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

  • Surcharge

    A surcharge is an extra fee that’s added to the regular total amount.

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  • UDAP (Unfair or Deceptive Acts or Practices)

    Unfair or Deceptive Acts of Practices (UDAP) is a collection of rules for banking regulations, aiming to protect credit card users while adding to card-related disclosures.

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