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What is an acquirer?

April 26, 2017Acquirer

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What is an acquirer?

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Also referred to as a merchant bank an acquirer is a financial institution licensed by MasterCard that helps a merchant in fulfilling its processing obligation to accept MasterCard cards. The acquirer is set up to connect and process transactions over the MasterCard network. Acquirers or MSPs either sell their processing services directly to merchants or hire agents to sell on their behalf. However, these agents must be registered with MasterCard and clearly identify the MasterCard member they represent on their business cards and stationery. The merchant agreement should also have the name of the bank clearly identified.