Acquiring is a payment service that lets a business accept payment by card and other payment instruments: the acquirer transfers the money to the merchant.
In plain words
A shop or online service signs a contract with a bank or payment company (the acquirer) and sets up a terminal or an online checkout. The customer pays by card, the acquirer receives the funds and credits the seller minus the acquiring fee. Under the Ukrainian law on payment services it is a separate licensed service; merely supplying or servicing terminals does not count as acquiring. The size of the fee is affected by interchange.
Sources
- Law of Ukraine “On Payment Services” No. 1591-IX of 30 June 2021 — Art. 1 (items 10, 11, 89), Art. 37 (version of 26 June 2026). Checked 14.10.2026.
Example. A café run by a sole proprietor connects an acquirer’s terminal. The guest pays for coffee by card, and the café receives the receipt amount minus the acquirer’s fee, not at the moment of payment but under the contract terms.