All You Need to Know About Acquiring Bank Partnerships

If you wish to provide payment gateway services to multiple sub-merchants, you should know more about what an acquiring bank is and the role it plays to process your transactions. Apart from the payment gateway software, you will also have to find an acquiring bank that will carry out the transaction on behalf of your merchants. There are several factors that you will have to consider before selecting a particular acquiring bank as they process all the transactions on your behalf.

Acquiring bank is also known as merchant bank and they underwrite you, which is certainly a risk by itself. Hence, you will have to ensure that the acquiring bank supports the MCC codes that are a part of a your sub-merchant and you will have to ensure that they have verification and authentication steps in their areas of operations, as you will be underwritten for all the transactions. You will have to know that there also needs to be integration between your payment processing system and an acquiring bank or merchant bank. If you wish to know more regarding acquiring banks, you can read more about it on our website or contact us. 

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