Acquirer

Acquirers are banks (also known as acquiring banks) or financial institutions that represent one or more online payment methods. They acquire traders as partners and conclude contracts with them regarding the acceptance, authorization and settlement of payment methods as means of payment for goods and services. They process the transactions and transfer the respective amounts to the merchant.

Any merchant who accepts credit card payments requires an acceptance contract. The acquirers again need an appropriate license from the card companies. Card companies such as Visa, Mastercard, American Express or Diners Club entitle the acquirer to issue cards with their own logo.

To make credit card payment in the shop possible, the dealer requires a PCI / DSS certification. This certification requires relatively high technical and administrative security standards. If an online shop operator is unable or unwilling to undergo this examination, he can work with a payment service provider who is already PCI / DSS certified and has existing contracts for technical cooperation with one or more acquirers. The PSP acts as the technical processor for the online shop.