What is acquiring?

Acquiring is a banking service that allows businesses to accept cashless payments. Customers can pay with bank cards, as well as by phone or other devices via Mir Pay.

When paying via a terminal, the funds are first received by the acquiring bank and then transferred to the seller's current account.

There are two main types of acquiring:

• Merchant acquiring — card payment via a terminal in a store or with a courier;
• Internet acquiring — accepting payments on the company's website.