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An acquiring bank (also known simply as an acquirer) is a bank or financial institution that processes credit or debit card payments on behalf of a merchant. [ 1 ] The acquirer allows merchants to accept credit card payments from the card-issuing banks within a card association, such as Visa , MasterCard , Discover , China UnionPay , American ...
Finaro (the trading name of Credorax, Inc.), is an Israel-based online merchant acquiring bank and payment service provider (PSP). Established in 2007 by Benny Nachman, the company operates in the European Union, United States, and China. In October 2023 Finaro was acquired by Shift4 and now operates under the Shift4 brand name.
An issuing bank (also called an issuer) is part of the 4-party model of payments. [2] It is the bank of the consumer (also called a cardholder) and is responsible for paying the merchant's bank (called an Acquiring Bank or Acquirer) for the goods and services the consumer purchases. It issues the payment card and holds the account with the ...
Chase Paymentech is an American payment service provider and merchant acquiring business that is part of JPMorgan Chase. Paymentech payment platforms supports businesses to process payments. In addition to its payment services the company provides associated business services such as analytics, payment fraud detection, and data security.
A merchant account is a type of bank account that allows businesses to accept payments in multiple ways, typically debit or credit cards. A merchant account is established under an agreement between an acceptor and a merchant acquiring bank for the settlement of payment card transactions. In some cases a payment processor, independent sales ...
Berks County Trust Company. Wyomissing Valley Bank, Temple State Bank, Mount Penn Trust Company, Reamstown Exchange Bank, Schuylkill Trust Company. Berks County Trust Company (1964 as American Bank and Trust Co or American Bankcorp) Wells Fargo. 1964. National Bank of Commerce. Texas National Bank.
On Feb. 19, Capital One announced that it’s acquiring Discover Financial Services for $35.3 billion which, if approved, would make it the fifth largest U.S. bank. As of last December, Capital ...
Interchange fee is a term used in the payment card industry to describe a fee paid between banks for the acceptance of card-based transactions. Usually for sales/services transactions it is a fee that a merchant's bank (the "acquiring bank") pays a customer's bank (the "issuing bank"). In a credit card or debit card transaction, the card ...