Merchant Account Glossary Series:
(Terms and Definitions)

Internet/MOTO Merchant

This describes a merchant who takes credit cards over the internet, through the mail or over the phone.

Prior Authorized Sale

A transaction for which authorization was obtained at an earlier time.

Recurring Transactions

This type of transaction gives the merchant permission to periodically charge a credit card holder. Examples are an internet service provider, a membership web site, a hosting provider, a book club, etc.