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Cards and Payments - Part 2 - Role of a Merchant and Acquirer
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- Опубликовано: 7 авг 2024
- In this Video , I have discussed about the Role of a Merchant , Acquirer and Acquirer Processor in a bit detail. This is the second video of the Cards and Payments Understanding Series . Please see the first video on my channel as well . Hope you find this useful. Please leave your questions , comments and feedback in the comments section.Please like and share this video with your friends and colleagues who may find this useful
References :
www.pcisecuritystandards.org
en.wikipedia.org/wiki/Merchant
Master the Cards and Payments Domain! Enroll in my Udemy course using my referral link and boost your career today
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Very informative content. Will follow up more videos
Thank you. Glad you liked it. Please subscribe to the channel and also let you friends know who may be interested 🙏🏽
Awesome 👍
Really great video Saurabh - loving the payments series!
Really informative...Excellent
Very crisp and concise video!
Dear sir- great video!
Very helpful and informative. Thank you 🙏🏿
Very well explained. Thanks Saurabh.
Really great content for payment and card
I am really finding this very useful and learning from it.
Clear Explanation! Thank you!
Thanks for watching!
very neatly explained
Hello Saurabh,
Your videos are informative.
Waiting for videos on further topics in same domain.
Great video.. Saffron among parsley and cumins
informative
Thank you for such informative video. Keep posting new videos as I eagerly watch all your videos to gain knowledge.
Thank you . It’s your support that really motivates me to create this videos whenever I can :)
Thankyou so much....😀😀😀
Thanks for this, just following slowly very informative. Cheers.
Thank you if you found this channel useful please do share with your friends or colleagues who may also benefit 🙏🏽
Simplified explanation of an intricate concept. Great work!
Thank you 🙏🏽
@@ezeefied You videos are very helpful. Thank you for your efforts.
thanks for sharing,plz make more details about PCI for MANIC
Can you explain a bit more pls
Saurabh - The video is excellent. I have one query - you have given examples of acquirer as First Data, Wordpay etc. However where is the acquirer bank placed in the complete transaction chain? For example card is issued by ICICI Bank and the POS machine is supplied by SBI for the merchant. In this case the acquirer is SBI. Is it correct? Then what is the role played by First data or Wordpay?
Acquiring or merchant bank could be SBI but the processor is WorldPay .
@@ezeefied so is worldpay a card network or is it a further intermediary between the acquirer and the card network?
Good source of information. Thank you. Just a small correction, its "WorldPay" (in Acquirer page) NOT wordpay
thanks :) noted
Thanks for the info :)
Sometimes merchants are directly using payment processor, isn't it? eg. a shopkeeper doesn't have a POS but accepts google pay payment via mobile
I believe in this case, Google pay is also acting as an Acquirer to this Merchant.
I have an interview related to payments in a few days. Would you suggest any links/pages apart from your videos? I am new to payments and trying to get through the interview.
Sorry for the late reply . I was off for Diwali vacation. Since payments is huge I recommend focusing on specific areas related to your profile once you have gone through the basics . Most of the card provider companies have elaborative content on their webpages. Happy to help further if you need
Hi Saurabh, I have a question about the processing fee. Is the processing fee collected by Acquirer from the Merchant is indirectly borne by the Card Holder, correct ?
No. but unfortunately some merchants will ask for an additional 2% or something like that on top of the purchase price to offset which is not right
Hai Saurabh, if an issuing bank wants to roll out its point of sale (POS) machine in collaboration with a merchant. Who is responsible for outsourcing the Acquirer as well as the payment processor (PP)? thank you.
Merchant and acquirer usually work together in other words I as a merchant can choose my merchant bank and also the acquirer
@@ezeefied thank you
hello sir,is payment processor and service provider same?
Yes
Is stripe an acquirer?
Yes
This is very good explanation in very easy way I wants to know how much times its take to settle whole txn
Y. B
Khandelwal jaipur india
24 to 48 hours typically
ATM and POS comes under acquirers.
Am I right ?
ATM is different concept as it will depend on which card is used whether the issuers own or other at the atm
Is the acquirer a merchant bank, or could it be something else?
Merchant bank and acquiring bank are different
Hey :) really appreciate the content. Here's some constructive feedback. I think you have a lot of valuable information but the audio quality is really bad and makes it hard to listen to. Also, maybe try to be a bit quicker when talking and more engaging. :)
Thank you . Honestly , appreciate the feedback as it will help to improve the content . Surely I will work on those areas.
What is auth code brother
It’s a code that confirms that the transaction is authorised and approved . There are many other such codes that are there in entire payment life cycle .
@@ezeefied Hi brother did you handle any own projects or any part time works please tell me brother i am ready to do works and my financial situations not good . I ha e 5.6 years experience in Api testing funactional testing and i am experitse at postman, Accelq ,SoapUi . Not only these type works i can do any type works brother my final ambition is to earn money for living
@@y.c.breddy3153 pls send me your profile on LinkedIn . Find the link in video description . I will forward to HR team in case there is an opportunity
@@ezeefied okay brother thanks
The videos are pretty slow paced.
Watch at higher playback speed 🙏🏽