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.
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