What is a merchant account and how do I open my merchant account?

What is a merchant account?

A merchant account is an account to which you will receive funds for sales, as well as where funds will be taken out in the case of refunds. The funds from your merchant account will be transferred to your business’ bank account, at which time you can manage your funds as you would normally. It is necessary to have a merchant account in order to accept payments in an online store.

How do I get a merchant account?

One option is to go through your payment gateway provider to obtain your merchant account, so you don’t have to deal with the hassles of managing one on your own. Some services will provide you with one merchant account that can accept payments internationally. My company, Acardpay, provides a merchant account (capable of accepting payments internationally) in addition to provide payment gateway solution.

For more information:

Acardpay | What is a Merchant Account? - We wrote a blog post that breaks down merchant accounts into a bit more detail.
What Is A Payment Gateway? - This blog post elaborates on payment gateways in more detail.
Online Payment Solutions for eCommerce, B2B & Acardpay Companies - Check out our website for more information on our features and capabilities.