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

  • Check-by-Phone

    Check by Phone or "checks by phone" is the patented process of recreating and printing a check without having the original paper check. Check by Phone payments...

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  • Settlement Date

    The date an exchange of funds will be reflected on the books of the Federal Reserve Bank.

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