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

  • EFT (Electronic Funds Transfer)

    The electronic exchange or transfer of money from one account to another, either within a single financial institution or across multiple institutions, through computer-based systems.

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  • TCPA (Telephone Consumer Protection Act)

    The Telephone Consumer Protection Act limits the amount of telemarketing and overall use of automated phone calls. The act applies to automated phone calls (including pre-recorded messages),...

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