Definitions for "Acquiring Processor"
The processor provides credit card processing, billing, reporting and settlement, and operational services to the acquirer. Many financial institutions hire a third party for more cost-effective bankcard processing.
The processor provides credit card processing, billing, reporting and settlement and operational services to acquiring banks. Many financial institutions don't do their own bankcard processing because it's more cost-effective to let someone like EDPS S.A. invest in the equipment and people and do it for them.
The processor provides credit card processing, billing, reporting, settlement and operational services to acquiring and issuing banks. Many financial institutions don't do their own bankcard processing because it's more cost effective to let the processor invest in the equipment and people and do the job for them.