Glossary
What do the technical terms mean
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Payment does not have to be complicated. However, there are technical terms that are often not common.
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Dealer contract
A merchant agreement is a contract between acquirer and contracting company.
Special features
The contracting companies agree to accept the credit card as a means of payment. A special feature is that the cardholder has an independent right to card payment under this contract; it is therefore a contract for the benefit of third parties.