' accounts.
Forms
plural: acquiring financial institutions| Singular | acquiring financial institution |
|---|---|
| Plural | acquiring financial institutions |
regular
Synonyms
2 synonymsSee also
neighbours in the dictionaryDictionary text adapted from Wiktionary (Wiktionary contributors, CC BY-SA 4.0) and Open English WordNet / Princeton WordNet (CC BY 4.0, WordNet License); shared under CC BY-SA 4.0. Example sentences and recordings are credited where they appear.