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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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Merchant
A merchant is business that exchanges goods for monetary funds.
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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