A merchant account is a type of bank account that allows businesses to accept payments by debit or credit cards. So a merchant account is an agreement between a retailer, a merchant bank and payment processor for the settlement of credit card and/or debit card transactions.
That really is all a merchant account is. It's just a bank account that is used to hold funds captured from your credit card sales. Then, once per day the money is sent out of your merchant account and into your regular business bank account.
Applying for and getting a merchant account is not a slam-dunk process even though the business of issuing merchant accounts is highly competitive. To minimize risk vendors use a variety of criteria to determine whether to approve a merchant account application:
Type of business - does it have a higher or lower risk of credit card fraud or returns?
Length of time in business
Business history - bankruptcies, defaults, etc.
Whether the applicant has had merchant accounts previously
We all are very well aware that when Business and commercial activities are done Electronically it is referred as E-commerce. Sometimes back it was something which was considered as an advancement in the sector of Business and Commerce but now its a requirement and is taking over rapidly the whole of the market. Present and future of Shopping is online and will be completely online. And this the reason we are seeing numerous start-ups, entrepreneurs starting up with E-Commerce business and achieving their goals and growing globally. It has helped merchants to connect with their customers beyond the boundaries, and even made customer’s experience also fast, seamless, and most convenient.
The Merchant Account
A merchant account is a type of bank account that allows businesses to accept payments by debit or credit cards. So a merchant account is an agreement between a retailer, a merchant bank and payment processor for the settlement of credit card and/or debit card transactions.
That really is all a merchant account is. It's just a bank account that is used to hold funds captured from your credit card sales. Then, once per day the money is sent out of your merchant account and into your regular business bank account.
Applying for and getting a merchant account is not a slam-dunk process even though the business of issuing merchant accounts is highly competitive. To minimize risk vendors use a variety of criteria to determine whether to approve a merchant account application:
We all are very well aware that when Business and commercial activities are done Electronically it is referred as E-commerce. Sometimes back it was something which was considered as an advancement in the sector of Business and Commerce but now its a requirement and is taking over rapidly the whole of the market. Present and future of Shopping is online and will be completely online. And this the reason we are seeing numerous start-ups, entrepreneurs starting up with E-Commerce business and achieving their goals and growing globally. It has helped merchants to connect with their customers beyond the boundaries, and even made customer’s experience also fast, seamless, and most convenient.