Credit Card Glossary: Terms and Definitions
Mail/phone order merchant
A mail/phone order merchant is one that transacts credit card business by mail or phone. Because that merchant cannot physically check the credit cards that its customers use for payments, the transaction processors, such as Visa and MasterCard, charge that merchant higher fees to process credit card transactions.
Terms from A-Z
Search the CreditCards.com glossary for every credit-related term from "account holder" to "zombie debt." Select a letter for alphabetized terms and definitions.