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What is a Third Party Merchant Account?

April 26, 2017merchant account party

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What is a Third Party Merchant Account?

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Sometimes referred to as an Aggregator Account, a merchant account used to process the transactions of many merchants all processing transactions under, what can be thought of as, a multitude of sub-merchant accounts. This type of account is usually owned and operated by a processor. It is ideal for merchants that do not qualify for their own Direct (Dedicated) Merchant Account and/or merchants not wishing to setup a corporation with a resident agent in the country of the acquiring bank. This is now required for Direct Merchant Accounts per recent Visa/MasterCard regulations. It is standard for merchants to begin processing with this type of account before acquiring a Direct Merchant Account.