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

  • MICR (Magnetic Ink Character Recognition)

    The information printed on a check in magnetic ink. The MICR information helps MICR scanners retrieve important information from the check including the routing number, account number...

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  • TLS (Transport Layer Security)

    TLS refers to a cryptographic protocol to secure information sent over a computer data network. Connections using TLS typically have multiple authentication methods in place to secure...

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