Merchant services
Merchant services is a broad category of financial services intended for use by businesses.[1] In its most specific use, it usually refers to merchant processing services that enables a business to accept a transaction payment through a secure (encrypted) channel using the customer's credit card or debit card or NFC/RFID enabled device. More generally, the term may include:
- Credit and debit cards payment processing
- Check guarantee and check conversion services
- Automated clearing house check drafting and payment services
- Gift card and loyalty programs
- Payment gateway
- Payment orchestration
- Merchant cash advances
- Online transaction processing
- Point of sale (POS) systems
- Electronic benefit transfer programs, such as ration stamps (called food stamps in the U.S.).