What is a merchant account?
Using a merchant account, a business owner has the ability to accept credit cards in virtually any retail environment, including the Internet. By opening a merchant account, a merchant is establishing an account with a payment processor for the settlement of their business credit card transactions. Any merchant who wishes to accept credit card payments from their customers must have a merchant account. With a Money Tree merchant account, you will be able to accept all major credit cards including Visa, MasterCard, Discover, and American Express, as well as debit, check and ach. Money Tree Merchant Services is your one-stop source for merchant account equipment and credit card processing software. We will work with you to find the best solution for your business needs.
A merchant account is a relationship and a trust you have with a bank that has agreed to allow you to charge people’s credit card, while they honor it and deposit the funds into your account. The bank (our partner, United Bank Card)is responsible for debiting the funds from the customer and depositing it into your account. There must also be a processor involved that processes the credit cards for the bank and lets them know the funds are available. A merchant account is essentially a line of credit extended to the merchant by a processor and when you are given a merchant account, they are relying on you to uphold your promises to your customers by delivering the products and/or services to them in a timely manner.
