|
Merchants
Merchant Accounts
What is a Merchant Account?
A merchant account is a relationship between a retailer and a merchant bank that enables retailers to accept credit card and debit card payments from their customers. Merchant accounts includes a special merchant bank account set up especially to allow a Merchant Account Provider to deposit payments into your business account. To accept payments online, you must have an Internet merchant account.
What is an Internet Merchant Account?
Internet merchant accounts allow you to accept payments online. You may already have a regular merchant account for your business, but to accept payments online, you must have a separate Internet merchant account.
What is a Merchant Account Provider?
A Merchant Account Provider is a financial institution that has established relationships with various banks that have merchant accounts. Merchant Account Providers act as third-party resellers for what is, in the end, a service provided by some banks. Merchant Account Providers have a greater understanding of their customers needs and so can shop the market for the most suitable Internet merchant account.
|
