What is Merchant?
4) What is Merchant Account? A merchant account is a specific type of bank account designated for processing credit card transactions. Since Internet credit card sales require more stringent risk management systems, many traditional banks do not offer these specialized services. A merchant account enables you to accept credit cards as payment for the purchase of goods and services. There are different types of merchant accounts. For example, if you have a traditional “brick and mortar” store, you can get a retail merchant account. If you want to accept credit cards on your Web site, however, you need a specialized type of merchant account known as an “Internet-ready” merchant account. Internet-ready merchant accounts enable you to handle Internet transactions in “real time” without any human intervention. Because the risk of credit card fraud is greater when you are accepting credit cards over the Internet, these specialized merchant accounts also provide additional checks that can sig
