Business Definition for: acquirer
acquirer
- in bank cards, a bank that purchases merchant sales drafts, also called the
merchant bank
Merchants receive credit for the dollar value of credit card receipts, less a processing fee (the
merchant discount rate
).
- in
Automated Teller Machine (ATM)
networks, the financial institution that dispenses the cash, collecting a transaction fee from the card issuing bank.
- bank gaining control over another financial institution, either through an exchange of stock, payment in cash, or a combination.
Copyright c 2006, 2000, 1997, 1993, 1990 by Barron's Educational Series, Inc. Reprinted by arrangement with Publisher.