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What is a merchant acquirer

A merchant acquirer, often referred to simply as an "acquirer," is a financial institution or a third-party company that processes credit or debit card transactions on behalf of a merchant. When a customer makes a purchase using a card, the merchant submits the transaction details to the acquirer for processing. The acquirer then communicates with the card network (such as Visa, Mastercard, etc.) to authorize the transaction and transfer funds from the customer's account to the merchant's account. Additionally, the acquirer manages various aspects of payment processing for merchants, including handling disputes, providing reporting and analytics, and ensuring compliance with industry regulations and security standards like PCI DSS (Payment Card Industry Data Security Standard).