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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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Virtual Terminal
A virtual terminal enables the ability to accept electronic credit card, debit card, and ACH transactions over nearly any Internet-enabled device. Learn More
Related Terms
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POP (Point-of-Purchase)
A one time debit entry to the account of a receiver whom is notified, at the point of purchase, that their check (source document) will be converted...
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