Merchant Account | What is a Merchant Account

Merchant Account | What is a Merchant Account

 

Merchant Account | What is a Merchant Account video transcript

0:04

Hello, this is Ricky with CreditCardTerminals.com and today’s topic is: What is a Merchant

0:20

Account? A merchant account is a service provided for

0:23

businesses that allows that business to accept credit card and debit card payments. A merchant

0:30

account might also enable the business to accept gift cards, electronic checks run a

0:34

loyalty program and more. Now, an important distinction to draw here

0:40

is that a merchant account is not a credit card terminal and visa versa. Just because

0:45

you have a credit card machine does not mean you can start accepting credit cards.

0:51

All credit card processing equipment must be linked to a merchant account that is linked

0:57

to the businesses bank account. Once this is all setup, the credit card machine is usually

1:02

downloaded with some special codes and keys to make sure that all transactions get properly

1:07

processed and deposited into the businesses bank account.

1:11

A merchant account is required if you want to accept credit cards for your business.

1:17

Your merchant account acts as the air traffic controller of every single non-cash transaction

1:23

you process. In order to use your merchant account, you

1:26

will either need a credit card machine or you will need some sort of online virtual

1:31

terminal or shopping cart to help facilitate the transactions.

1:36

If you would like to learn more about merchant accounts and accepting credit cards for your

1:40

business, please visit us.