Typically, a merchant account is an account that is established between a merchant bank and a retail business. In this arrangement, the retailer can accept credit card orders from its customers through an account it has set up with the bank.
The monies for purchases are received through the bank and then transferred to the merchant or retailer, minus fees the bank charges for the account and for processing the payments.
Anyone who wants to accept credit cards over the Internet will need their own online merchant account. This type of account is a little bit more difficult to get then a “regular” merchant account is, because credit cards used this way are never actually exchanged so that the merchant can see the credit card and therefore, the merchant never sees the actual signature of authorization.
Tags: Accept Card, Bank Charges, Credit Card Orders, Credit Cards, Internet Merchant, Little Bit, Merchant Account, Merchant Accounts, Merchant Bank, Monies, Online Merchant, Retail Business, Signature
