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Merchant Account
An account opened through a payment processor or financial institution that allows payees to accept credit card payments from a payer.
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SHR (Shared Network Transaction)
A one time debit entry to the account of a receiver where the entry is initiated at an electronic terminal. The entry is initiated into a shared network where the originating depository financial institution (ODFI) and receiving depository financial institution (RDFI) have an agreement.
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NACHA (National Automated Clearing House Association – The Electronic Payments Association)
The national trade association responsible for developing and enforcing ACH rules and guidelines.
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