Merchant Bank (Noun)
Meaning
A credit card processing bank; merchants receive credit for credit card receipts less a processing fee.
Classification
Nouns denoting groupings of people or objects.
Examples
- The merchant bank provided the point-of-sale terminal for the retailer to process credit card transactions.
- As a merchant bank, JPMorgan Chase offers a range of payment processing solutions for businesses.
- The merchant bank deducted a small percentage of the sale as its processing fee before crediting the merchant's account.
- New businesses often have difficulty finding a merchant bank willing to accept them as clients.
- In addition to its traditional banking services, the bank also operates a large merchant bank that processes millions of credit card transactions daily.