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Merchant Account
An account opened through a payment processor or financial institution that allows payees to accept credit card payments from a payer.
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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...
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VAR Sheet
A VAR Sheet is a file containing information, such as merchant account information, bank account information, processor information, etc. This file is typically given to a payment gateway, allowing for communication between the gateway and the merchant account provider.