Payment Glossary

Business Day

Refers to any weekday with the exception of federal holidays.

Related Terms

  • Effective Rate

    The effective rate shows the amount of volume a business pays in credit card processing fees to process a given amount. It is shown as a percentage,...

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  • SHR (Shared Network Transaction)

    A one time debit entry to the account of a receiver where the entry is initiated at an electronic terminal. The entry is initiated into a shared...

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