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This type of account is sometimes called a transactional account, as an individual can draw money from it for day-to-day needs, making it easy to access. Generally, account holders use these accounts on a short-term basis for paying daily expenses like food bills. How Does Checking Account Work?
Use Acts as a terminal for card validation and fraud prevention Acts as mediator between merchants and financialinstitutions to facilitate credit card transactions. A payment processor is a system that handles online transactions. They serve as a go-between for the merchant and the financialinstitutions concerned.
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