Acquirer
An acquirer (also known as an acquiring bank or merchant bank) is a financial institution that handles the technical and financial processing of card payments on behalf of the merchant. The acquirer establishes the connection between the merchant and the card networks (Visa, Mastercard).
In the payment process, the acquirer receives the authorisation request from the payment gateway, forwards it to the card network, and receives the approval or rejection from the issuer (the cardholder's bank). Following successful authorisation, the acquirer ensures that the transaction amount — minus the interchange fee and its own fee — is transferred to the merchant's account.
In Switzerland, companies such as Worldline (formerly SIX Payment Services), Nexi/Concardis, and various PSPs operate as acquirers. Some payment providers like Payrexx bundle acquiring into their service, meaning merchants do not need a separate acquirer contract.
Acquirer examples
An online shop concludes an acquiring contract in order to be able to accept Visa and Mastercard payments directly.
A PSP like Payrexx takes care of the acquiring as part of its all-in-one service — you as a merchant do not need a separate contract.
In the case of a card payment in the shop, the acquirer forwards the transaction to Visa or Mastercard via the POS terminal.
Acquirer FAQ
What is an acquirer in payment processing?
An acquirer is a financial institution that processes card payments on behalf of the merchant. It establishes the connection to the card networks (Visa, Mastercard) and ensures that the transaction amount is transferred to your merchant account.
Do you as a merchant need your own acquirer contract?
Not necessarily. Many PSPs (Payment Service Providers) bundle acquiring into their service. In this case, you enter into a single contract with the PSP, which handles the acquiring for you.
What is the difference between an acquirer and an issuer?
The acquirer processes the payment on the merchant side. The issuer is the bank that issued the card to the cardholder. During a card payment, the acquirer and issuer communicate with each other via the card network.
What fees does an acquirer charge?
The acquirer charges an acquirer margin (also known as Merchant Service Charge), which is typically between 0.20% and 0.50%. In addition, there is the interchange fee, which goes to the issuer, and the scheme fee to the card network.
Who are the largest acquirers in Switzerland?
The largest acquirers in Switzerland include Worldline (formerly SIX Payment Services), Nexi/Concardis and Adyen. In addition, PSPs such as Payrexx, Stripe and Datatrans offer integrated acquiring.
