The process whereby a bank or financial institutionA financial institution is a regulated entity that offers financial services to individuals, companies, or governments. Examples include banks, credit unions, and investment firms. (also known as acquiring bank or acquirer) processes credit or debit cardA debit card is a payment card that’s linked to a bank account. This debit card allows the account holder to make purchases and withdraw funds when needed. Debit cards... transactions on behalf of a merchantA merchant is an individual or a business that sells goods or services to customers. Merchants are able to accept payments through multiple means, including cash, credit/debit cards, digital wallets..., enabling that merchantA business selling goods or services either in person (retailer) or remotely (website or mail order/telephone order) often accepting payment cards as a form of payment. to accept card payments for the purchase of goods and services.
