An acquiring bank, also known as an acquirer, is the financial institution responsible for processing card transactions on behalf of a merchant. It connects the merchant to the card brand (Visa, Mastercard, etc.) and facilitates communication with the customer’s issuing bank.
Acquirers play a central role in payment processing infrastructure. They are involved in the following steps in the transaction workflow.
- Authorizing transactions
- Capturing transaction data
- Assessing processing fees
- Depositing funds into your merchant account
- Monitoring fraud and chargeback activity
- Ensuring compliance with card brand rules
Understanding your acquirer’s policies and capabilities can affect how your transactions are approved and funded. AltoPay will make sure your merchant accounts are established with acquirers that meet your business’s operational and risk requirements. This ensures a perfect fit from day one.
