Merchant Account Terms & Definitions

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Debit Card. A bankcard which allows customers to access their funds immediately and used to make an electronic withdrawal from funds on deposit in a bank.

Demand Deposit Account (DDA). This is the merchants Demand Deposit Account, also known as the merchant's home town bank account.

Digital Certificate. An encrypted attachment to an electronic message used for security purposes. The most common use of a digital certificate is to verify that a user sending a message is who he or she claims to be.

Discount Rate. The fee charged by the card acquirer to the merchant for processing payment card transaction.

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