Read More Warning If You Use Bank of America For Credit Card Processing
Credit Card Processing Definitions
Understanding credit card processing terminology is crucial for merchants who want to make sense of correspondence and memos from their credit card processor. We’ve also highlighted a few common “made-up” terms, such as “Risk Fees” and “Interchange Clearing Fees.” If you come across a fee on your merchant processing statement that isn’t listed here, don’t assume it’s legitimate. Our goal isn’t to catalog every made-up fee, but to provide examples so you, as a merchant, are aware that such fees exist.
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