Merchant Accounts

   
 

Why Do You Need a Merchant Account?

Merchant account provides the ability to accept credit or debit card for goods or services. It is the relationship between the business and the bank including card processor, the funds generated from sales are deposited into your bank account, less transaction fees.

The credit card payments are the dominant form of payment on the Interne. Without a merchant account, you will not be able to collect credit card payments.

 

 
   
 

What Are the Different Types of Merchant Accounts?

Mainly, for Internet / e-commerce transactions There is one primary type of merchant accounts, called a “card not present” merchant account.

Where Can You Obtain a Merchant Account?

Merchant accounts are obtained from a bank that is also an “acquiring bank”. The other option is to obtain merchant accounts from a credit card broker with higher fees.

 
     

 
     
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