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E-Check (or echeck)
E-Check payments are ACH payments that originate via the internet, telephone, point-of-sale (POS), or bill payment sent through the mail or unattended lockbox. For mail and lockbox...
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Business Day
Refers to any weekday with the exception of federal holidays.
Related Terms
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Interchange
Interchange is a small fee paid by a merchant's bank (acquirer) to a cardholder's bank (issuer) to compensate the issuer for the value and benefits that merchants...
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