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

  • OFAC (Office of Foreign Asset Control)

    The part of the US Treasury Department responsible for enforcing United States economic and trade sanctions.

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  • Virtual Terminal

    A virtual terminal enables the ability to accept electronic credit card, debit card, and ACH transactions over nearly any Internet-enabled device. Learn More

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