The merchant agreement is the entirety of the agreement between a merchant and an acquirer and spells out in great deta [...]
Merchant Services
Questionable Merchant
When a merchant or location has a large number of fraudulent transactions within a specific period, it is deemed a ques [...]
Switch
Used in the routing of payment transactions across a number of channels, a switch is an important part of payment proce [...]
PIN Pad Providers
In the context of EMV, PIN pad providers are companies that provide the unique devices necessary to complete the EMV-co [...]
Payment Application Providers
In the context of EMV, a payment application provider is a company that provides to merchants the software necessary to [...]
Independent Software Vendor (ISV)
When business application software is created for a company by a third-party, this party is called the independent soft [...]
Merchant Bank
Also called the acquirer, the merchant bank is the bank that a merchant uses to complete credit card and ACH transactio [...]
Reseller
A reseller is a company that arranges for a business service or product in bulk, including credit card processing and o [...]
PSP (Payment Service Provider)
Offering online sellers the ability to accept electronic payments, a PSP opens a world of payment options to Internet r [...]
Processor
An organization that provides authorization and settlement of financial transactions on behalf of its members, a proces [...]
Originator
The originator in a wire transfer or an automated clearing house or ACH payment is the financial institution that initi [...]
MSP (Merchant Service Provider)
Also called the merchant account provider or merchant acquirer, the MSP is the entity that provides merchants with the [...]