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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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Business Day
Refers to any weekday with the exception of federal holidays.
Related Terms
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EFTA (Electronic Fund Transfer Act)
The Electronic Fund Transfer Act establishes the rights and liabilities of consumers in addition to the responsibilities of anyone who participates in electronic funds transfers.
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