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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...
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RCK (Re-presented Check)
An additional presentment of an eligible returned paper check through the ACH network.
Related Terms
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Existing Relationship
There is an existing relationship between an originator and a receiver when there is either a written agreement in place or when the receiver has purchased goods...
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