Payment Glossary

Acquirer

An acquirer is a bank that processes credit and debit card transactions for a merchant.

Related Terms

  • E-Check (or echeck)

    E-Check payments are ACH payments that originate via the internet, telephone, point-of-sale (POS), or bill payment sent through the mail or unattended lockbox. For mail and lockbox...

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  • MICR (Magnetic Ink Character Recognition)

    Magnetic Ink Character Recognition refers to the recognition of the numbers that are typically found at the bottom of checks. Once recognized, the numbers can automatically be...

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