Acquirer

The bank or payment institution that processes card payments on behalf of a merchant. Acquirers underwrite merchant accounts, settle funds to the merchant's bank account, and handle disputes filed against the merchant. Visa and Mastercard licence acquirers regionally; some specialise in regulated and high-risk verticals.

In practice.

The acquirer is the counterparty that actually underwrites you, holds your settlement funds and carries the risk on your volume with the card networks. That is why acquirer choice matters more than gateway choice: features can be swapped, but appetite, pricing, reserves and stability come from the acquiring bank behind the stack.

Related terms: Issuer · PSP · MID · Introducer