Acquiring Bank means a financial institution that receives credit card transactions and then settles with the card-issuing banks.
Acquiring Bank means a bank or financial institution that processes the transaction payment which the Card is used for or on behalf of a Partner Merchant;
Acquiring Bank means a financial institution that accepts or acquires payment transactions from a card issued by itself or another financial institution.
Examples of Acquiring Bank in a sentence
The assignment of the MCC for a Partner Merchant is subject to classification by such Partner Merchant’s Acquiring Bank that is providing the credit card terminal.
It is the responsibility of the particular Acquiring Bank to assign the correct MCC.
RHB Bank will not be responsible for any non-posting of any Reward Points for any Eligible Overseas Retail Purchases and/or Eligible Local Retail Purchases due to any incorrect assignment of the MCC by any Partner Merchant’s Acquiring Bank, unless such incorrect assignment of the MCC and/or such non- posting of the Reward Points is/are due to the act, omission, default, negligence and/or misconduct on the part of RHB Bank and/or any of its employees, representatives and agents.
More Definitions of Acquiring Bank
Acquiring Bank means the entity that initiates and maintains relationships with Merchants for the acceptance of a Credit Card.
Acquiring Bank means each of the financial institutions PayPal partners with to process your Card payments, including your Direct Payments and VT Payments, and each of your Card funded PayPal Checkout payments, and with whom you entered into a Commercial Entity Agreement.
Acquiring Bank means a bank or financial institution that accepts credit and/or debit payments (including credit cards, debit cards, stored value cards and pre-paid cards) for products or services on behalf of a merchant, including processing and crediting those payments to a merchant.
Acquiring Bank means a participating bank that is appointed by a Seller to facilitate the Seller’s collection of online payments via FPX. The Acquiring Bank validates the crediting request received from FPX system and credits payments to the Seller’s bank account
Acquiring Bank means a Person authorized by a General Purpose Card Network to enter into agreements with Merchants to accept that Network’s General Purpose Cards as payment for goods or services.
Acquiring Bank means the bank or financial institution that processes payments for You;
Acquiring Bank means a Person authorized by MasterCard or Visa to enter into agreements with Merchants to accept MasterCard’s or Visa’s General Purpose Cards as payment for goods or services.