Merchant Acquiring Bank
/ˈmɜːrtʃənt əˈkwaɪərɪŋ bæŋk/
Definitions
- (n.) A financial institution that processes credit and debit card payments on behalf of a merchant, enabling card-based transactions.
The merchant acquiring bank facilitated the store’s ability to accept Visa and MasterCard payments.
Forms
- merchant acquiring bank
- merchant acquiring banks
Related terms
See also
Commentary
In drafting, specify that the acquiring bank assumes transaction risk and settlement duties, differentiating it from the issuing bank.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.