acquirer n
1. a person who acquires something (usually permanently)
2. a bank gaining financial control over another financial institution through a payment in cash or an exchange of stock
3. the financial institution that dispenses cash in automated teller machines and collects a fee from the bank that issued the credit card
4. a credit card processing bank; merchants receive credit for credit card receipts less a processing fee [syn: merchant bank}]

Acquirer \Ac*quir"er\, n. A person who acquires.

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An acquirer (or acquiring bank) is a member of a card association, for example MasterCard and/or Visa, which maintains merchant relationships and receives all bankcard transactions from the merchant.

Acquirers charge the merchants fees which include: a monthly rent for the EFTPOS terminal (if it is not owned by the merchant) which is usually equivalent to around 10 to 30 USD monthly, a percentage fee on their transactions (which varies from country to country, for example in Poland it ranges from 1.8% to 2.5%, regardless of whether the card is debit or credit, in USA and many Western Europe countries the fee is often much lower for debit card transactions, than for those with credit cards), and sometimes--especially in the countries where fees for debit card transactions are much lower--an additional fixed fee per transaction, which ranges from 10 to 20 cents).

• CUMIS Acquirer Buys Another Canadian Insurance Firm - Credit Union Times
  The Co-operators Life Insurance Co., which bought CUMIS Group Ltd. in 2009, has announced its plans to acquire another Canadian credit union insurance subsidiary. The Co-operators said it has plans to buy G&F Financial Group’s general assets ... Read more on this news related to 'Acquirer'
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• Terreno Realty Corporation to Participate in UBS Industrial Real Estate Summit - Yahoo Finance
  Terreno Realty Corporation (NYSE:TRNO - News), an acquirer, owner and operator of industrial real estate located in six major coastal U.S. markets, today announced that W. Blake Baird, Chief Executive Officer, is scheduled to participate in the ... Read more on this news related to 'Acquirer'