Merchant account

A merchant account is a type of corporate bank account that enables the acceptance and processing of credit and debit card transactions. A merchant account is often needed for various businesses, especially for doing business online. This account is specifically used to identify the seller as the owner of the purchase. Information about owners and transactions is sent directly to the bank.

This bank account is issued by purchasing a bank for a specific seller under an agreement to process payment card transactions. Sometimes an independent sales organization, member service provider, or other payment processor appears as a third party in the merchant agreement. After signing a dealer contract, the provider is contractually obliged to comply with the regulations of card associations such as MasterCard? or Visa.

Merchant Account Features There are two main categories of merchant accounts that are usually chosen by different companies based on the nature of their business. "Swiped" refers to transactions where a customer pays for purchases in person and is required to swipe or insert a credit or debit card. This type of merchant account is mainly used in retail. “Encrypted” refers to transactions in which the credit or debit card information is entered through a virtual terminal, typically over the Internet. This type of merchant account is mainly used by ecommerce merchants, but some merchants choose to use this method for in-person transactions as well as it is less expensive.

Use dealer account Similarly, a merchant account lets you accept a card payment from a customer because you can deposit someone else's check into a checking account. In the meantime, the merchant account does not hold any money like checking or other deposit accounts. Instead, the card payment is made via the payment gateway via the merchant account and after the funds have been settled, they are deposited in a current account. It usually takes up to 48 hours from the time of the transaction for the money to be transferred to the seller's checking account. In addition, instead of receiving numerous deposits for each transaction, all payments from a business day are combined into one deposit payment, which is referred to as a "batch".

The merchant account can also be declared a credit line account as the seller is paid before the actual funds are collected from the customer. This means that the seller can be subjected to a personal credit check or an obligation to sign a personal guarantee.

http://www.confiduss.com/en/banks/account/merchant/


トップ   編集 凍結 差分 バックアップ 添付 複製 名前変更 リロード   新規 一覧 単語検索 最終更新   ヘルプ   最終更新のRSS
Last-modified: 2021-06-17 (木) 20:17:47 (96d)