Acquiring Bank vs Issuing Bank: What's the Difference?

Acquiring Banks and Issuing Banks are involved in every purchase, refund and chargeback. They're both highly significant to your business, so it's pretty important to understand what they are.

🏦 The Acquiring Bank (acquirer) is associated with you and your merchant account. It links up with your payment processor and allows you to run transactions and accept payments.

🏦 The Issuing Bank (issuer) is associated with your customer. It issues the credit or debit card that your customer uses to make a purchase & also makes sure that they have sufficient funds in their account to actually make the purchase.

Stay tuned to learn more about what they do and how they impact your financial success! 💸

#paymentprocessing #issuingbank #acquiringbank #merchantaccount

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Additional Resources
Issuing Bank vs. Acquiring Bank: What’s the Difference? ➡️ https://paymentcloudinc.com/blog/acqu...
Credit Card Issuers & Card Networks: Understanding Key Differences ➡️ https://paymentcloudinc.com/blog/cred...
How to Accept Payments: The Complete Guide for 2023 ➡️ https://paymentcloudinc.com/blog/acce...
What is Payment Processing and How Does it Work? ➡️ https://paymentcloudinc.com/blog/paym...
What is a Payment Service Provider or PSP? ➡️ https://paymentcloudinc.com/blog/paym...
What Is a Payment Gateway? ➡️ https://paymentcloudinc.com/blog/paym...

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Apply for a merchant account with ☁️PaymentCloud☁️ ➡️ https://paymentcloudinc.com/apply/?ti...

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0:00 - Intro
0:30 - Define Acquiring Bank & Issuing Bank
0:57 - Roles in a transaction
1:40 - Choosing the right Acquiring Bank
2:22 - Misconceptions about Acquiring Banks


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