The acquiring bank is the main participant in the acquiring business, responsible for signing contracts with special merchants, installing and maintaining machines and tools, and settling and transferring funds. Before the emergence of third-party information transfer agencies, all the work of acquiring business was undertaken by acquiring banks alone. With the extension and subdivision of the acquiring industry chain, more and more specialized service providers join the acquiring industry.

Issuer (credit card issuer)

The issuing bank refers to the issuing bank of the credit card held by the cardholder in the acquiring business.

Example: Take the credit card as an example, pay the merchant according to the above amount, sign and leave. When the acquiring institution received your purchase order. Merchants get the money they deserve, otherwise banks and UnionPay will have no money to earn. The merchant leaves your signed shopping list, and you swipe your card to buy things. In fact, the whole process of swiping your card is realized through UnionPay, a shared intermediate link network, and then it is handed over to the bank that sends it to the card swiping machine, that is, the acquiring bank. The acquiring institution then asks the issuing bank for money through the UnionPay platform, and there is a handling fee for each link. Just return the money to the issuing bank. Of course it's not that simple.

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I. Definition of Bill Receipt Business

Bill acquiring business refers to the cardholder's direct consumption in special merchants, cash withdrawal at designated business outlets, and the resulting authorization, liquidation, loss reporting, refusal to pay, etc. Bill receipt business in a broad sense includes counter cash withdrawal, ATM cash withdrawal and consumer bill receipt, while bill receipt in a narrow sense refers to consumer bill receipt. In China, ticket collection business is divided into internal card ticket collection and foreign card ticket collection. The internal card refers to the bank card based on RMB account issued by banks in People's Republic of China (PRC), and the external card refers to the bank card based on foreign currency account issued by overseas banks or overseas credit card companies, which can be used worldwide.

Second, a single business process

1, develop merchants

Finding the right special merchants is the beginning and the most important link of the receipt. Merchants with good reputation and large business volume can not only create considerable income for acquiring banks, but also avoid unnecessary troubles such as merchant fraud risk, cashier's operational mistakes and customer complaints. Both parties can take the acquiring business as an opportunity to deepen cooperation and provide support for other businesses.

2. Installation of machines and tools and training of businessmen

Common cash registers include POS machines, manual credit cards and password keyboards. Some large merchants will transform the original cashier system or merchant management system to increase the function of credit card consumption.