Merchant Account

An account opened through a payment processor or financial institution that allows payees to accept credit card payments from a payer.

Related Terms

  • Authorizations (Card Processing)

    All transactions must be authorized via terminal, cash register, voice authorization, or automated voice response phone system (IVR).

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  • HIPPA (Health Insurance Portability and Accountability Act)

    The Health Insurance Portability and Accountability Act attempts to fight again abuse, fraud and waste within health insurance and general health care delivery.

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