Acquirers/Acquiring banks are registered members of a card network, such as MasterCard or Visa, and accept (or acquire) transactions on behalf of those debit and credit card networks, for a merchant. The card network connects acquiring banks to issuing banks so that a customer transaction can be verified. Whenever a cardholder uses a debit or credit card for a purchase, the acquiring bank will either approve or decline the transactions based on the information the card network and issuing bank have on record about that card holder’s account.
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In brief, we are inclined to go along with someone’s suggestion if we think that person is a credible expert (authority), if we regard him or her as a trusted friend (liking), if we feel we owe them one (reciprocity), or if doing so will be consistent with our beliefs or prior commitments (consistency). We are also inclined to make choices that we think are popular (consensus [social proof]), and that will net us a scarce commodity (scarcity).
Your content doesn’t necessarily have to be a blog post either. If you want, you can publish a podcast episode (audio content), or perhaps a video. The type of content you create is not super important. The important thing is that the content you create actually helps your target market. Try to create the best piece of content on the web about that specific problem that you identified in Step 1.
A merchant must work with an acquiring bank to apply for and receive a merchant account – an account that allows the merchant to accept credit and debit cards – to be able to start selling and receiving payments from shoppers. You’re probably wondering what an acquiring bank is – well, it’s a bank or financial institution that is a registered member of a card network, such as Visa or MasterCard, and accepts (or acquires) transactions for merchants, on behalf of the debit and credit card networks. We’ll cover this in more detail later in this blog post.
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