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Definition of acquiring financial institutions in English English dictionary
- plural form of acquiring financial institution
- acquiring financial institution
- An acquiring financial institution (or "acquirer") contracts with the bank and the merchant to enable credit card transactions. The acquirer deposits the credit card totals and debits the end-of-month processing fees from the merchants' accounts. Abbreviated: AFI
Related Terms
acquiring financial institutions
Hyphenation
ac·quir·ing fi·nan·cial institutionsTurkish pronunciation
ıkwayrîng fınänşıl înstîtuşınzPronunciation
/əˈkwīrəɴɢ fəˈnansʜəl ˌənstəˈto͞osʜənz/ /əˈkwaɪrɪŋ fəˈnænʃəl ˌɪnstɪˈtuːʃənz/
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