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

  • Consumer Account

    An account held at a development financial institution (DFI) which has been opened by a natural person and is used for personal needs.

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  • Regulation E (Reg-E)

    Regulation E details procedures for the processing of electronic funds transfers (EFTs) in addition to debit cards.

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