What is acquiring?

Acquiring is a banking service that allows businesses to accept cashless payments via bank cards and the Mir Pay service on smartphones and other devices.

When a payment is received, the funds are first transferred to the acquiring bank and then credited to the company's current account.

There are two types of acquiring:

• merchant acquiring — accepting payments by card/smartphone via a terminal at the checkout or equipment used by a courier;
• internet acquiring — accepting online payments on the company's website or in the app.