What is acquiring?

Acquiring is a banking service that allows businesses to accept payments by cards, smartphones, and other devices. When a payment is made, the buyer transfers money to the acquiring bank, which then credits it to the seller's current account.

There are two main types of acquiring:

• Merchant acquiring. Allows payments to be made through terminals installed at the checkout.
• Internet acquiring. Suitable for accepting online payments on the company's website or in its app.