Merchant Account

An account opened through a payment processor or financial institution that allows payees to accept credit card payments from a payer.

Related Terms

  • Business Day

    Refers to any weekday with the exception of federal holidays.

    Learn More
  • 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.

    Learn More