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Complete Definition of "acquiring financial institution"

English

Noun
en-noun

  1. An acquiring financial institution (or "acquirer") contracts with the bank and the merchant to enable credit card transactions. The acquirer deposits the credit card totals and debits the end-of-month processing fees from the merchants' accounts. Abbreviated: AFI.

References
http://www.revtrak.com/glossary.htm

ru:acquiring financial institution

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