Merchant Services Glossary - Letter U

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Unique Transactions

A transaction that cannot be categorized as a retail sale or a cash advance, and for which there are special merchant classification codes. An acquirer with such merchant activity must have written approval from MasterCard and/or Visa for a bankcard relationship with the merchant.

Unsecured Credit

Credit extended without collateral, i.e. without the ability to attach specific borrowed assets in the event of default.

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