Every card payment a business takes runs through an acquirer. The acquirer signs the business up to card schemes such as Visa and Mastercard and supports authorisation, clearing and settlement. It also makes sure the business follows scheme rules. Businesses with low card turnover sometimes contract with a payment facilitator instead, which uses an acquirer to reach the card schemes. The acquirer is still ultimately liable for chargebacks on those businesses.

What it costs

The acquirer charges a merchant service charge. The Payment Systems Regulator explains that this is made up of interchange fees paid to the card issuer, scheme fees paid to the card scheme and the acquirer’s own costs and margin. Interchange is capped at 0.2% of the payment for consumer debit cards and 0.3% for consumer credit cards where the issuer, the acquirer and the point of sale are all in the UK. Commercial cards are not capped. After Brexit, interchange on online payments with consumer cards issued in the EEA rose to 1.15% for debit and 1.5% for credit. The regulator is working on a cap. The High Court upheld its power to set one in January 2026.

Why acquirers watch travel businesses

• Under scheme rules the acquirer pays out on chargebacks and may not recover the money if a business fails. The regulator says businesses paid well before they deliver, such as airlines, carry a higher credit risk.

• The FCA notes that an acquirer can hold money due to a business for a period to allow for chargebacks before passing it on.

• In a 2021 consultation, the CAA said acquirers sometimes ask ATOL holders for extra security or change their terms, more often when they are worried about insolvency risk.

Worth knowing

The acquirer moves the money. A payment gateway only carries the card data, although some providers offer both.