Delivering on the Internet’s Promise for Global E-Commerce Reach
Delivering on the Internet’s Promise for Global E-Commerce Reach
3 Pages©Hazelcast | 2 W 5th Ave, Ste 300, San Mateo, CA 94402 | USA | 1 650.521.5453 | hazelcast.com Introduction There are many components that make up today’s one trillion-dollar e-commerce market. One notable player is the acquiring bank. Acquiring banks are playing more significant roles as they continue bringing many more e-commerce merchants to market. Also known as “acquirers,” these banks (or other financial institutions) process credit/debit card payments for merchants. In other words, acquiring banks give merchants the ability to accept card payments from the card-issuing banks within a “bank card association” (e.g., Visa, Mastercard, Discover, etc.). Acquiring banks work on behalf of sellers, in contrast to the card-issuing banks which work on behalf of buyers. Since all of th
