Glossary

Merchant

A person (either legal or natural) that sells goods or services.

How does Merchant work?

A Merchant works with an Acquirer to apply for and receive a Merchant Account. Whenever a Customer purchases an item with a Credit or Debit card, the Merchant submits the purchase Transaction information to its Acquirer, which will then submit it through the Card Network to the Customer’s Issuer. The Issuer then approves or declines Transaction, and bills Customer the amount due to the Merchant.

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