Posted in Marketing and Strategy Terms, Total Reads: 244
Definition: Merchant Account Provider
A merchant account is a bank account that enables businesses and firms to accept payments through payment cards like credit cards and debit cards. This merchant account is established after an agreement for the settlement of payments through payment card between an acceptor and merchant acquiring bank.
Merchant Account providers enable businesses to accept payments through payments cards like credit card and debit card for payment of goods and services face-to-face, over the internet or on the telephone. In today’s market, credit card is the most preferred method of payment that makes merchant account a necessity for businesses.
Services provided by merchant account providers-
• Point of sale equipment rental – provides point of sales terminal that may be portable, fixed, mobile or specially adapted for B2B transactions
• Purchase with cashback – this service appeals convenient to customers which has increased footfall, impulse buying and increased number of customers due to convenience of cashback.
• E-commerce solutions- provides secure means of transaction for businesses sell their products online
• Anti-fraud measures- provides secure transactions through anti fraud measures for clients and their customers
Merchant Account Providers has become the crux of businesses now-a-days which has made businesses very easy and secure.