Acquiring License

Applying for an Acquiring License

An acquiring license is a license that is issued by a major card issuer, like Visa, that allows a bank to acquire and clear transactions for debit and credit card processing. In order to obtain an acquiring license, you will first need to go through the bank license application process, once this is complete, you will then need to get your own payment gateway software. Once you have payment gateway software, you will need to find a certified organization that can evaluate your payment gateway software and give you PCI DSS certification.

Once you have a valid bank license and a PCI DSS certified gateway, you can then approach the major card issuers for an acquiring license. Unlike card issuing, where you can choose to approach the major card issuers that will most benefit your clients, with an acquiring license, it is better to approach the two largest acquiring license issuers, namely Visa International and MasterCard international, to obtain your own acquiring license. Once you have started the application process for an acquiring license from Visa and MasterCard, you can also decide if you wish to process more issuer’s cards, and approach American Express, JCB and Visa for Diners card processing.

Processing Credit and Debit Cards

Once your acquiring license application is successful, you will then need to connect your payment gateway and your banking software to the card issuers clearing software, so that all transactions that you acquire for are cleared through their payment processing system. You will need to do credit card processing using your payment gateway, which will be connected to your software, and will be connected to the clearing system of the card issuers into order to process the payment.

If you are interested in obtaining your banking license and an acquiring license, and you are ready to start the application procedure, please Contact Us.