"What is an Acquiring Bank?" — 2Checkout E-Commerce Glossary

Share this & earn $10
2Checkout
Published at : 24 Jan 2021
8308 views
27
14

For more info: https://www.2checkout.com/ecommerce-resources

What is an Acquiring Bank?
A bank or financial institution that accepts debit or credit card Transactions for a cardholder.

How Does an Acquiring Bank Work?
Acquirers/Acquiring Banks are registered members of a card network, such as MasterCard or Visa, and accept (or acquire) Transactions on these debit and credit card networks' behalf for a Merchant. The card network connects Acquiring Banks to banks that issue credit cards, or Issuing Banks, so that a customer transaction can be verified. Whenever a cardholder uses a debit or credit card in a purchase, the Acquiring Bank will either approve or decline the Transactions based on the information the card network and Issuing Bank have on record about that cardholder's account.

Aside from managing all Transactions that a cardholder completes with his or her credit or debit card, an Acquirer also assumes full risk and responsibility associated with the Transactions it processes. Because of this, the Acquirer charges various fees for its services. These fees vary by Acquirer, but they're commonly assessed on a routine schedule for activity such as Transactions, refunds, Chargebacks, and other various situations and reasons. The Acquirer assesses fees on behalf of themselves, the card network, and the Issuing Bank.
2checkout2Checkout2Checkout.com

Now United — Summer In The City (Official Music Video)

Now United — Summer In The City (Official Music Video)

Jazzelle - Dare 01 // DARE TO CONFORM TO YOUR OWN EXPECTATIONS (THE HEAD SHAVE)

Jazzelle - Dare 01 // DARE TO CONFORM TO YOUR OWN EXPECTATIONS (THE HEAD SHAVE)

||When the nerd change into badass girl||(1/2)||Parkjiminff||

||When the nerd change into badass girl||(1/2)||Parkjiminff||

Crawl Launch Trailer

Crawl Launch Trailer

A Complete Skimmer Replacementwith Bridge and Brick Replacement on a Concrete Swimming Pool

A Complete Skimmer Replacementwith Bridge and Brick Replacement on a Concrete Swimming Pool

ReWorking a Painting | risky business

ReWorking a Painting | risky business

Waterproof Jacket Timberland - Test Review?

Waterproof Jacket Timberland - Test Review?

Getting an EIN as a Sole Proprietor | Gig Business

Getting an EIN as a Sole Proprietor | Gig Business

Are Jordan 1 Gold Mids A Good HOLD? 📈

Are Jordan 1 Gold Mids A Good HOLD? 📈

The Gap Band "Yearning For your Love"

The Gap Band "Yearning For your Love"

What It Takes to Live a Simple Life

What It Takes to Live a Simple Life

Categorical Data Analysis in R

Categorical Data Analysis in R

Is Coca Cola (KO) Stock A Good Investment?

Is Coca Cola (KO) Stock A Good Investment?

Unknown Mortal Orchestra - Hunnybee (Official Video)

Unknown Mortal Orchestra - Hunnybee (Official Video)

Tormato & Tempesto ! THE WINDY CHALLENGE !  Slugterra / Bajoterra Slug it Out !

Tormato & Tempesto ! THE WINDY CHALLENGE ! Slugterra / Bajoterra Slug it Out !

Ravi B x Nisha B| Phool Tumhe [2019]

Ravi B x Nisha B| Phool Tumhe [2019]

Lil Nas X - HOLIDAY [1 Hour] Loop

Lil Nas X - HOLIDAY [1 Hour] Loop

Tormented By A Life of Envy

Tormented By A Life of Envy

🔵 Provision Provisions - Provisions Meaning - Provision Examples - Provision in a Sentence

🔵 Provision Provisions - Provisions Meaning - Provision Examples - Provision in a Sentence

All types of spin bowl in cricket. What are they and how to bowl them.1 Million views.

All types of spin bowl in cricket. What are they and how to bowl them.1 Million views.

James Bay - Bad

James Bay - Bad

How to Keep Avocados from Browning

How to Keep Avocados from Browning

We Need a Bigger Shed!

We Need a Bigger Shed!

Toly Braun - I Can Tell You Stop

Toly Braun - I Can Tell You Stop

Jake Tapper HUMILIATES Kayleigh McEnany ON AIR for lying

Jake Tapper HUMILIATES Kayleigh McEnany ON AIR for lying

Coldplay - Everyday Life (Official Video)

Coldplay - Everyday Life (Official Video)

ESL Games For Adults | Fortunately/ Unfortunately | Easy ESL Games

ESL Games For Adults | Fortunately/ Unfortunately | Easy ESL Games

Echo dot 4th gen contest results

Echo dot 4th gen contest results

Lil Baby - Ready ft. Gunna (Official Audio)

Lil Baby - Ready ft. Gunna (Official Audio)

Make Your Old RV Look New For Under $50 A Year

Make Your Old RV Look New For Under $50 A Year

Top 10 WORST Legendary Pokemon

Top 10 WORST Legendary Pokemon

17 Craziest Field Crashers!!!

17 Craziest Field Crashers!!!

Mendelssohn - Lieder ohne Worte op. 30 nº 6

Mendelssohn - Lieder ohne Worte op. 30 nº 6

Followed: Jordan Taylor

Followed: Jordan Taylor

How jaggery is more beneficial than regular sugar? - Dr. Sharmila Shankar

How jaggery is more beneficial than regular sugar? - Dr. Sharmila Shankar

It's A Trap! - Ravenous (1999)

It's A Trap! - Ravenous (1999)

'Transparent' Trailer

'Transparent' Trailer

Ragwater "Brushed Aside"

Ragwater "Brushed Aside"

Why is Soda Cheaper Than Water??

Why is Soda Cheaper Than Water??

QUICKLY - JOHN LEGEND FEAT BRANDY

QUICKLY - JOHN LEGEND FEAT BRANDY

Resident Evil 8 Demo... eugh. (PS5 Exclusive)

Resident Evil 8 Demo... eugh. (PS5 Exclusive)

Fats Waller & Ada Brown - That Ain't Right - Stormy Weather (1943)

Fats Waller & Ada Brown - That Ain't Right - Stormy Weather (1943)

The CDC is expanding Covid-19 vaccination guidelines to everyone 65 and older

The CDC is expanding Covid-19 vaccination guidelines to everyone 65 and older

Ray Stevens - Furthermore (1984)

Ray Stevens - Furthermore (1984)

I trusted an impostor...

I trusted an impostor...

If You Solve One-Third of These Riddles, Tell Your Friends You're a Genius

If You Solve One-Third of These Riddles, Tell Your Friends You're a Genius

BREAKING NEWS❗Zidane POSITIF😱Era Zidane di Madrid Sdh Habis?Yakin?🤣Lucas Vasquez Jd Rebutan😱Giroud?🤝

BREAKING NEWS❗Zidane POSITIF😱Era Zidane di Madrid Sdh Habis?Yakin?🤣Lucas Vasquez Jd Rebutan😱Giroud?🤝

Weki Meki (위키미키) - Picky Picky (Color Coded Lyrics Eng/Rom/Han/가사)

Weki Meki (위키미키) - Picky Picky (Color Coded Lyrics Eng/Rom/Han/가사)

Poem Tome: On Life, and the Inability to Endure

Poem Tome: On Life, and the Inability to Endure