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Contact-Free Payment
Contact-free payments are transactions processed in a manner that removes the physical interaction between the purchaser and the merchant. A contract-free payment can be accomplished through a...
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Acquirer
An acquirer is a bank that processes credit and debit card transactions for a merchant.
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ODFI (Originating Depository Financial Institution)
Financial institutions that originate ACH transactions on behalf of its customers. ODFI's must abide by the National Automated Clearing House Association (NACHA) Operating Rules.
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