Banking as a Service

Full Title or Meme

Banking as a Service is a product offered to merchants to handle transactions.

Context

From the beginning of back credit cards, the merchants would select a bank to act as an acquirer for credit card transactions. The acquirer banks typically contracted with a server provider like First Data to handle the details for them.

Solutions

The accounting companies offer a server to evaluate service like Banking as a Service, Explained | Deloitte Digital