What is a merchant account?
A merchant account is simply a relationship between a retailer and a merchant bank that enables retailers to accept credit card and debit card payments from their customers. A merchant account 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.
A merchant account is established directly with a bank and requires credit approval and setup fees. A merchant account holder assumes all liability for transactions that it processes. By using our billing service (or that of CCBill for high-risk merchants) you can avoid the fees and hassle of setting up these accounts and paying setup and processing fees. We take care of all of that for you, and you can get right down to business.
A merchant account is a special account provided by a bank that is a member of the Visa-MasterCard association. Once the merchant has a merchant account set up, the merchant can accept credit card information from customers. A merchant account for online use is typically referred to as a MOTO Discount Rate (Mail Order / Telephone Order) account will differ in terms and regulations from a standard merchant account due to the risk involved since the merchant is not physically seeing either the customer or the credit card, which increases the chances of fraud or charge backs.
A merchant account is a special arrangement with a bank required for processing credit cards. An internet merchant account is allowed to accept e-Commerce charges over the internet. You will typically pay both a monthly fee and a per-transaction fee for the merchant account. Merchant accounts also usually have a Minimum Processing Fee or Minimum Discount Fee, which requires the merchant to pay a penalty if a certain quota is not met for the month. Our internet merchant account has no monthly minimums. In addition, you pay a per-transaction percentage associated with the type of credit card. For Visa and MasterCard, this is called the discount rate, which may be “qualified” or “non-qualified”. US consumer credit and debit cards typically receive the qualified (lower) rate. International, government, or corporate cards receive the non-qualified (higher) rate.
