Remove Accept Credit Card Payments Remove Government Remove Onboarding
article thumbnail

Glossary: 117 software-led payments terms to know

Payrix

Master merchant Payment facilitator that becomes the merchant of record on behalf of a network of smaller merchants (sub-merchants) or billing companies that regularly collect payments; key markets for master merchant networks include government, education, utilities, and nonprofit organizations.

article thumbnail

Merchant Underwriting: What It Is, How It Works, and Why It’s Important

Stax

The merchant underwriting process is a critical step that payment processors and financial institutions use to assess the risk associated with onboarding new businesses. Merchant account underwriting is the evaluation process payment processors use to assess whether a business meets the criteria for accepting credit card payments.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Glossary: 117 software-led payments terms to know

Payrix

Master merchant Payment facilitator that becomes the merchant of record on behalf of a network of smaller merchants (sub-merchants) or billing companies that regularly collect payments; key markets for master merchant networks include government, education, utilities, and nonprofit organizations.

article thumbnail

Everything You Need to Know About PCI Compliance for Credit Card Processing

Stax

Legal Repercussions If a credit card data security breach occurs and the business is found to have used a non-PCI certified provider, they may face class action lawsuits from affected customers, banks, and credit card companies.