There is no binding definition of the term “acquiring”. In the past, acquiring was used to describe the acquisition of merchants for the acceptance of MasterCard and Visa payment cards. According to this interpretation, acquiring also includes the processing of payments by means of such cards, starting with the submission to MasterCard and Visa up to the settlement of the payment amount.
Today, the term acquiring is increasingly used to describe the acquisition business. According to this interpretation, acquiring includes the collection of payments for payees (usually merchants), regardless of the payment method used for the payment. This interpretation also includes, for example, the acceptance of credit transfers and direct debit payments as well as payments via electronic cash and alternative payment methods such as Alipay or WeChatPay.