How acquirers, ISOs, sponsor banks and gateways divide responsibility — and where merchant leverage actually sits.
This paper is part of the initial Greyhaven Intelligence series. Full editorial copy is pending — the structure, metadata and routing are in place so research can be published without further engineering work.
Each piece is written to be useful to an operator making a decision: what the constraint actually is, how acquirers and banks evaluate it, and what to change first.