-
Merchant Account
An account opened through a payment processor or financial institution that allows payees to accept credit card payments from a payer.
Learn More -
MICR (Magnetic Ink Character Recognition)
The information printed on a check in magnetic ink. The MICR information helps MICR scanners retrieve important information from the check including the routing number, account number...
Learn More
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 receive when they accept electronic payments.
