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If there's one thing our industry's good at, it's baffling people with jargon. So we thought we'd give you a hand by translating some of the main offenders.
A financial institution that processes credit or debit card payments on behalf of a merchant.
A return of funds to a consumer, forcibly initiated by the issuing bank of the instrument used by a consumer to settle a debt.
The technology that reads payment cards and transmits the data to the central bank processor.
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