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

  • ACH

    Automated Clearing House - ACH is a reliable electronic funds transfer (EFT) system governed by National Automated Clearing House Association (NACHA).

    Learn More

  • 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...

    Learn More