Merchant Services

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Merchant Agreement

The merchant agreement is the entirety of the agreement between a merchant and an acquirer and spells out in great deta [...]

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Questionable Merchant

When a merchant or location has a large number of fraudulent transactions within a specific period, it is deemed a ques [...]

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Switch

Used in the routing of payment transactions across a number of channels, a switch is an important part of payment proce [...]

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PIN Pad Providers

In the context of EMV, PIN pad providers are companies that provide the unique devices necessary to complete the EMV-co [...]

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Payment Application Providers

In the context of EMV, a payment application provider is a company that provides to merchants the software necessary to [...]

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Independent Software Vendor (ISV)

When business application software is created for a company by a third-party, this party is called the independent soft [...]

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Merchant Bank

Also called the acquirer, the merchant bank is the bank that a merchant uses to complete credit card and ACH transactio [...]

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Reseller

A reseller is a company that arranges for a business service or product in bulk, including credit card processing and o [...]

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PSP (Payment Service Provider)

Offering online sellers the ability to accept electronic payments, a PSP opens a world of payment options to Internet r [...]

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Processor

An organization that provides authorization and settlement of financial transactions on behalf of its members, a proces [...]

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Originator

The originator in a wire transfer or an automated clearing house or ACH payment is the financial institution that initi [...]

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MSP (Merchant Service Provider)

Also called the merchant account provider or merchant acquirer, the MSP is the entity that provides merchants with the [...]




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