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Basic products and features

To start accepting cards, apart from having a merchant service agreement with an acquirer, the merchant will need a terminal that connects to the acquirer to process a card transaction.

In the majority of cases, the terminal will provide an authorisation when a transaction is processed. This confirms at that time that the card used has not been reported as lost or stolen and that there are sufficient funds available in the cardholder’s account to make the purchase. However, this is not a guarantee that the transaction will ultimately be paid as it may be charged back due to a variety of reasons.

An acquirer will manage the accepted card payments; placing the money or funds for, say, a card present transaction, into the merchant’s account, typically within four working days after the transaction has been processed.

A merchant can find out about the range of other services an acquirer can provide in the Terminals section of this site.

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