Acquiring - what is it? The meaning of a word, definition, origin, translation

Acquiring (stress on "a") is a set of services for the processing of non-cash payments. The English verb "acquire" means "to acquire," so, in a clear language, acquiring is processing purchases on plastic cards.

Acquiring services are provided by the bank in partnership with credit companies. The system is arranged on the principle of an intermediary between the seller and the buyer when carrying out a non-cash payment.

Let's figure out how the acquiring works:

1) The seller applies to the bank for acquiring services.

2) The bank opens a special account to the seller and issues the equipment necessary to process non-cash payments. The basis of this equipment is POS-terminals - devices for reading plastic cards when making purchases.

3) Buyers pay with cards for goods and services, rather smiling.

Acquiring is listed: Finance