What is acquiring?

Acquiring is a service for accepting cashless payments that allows customers to pay for purchases with bank cards, as well as via Mir Pay on smartphones and other devices.

When paying through a payment terminal, the money is first credited to the acquiring bank and then transferred to the seller's current account.

There are two types of acquiring:

• Merchant acquiring — card payment through a terminal at the checkout or to a courier.
• Internet acquiring — accepting online payments through the company's website.