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FISMA (Federal Information Security Management Act)
The Federal Information Security Management Act requires all federal agencies to implement cybersecurity programs to protect the information from unauthorized access.
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Discount Rate
Merchants are charged a fee for the processing services that enable them to accept cards as payment. This fee, called the “merchant discount” or “discount rate,” is negotiated with each merchant during the sales process. The discount rate is usually a percentage of the merchant’s sales volume.
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Settlement Date
The date an exchange of funds will be reflected on the books of the Federal Reserve Bank.
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