Payments language demystified.

A financial institution or payment processor like Finix responsible for securely facilitating card payments on behalf of merchants. They also handle aspects like risk management, fraud prevention, and settlement of payments, making them critical players in the payments ecosystem. The Acquirer Agreement Formalizes the relationship between a payment facilitator, ISV, or ISO and an acquiring bank. This contract defines the terms for payment processing, including transaction pricing, service-level agreements (SLAs), liability distribution, and any value-added services. A well-negotiated acquirer agreement is crucial for optimizing transaction costs and ensuring smooth payment operations.