Acquiring Bank definition

Acquiring Bank means a bank or financial institution that processes the transaction payment which the Card is used for or on behalf of a Partner Merchant;

Acquiring Bank means a financial institution that receives credit card transactions and then settles with the card-issuing banks.

Acquiring Bank means the entity that initiates and maintains relationships with Merchants for the acceptance of a Credit Card.

Examples of Acquiring Bank in a sentence

• The Acquiring Bank has authorised us to enter into this Merchant Agreement with you to enable the Acquiring Solution, in terms of which you may accept Payment Instruments as payment for goods and services purchased from you.

• Periodically, we receive directives from industry and regulatory bodies, the Card Associations and Acquiring Bank, which we will communicate to you in writing.

• The Acquiring Bank, not us, will process Chargebacks, rejections, Authorisations, and provide Clearing and Settlement services to you.

• You appoint us in conjunction with the Acquiring Bank to provide you with the Card-Not-Present Acquiring Service to enable you to accept payments from Customers to pay for goods and/or services purchased from you.

• If we act as a payment Aggregator, the agreement will solely be between you and us, and the Acquiring Bank will not be a party to that specific agreement.

More Definitions of Acquiring Bank

Acquiring Bank means a bank or financial institution that accepts credit and/or debit payments (including credit cards, debit cards, stored value cards and pre-paid cards) for products or services on behalf of a merchant, including processing and crediting those payments to a merchant.

Acquiring Bank means each of the financial institutions PayPal partners with to process your Card payments, including your Direct Payments and VT Payments, and each of your Card funded PayPal Checkout payments, and with whom you entered into a Commercial Entity Agreement.

Acquiring Bank means the financial institution / bank institution that processes credit or debit card payments on behalf of a merchant.

Acquiring Bank means a Person authorized by a General Purpose Card Network to enter into agreements with Merchants to accept that Network’s General Purpose Cards as payment for goods or services.

Acquiring Bank means a participating bank that is appointed by a Seller to facilitate the Seller’s collection of online payments via FPX. The Acquiring Bank validates the crediting request received from FPX system and credits payments to the Seller’s bank account

Acquiring Bank means a financial institution that accepts or acquires payment transactions from a card issued by itself or another financial institution.

Acquiring Bank means the bank or financial institution that processes payments for You;