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What is a ‘payment processor’?
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What is a ‘payment processor’?

A payment processor is a firm that settles transactions on behalf of a merchant by transmitting data between the customer, merchant, issuing bank and acquiring bank. If you want to…

What is an ‘acquiring bank’?
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What is an ‘acquiring bank’?

An acquiring bank, sometimes simply referred to as an ‘acquirer’, is a financial institution that processes scheme branded credit and debit cards on behalf of a merchant.