merchant acquiring entity
Defined in 1 place of the United States Code.
The term “merchant acquiring entity” means the bank or other organization which has the contractual obligation to make payment to participating payees in settlement of payment card transactions.
Source
- 2008–present26 U.S.C. § 6050WInternal Revenue Code · Returns relating to payments made in settlement of payment card and third party network transactions · for purposes of this section