Merchant Service Acquiring
Merchant acquiring is required for the processing of card payment transactions. Merchant acquiring is a collection of payment execution and processing services that includes the use of payment cards and is provided as part of a merchant’s service. In simple words, it’s a service that allows merchants to accept credit or debit card payments. Because the payment process has multiple components (which will be addressed shortly), it is customary for a single company to manage the whole process, including purchasing, providing a payment gateway, processing, and so on.