Credit Card Glossary: Terms and Definitions
Confused by credit card terms? CreditCards.com's glossary of credit card definitions will help. From account holder to Regulation Z, we have defined the most-common and most-confusing credit card terms.
- 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.