Merchant Services Terms Beginning with R

Recurring Transactions: refer to the instance when consumers authorize merchants to charge their credit card or debit cards a specific amount on a regular basis – such as monthly, quarterly or yearly – for a series of goods or regular services.

Refund Policies: A deliberate set of plans of action set by merchants regarding refunds to their customers for goods or services received if either is unsatisfied with the transactions that generated said good or service sales.

Reserve - Reserve, which is also known as Rolling Reserve or even as Hold Back, is an amount of money that is literally held in reserve by the merchant account provider to cover potential customer dispute charges, related chargeback fees and other types of expenses.

Retrieval Request – A “retrieval request” is a request made to a merchant for either a legible copy of a sales transaction record or an original sales record.