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Glossary of Terms

At PowerPay, we find informed merchants and partners easier to support, and also offer information to educate our affiliates and customers. Below are some of the most common terms used in the credit card processing industry. The definitions contain both factual information and suggestions on how to best use PowerPay's credit card processing systems.

Address Verification System

Authorization

Card Associations

Chargeback

Compliance

Discount Rate

Interchange Fees

Issuing Bank

Merchant (Acquiring) Banks

Merchant Services Provider

Network Processor (Vendor)

Settlement

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