As Europe's largest Merchant Service Provider, Paymentsense is committed to providing you with the highest quality customer experience at the best possible value.
To ensure we are able to meet this commitment, we partner with industry leading organisations to deliver the most cost-efficient service. In view of this you will receive communication from your acquiring bank and terminal lease provider.
- UK - First Data Merchant Solutions (FDMS) OR Global Payments
- ROI - Valitor
Terminal lease providers
- UK - First Data Global Leasing OR Paytek
- ROI - First Data Global Leasing
Check your Merchant Services Agreement to confirm the providers on your account.
Other parties involved in card processing
The merchant is the business that accepts credit or debit cards as payment from customers (or cardholders in this instance) for goods or services they provide.
The cardholder is someone who pays for goods or services with a credit or debit card. The card is provided to them by their bank (the issuing bank).
As well as providing debit or credit cards to their account holders the issuing bank is also a member of the card associations (Visa and MasterCard). Issuing banks pay acquiring banks for purchases that their cardholders make.
An acquiring bank (sometimes called the merchant bank), acts as the banking partner for the merchant, allowing them to accept credit and debit cards. Acquiring banks provide the merchant with the card readers and software and also handle things like customer service. The acquiring bank will also deposit funds from credit card sales into the merchant’s account. This is mostly done behind the scenes, so the merchant has virtually no dealings with the acquiring bank. It’s not to be confused with a business bank account…
Business Bank Account
Much like a personal or current account, a business bank account is a legal requirement for businesses. They can be opened with a high street or commercial bank and are opened in the name of the company, enabling the owner to keep their business transactions separate from their own personal money.
You’ll always see either a Visa or a MasterCard logo on all credit and debit cards. But what exactly are they? Well, they’re not banks so they can’t issue credit cards or bank accounts. Instead, they are card associations which are a network of issuing banks and acquiring banks that process card payments. They maintain and improve the card network, acting as an arbiter between the issuing and acquiring banks and manage their own brands.