What is the role of the acquirer in a transaction?

The role of the acquirer in a transaction is to accept card payments from the merchant. An acquirer is a financial institution that partners with merchants to handle credit and debit card transactions. When a customer makes a purchase using a card, the acquirer processes the payment by communicating with the card networks and the issuing bank to ensure that the transaction is authorized and that the funds can be transferred from the customer’s account to the merchant’s account.

This function is critical to the payment processing ecosystem, as the acquirer essentially serves as the bridge between the merchant and the card networks, facilitating the transaction and ensuring that the funds are correctly captured and settled. By doing so, the acquirer allows merchants to expand their customer base by accepting various forms of electronic payments, ultimately driving sales and enhancing customer satisfaction.

While customer support, transaction authorizations, and merchandise delivery are important aspects of the overall transaction experience, they do not define the core responsibility of the acquirer in the payment processing framework. The primary function centers on successfully handling and accepting the payment from the merchant for the transaction.