What is the primary role of acquirers in payment processing?

The primary role of acquirers in payment processing is to process transaction data from merchants. Acquirers, also known as acquiring banks, act as intermediaries between merchants and card networks such as Visa or MasterCard. When a customer makes a purchase using a credit or debit card, the acquirer is responsible for facilitating the transaction by capturing and processing the payment data, ensuring it is sent to the appropriate card network for authorization.

Once the authorization is received, the acquirer then manages the transaction settlement, which involves transferring funds from the customer's bank to the merchant. This role is critical in ensuring that transactions are completed smoothly and efficiently, which is essential for maintaining trust in the payment system.

The other choices, while related to the payment ecosystem, do not accurately describe the primary role of acquirers. Customer support is typically provided by merchants or payment processors directly to their customers. Underwriting payment card transactions is a function usually associated with card issuers, assessing the risk involved before credit or debit card approval. Issuing payment cards to cardholders falls under the responsibilities of issuing banks, which provide customers with the actual cards for use in transactions. Thus, the focus of acquirers is primarily on processing transaction data from merchants, solidifying their