Acquiring – from the English acquiring-acquisition) – acceptance and maintenance of bank cards as a means of payment for goods, works, services.
In general, there are two types of acquiring activities: 1) servicing of trade and service enterprises (TSP) for non-cash payments in the form of installing devices for accepting bank cards, receiving and processing messages from devices installed in the TSP. 2) settlement of transactions carried out in the serviced TSP. Although it is not limited to this. Acquiring banks constantly analyze existing merchants for the feasibility of working with them, identify fraudulent TSPS, and market TSPS and new devices that appear on the market. Acquiring is regulated by agreements and agreements between the acquiring bank and the TSP. Simply put, acquiring is all that the acquiring bank arranges in the form of ATMs and POS-terminals or offers in the form of services, for example, e-commerce to attract new customers or increase the loyalty of existing ones. Acquiring involves servicing by the acquiring bank not only its own cards, but also cards issued by other banks. Not every Bank has an extensive network of aquiesse, limited only by the issuance of the cards.
