What is an acquirer?

What is an acquirer? The world of payment solutions can be a jungle of different expressions that you have to consider when choosing the right payment solution. What is what, and how do you deal with the technical aspects of these?

What does acquirer mean?

If you want to receive payments from Visa Dankort, VISA, MasterCard, Diners Club, AMEX or one of the other international cards, you have to have an agreement with an acquirer.

An acquirer is a company that connects the financial agreement of your webshop with the card issuers.

In short – the acquirer makes sure that your webshop is able to receive payments from cards.

The fees are difficult

When you as a business owner work with an acquirer it is important to have studies the structure of the fees.

The structure most often follows the same pattern, but almost all acquirers have fees there are well hidden within the signed agreement.

Be aware

It is always a good idea to read through the agreement that you are about to make with a payment solution.

In the case of Yourpay, we have a section in our terms and conditions, which allows us to actively withhold means, if we suspect that you as a business owner aren’t acting in accordance with the law. We can do this retrospectively.

As a normal business owner, this section will be of no worry to you.

For business owners, who work within a more risky line of business, we always inform them of this, as this is a risk method different to that of most acquirers.

Can I do without?

You can do without an acquirer, when you do business, but it naturally comes with limitations.

If you think that the whole thing with acquirers is too troublesome, then take a look at the way Yourpay’s agreements are set up. We have one single fee that covers all costs and therefore, there are no uncomfortable surprises for you.

If you choose to do business without an acquirer, you won’t be able to accept card payments, but you can still accept cash and bak transfers.

Is Yourpay an acquirer?

Yourpay is not an acquirer is a historical sense. Historically, an acquirer is the one administrating the relationship with Visa and MasterCard.

Yourpay is what is called a Payment Facilitator, and therefore we work with one or more acquirers, in handling the payments.

That means that there are one set of rules for the acquirers and one for the Payment Facilitators.

For you as a merchant is has no pratical meaning. It also means that the agreements that you can get through Yourpay will be on the same level, if not better than the agreements you can get with the acquirers, since the Payment Facilitator rule set allows for more flexibility.

Which acquirers are there?

There are hundreds of acquirers in Europe.

In Denmark the most well known are Handelsbanken, Nets, Bambora og Clearhaus.

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