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!!! Overview
An [{$pagename}], typically the [Merchant]'s bank, is a [Payment Service Provider] that helps a [Merchant] to accept [Payment Card] and debit card payments. [{$pagename}] makes the payments to the [Merchant].
They are sometimes referred to as the __Merchant Acquirer__ or the __Acquiring Bank__ as well.
[{$pagename}] is one member of the The [Four-Party Credit Card System]
!! [{$pagename}] Responsibilities[1]
The [{$pagename}]’s roles and responsibilities are as follows:
* Recruit [Merchants] and provide the necessary set-up so that the merchant is able to accept cards for payment ([POS Terminals] can be owned by acquirers and let out to [Merchants] or directly owned by [Merchants]).
* Enable transactions to be authorized and processed for onward submission to [Card Issuers] for clearing and settlement.
* Providing support and assistance to [Merchants].
* Pay the [Merchants].
* Receive fees from [Merchants].
* Pay interchange fees to [Card Issuers].
!! More Information
There might be more information for this subject on one of the following:
[{ReferringPagesPlugin before='*' after='\n' }]
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* [#1] - [Developing and Managing a Successful Payment Cards Business|https://www.gowerpublishing.com/pdf/SamplePages/Developing_Managing_Successful_Payment_Cards_Business_Ch2.pdf|target='_blank'] - based on data observed:2015-05-18