Acquiring banks

Acquiring banks, also known as merchant banks, are financial institutions that process card payments on behalf of merchants. When a customer uses a credit or debit card to buy something, the acquiring bank handles the transaction, ensuring the funds are transferred from the customer's bank to the merchant's account. They provide the necessary technology, support, and security for these transactions. Essentially, acquiring banks act as intermediaries between the merchant, card networks (like Visa or Mastercard), and the issuing banks (which provide cards to customers), enabling smooth and secure payment processing for businesses.