This site uses cookies. Some of these cookies are essential to the operation of the site, while others help to improve your experience by providing insights into how the site is being used. For more information, please see the ProZ.com privacy policy.
Cookie settings
  1. KudoZ™ Top
  2. Italian to English
  3. Law: Taxation & Customs

acquirer sovraordinato

English translation: the higher level acquirer

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Italian term or phrase:acquirer sovraordinato
English translation:the higher level acquirer
Entered by: EirTranslations

14:12 Jan 2, 2016
Italian to English translations [PRO]
Law/Patents - Law: Taxation & Customs / Counterclaim
Italian term or phrase: acquirer sovraordinato
For a law suit regarding VAT treatment and credit cards, see below thanks (simply the appointed acquirer??) thanks

e) i titolari della carta, vale a dire coloro che utilizzano una carta di credito del circuito (credit card company) come strumento di pagamento.

Ogni qual volta i titolari effettuano presso gli esercenti convenzionati l’acquisto di beni e servizi con carta di credito, si attivano dei flussi di pagamento nell’ambito dei quali ciascuno dei soggetti suindicati svolge una specifica funzione.

In particolare, l’esercente convenzionato eroga al titolare della carta il bene o il servizio acquistato e riceve il pagamento del corrispettivo dall’acquirer (ossia, company 1).

A fronte di tale pagamento, company 1addebita una commissione, la quale viene di fatto decurtata – alla stregua di una ritenuta fiscale – dall’importo versato.

A sua volta, company 1 riceve da company 2.
(il gestore del network, che funge in pratica da acquirer sovraordinato) l’ammontare versato dal primo a favore del commerciante convenzionato, corrispondente all’ammontare speso dal titolare della carta, al netto di una commissione (anch’essa solitamente trattenuta dall’importo versato) di spettanza del gestore del network per il servizio di pagamento reso nei confronti dell’acquirer.
EirTranslations
Ireland
Local time: 11:46
the higher level acquirer
Explanation:
The acquirer is the merchant's bank, company two is the credit card association (eg. Visa) which is the intermediary between the acquiring bank and company three (not mentioned here) the issuing bank (customer's bank). The author here has chosen to call the credit card association which clears the transactions a "higher level acquirer". What I have described is the theoretical standard system. In different countries and different associations more than just three entities may be involved. Perhaps this is why company 2 has been described as a type of acquirer, it the real intermediary is at a still higher level with four or more parties involved. Alternatively the author (probably a lawyer, rather than a banker) has not fully grasped the situation or wants to put a legal slant on it.

--------------------------------------------------
Note added at 14 hrs (2016-01-03 04:54:11 GMT)
--------------------------------------------------

Correction "as a type of acquirer, if the real intermediary"
Selected response from:

James (Jim) Davis
Seychelles
Local time: 14:46
Grading comment
thx
4 KudoZ points were awarded for this answer



Summary of answers provided
3 +1Upstream; higher rated; higher ranking
Andrew Bramhall
4the higher level acquirer
James (Jim) Davis


Discussion entries: 1





  

Answers


45 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +1
Upstream; higher rated; higher ranking


Explanation:
Higher level acquirer

Andrew Bramhall
United Kingdom
Local time: 11:46
Native speaker of: Native in EnglishEnglish
PRO pts in category: 11

Peer comments on this answer (and responses from the answerer)
agree  Peter Cox
3 days 15 hrs
  -> Thanks
Login to enter a peer comment (or grade)

14 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
the higher level acquirer


Explanation:
The acquirer is the merchant's bank, company two is the credit card association (eg. Visa) which is the intermediary between the acquiring bank and company three (not mentioned here) the issuing bank (customer's bank). The author here has chosen to call the credit card association which clears the transactions a "higher level acquirer". What I have described is the theoretical standard system. In different countries and different associations more than just three entities may be involved. Perhaps this is why company 2 has been described as a type of acquirer, it the real intermediary is at a still higher level with four or more parties involved. Alternatively the author (probably a lawyer, rather than a banker) has not fully grasped the situation or wants to put a legal slant on it.

--------------------------------------------------
Note added at 14 hrs (2016-01-03 04:54:11 GMT)
--------------------------------------------------

Correction "as a type of acquirer, if the real intermediary"

James (Jim) Davis
Seychelles
Local time: 14:46
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 299
Grading comment
thx
Login to enter a peer comment (or grade)



Login or register (free and only takes a few minutes) to participate in this question.

You will also have access to many other tools and opportunities designed for those who have language-related jobs (or are passionate about them). Participation is free and the site has a strict confidentiality policy.

Return to KudoZ list

KudoZ™ translation help

The KudoZ network provides a framework for translators and others to assist each other with translations or explanations of terms and short phrases.

See also:
ProZ.com term search
Search millions of term translations
Close search
Term search
  • All of ProZ.com
  • Term search
  • Jobs
  • Forums
  • Multiple search