What Are The Payment Acquirers And What They Do?
Payment acquirers are generally Financial Institutions who collects the debit cards or credit cards payments that are being done at the point of sale of the retailer and then aggregate them. After the payments aggregating (which can also be done by a third party aggregator), these transactions are forwarded towards the interchange card issuer. Then these payments are debited from the cardholder, and the funds are transferred to the payment acquirers who then settle these payments into the merchant’s bank account.
Why Choose Quadrapay Recommended Partners As Payment Acquirers?
Every retailer faces several types of challenges day by day because of the customers. We always performe the best in the payment industry with a wide span of payment networks across the world. Some of the benefits we offer as payment acquirers are:
- Full transparency of structured processing fee rates
- Helps you to increase your sales as we take care of the mix payments and conversion rate.
- It is secured with PCI compliance and safety standards.
- All relevant solutions for your payments with only a single contract.
How Much Time Quadrapay Payment Acquirers Take For The Settlement Of Payments?
Generally, a complete cycle of the transaction initiated from customer card to then finally settled to the merchant’s bank account can be within 48 hours of the operation, but for some cases, it can take around usually 3-4 days, and this depends on the agreement between the retailer and the payment acquirers. There is no contractual relationship between a retailer and the card issuer. The whole cycle of settlement contains such contracts:
- Contract of Cardholder to the issuing bank
- Contract of issuing bank to the card scheme
- Agreement of card scheme to the Quadrapay partners “the payment acquirers”.
- Quadrapay payment acquirer partners contracts with the merchant
What About The Security?
Our payment acquirer partners handle all the transactions following all the security protocols and takes the responsibility of your all transactions in the exchange of the nominal acquirer processing fee. But as the transactions that are being done only usually contain high-risk sensitive pieces of information. So the acquiring bank and other contracts involved in the transaction cycle should follow the Payment Card Industry Data Security Standard and other essential safety measures to prevent the chances of frauds.
We are always happy to assist you regarding acquirer payment processing at [email protected].