What is a Merchant Account

A merchant account allows businesses to accept purchases by credit card or debit card. A bank extends a line of credit to a merchant that wants to accept payment transactions by a specific card association brand. Without this contract, the merchant cannot accept payments by any credit card brands. When a merchant account is set up and the business begins using the credit card terminal that is chosen, the funds are then directly deposited into the merchant's bank account. It only takes a few days to get a merchant account set up. Having a merchant account set up makes business transactions quick and easy because the money is deposited into the bank account within 2-3 business days. Without having to deal with cash in a register, the payment process is done much faster. It is also a safer process because the money is deposited into the merchant's bank account offering less hassle that comes with counting money in a register.

Credit Card Processing References
Mail Order / Telephone Order (MOTO) Accounts
Pin-Based Debit and Offline Debit Transactions
What is a Merchant Account
What Are Credit Card Processing Rates