Payment Glossary

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

  • ARC (Accounts Receivable Entry)

    An ARC entry is a one time debit entry to the account of a receiver whom has previously been notified that their check (source document) will be...

    Learn More
  • Tokenization

    Tokenization replaces sensitive financial account information with a random string of characters, called a token. Learn More

    Learn More