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A merchant category code (MCC) is a four-digit number used for retail financial services to classify a business by the types of goods or services it provides. Codes are specified by the ISO 18245 standard.
A merchant account is a type of bank account that allows a seller, known as the merchant, to accept payments by debit or credit cards.A merchant account is established under an agreement between an acceptor and a merchant acquiring bank for the settlement of payment card transactions.
A Universal Payment Identification Code (UPIC) is an identifier (or banking address) for a bank account in the United States used to receive electronic credit payments. [1] A UPIC acts exactly like a US bank account number and protects sensitive banking information.
The bank would ask for the account number, the name on the check, the amount and the check number and just look up the account. Due to banks issuing privacy policies [8] [9] designed to protect identity and fraud, telephone merchant funds verification by calling the bank directly is now rare for any bank or credit union to offer this service. [10]
A merchant plug-in (MPI) is a software module designed to facilitate 3-D Secure verifications to help prevent credit card fraud. [1] The MPI identifies the account number and queries the servers of the card issuer (Visa, MasterCard, or JCB International) to determine if it is enrolled in a 3D-Secure program and returns the web site address of the issuer access control server (ACS) if it is ...
The number identifies the country where a bank is located and also contains a bank identifier and additional details, including a check number and an account number. Not all banks have IBANs ...
A billing descriptor refers to how a company's name appears on a credit card statement and is established when the merchant account is created. It is intended for credit card customers to identify the recipient of a payment for a specific transaction.
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