Who is acquiring bank
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The bank who acquires your assets
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A Bank which is again a member of an association – Visa / MasterCard and has arrangement with associations to settle the card payments with the issuing bank
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Bank which issues card to its customers
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All of the above
Reveal answer
Fill a bubble to check yourself
B
Correct answer
Explanation
In payment card systems, the acquiring bank (also called acquirer) is the bank that processes card payments on behalf of merchants. It is a member of card associations like Visa or MasterCard and has arrangements to settle payments with issuing banks. Option A describes an incorrect concept - acquirers don't acquire assets. Option C describes an issuing bank, which issues cards to customers. Therefore, Option B is the correct definition.