Questions and Answers
Which of the following is NOT a common name for the merchant services industry?
Retail Industry
Which of the following is a Tier II product in the merchant services industry?
Check Processing
What is the primary product offering in the merchant services industry?
Credit Card Processing
Which Tier I product is commonly used by retail merchants?
Signup and view all the answers
What is the purpose of the merchant services industry?
Signup and view all the answers
Study Notes
Merchant Services Industry Overview
- The primary product offering in the merchant services industry is payment processing.
Tier Classification
- Tier I products are high-end payment processing solutions, commonly used by retail merchants.
- Tier II products are mid-range payment processing solutions.
Industry Purpose
- The primary purpose of the merchant services industry is to facilitate transactions between businesses and their customers.
Industry Terminology
- Common names for the merchant services industry are payment processing, transaction processing, and card not present (CNP) processing.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
