100+ Payment Industry Terms Explained in Plain English
Clearly Payments
MAY 22, 2025
NACHA The organization that governs the ACH network in the U.S. 1099-K A tax form that reports card and third-party payment volume to the IRS for U.S. BIN (Bank Identification Number) The first 6 digits of a card, identifying the issuing bank. Fallback When a chip card fails and the system reverts to swipe.
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