Merchant accounts
A merchant account is a type of bank account that allows businesses to accept and process credit and debit card transactions. A merchant account is often necessary for certain kinds of business, especially those operating online. This kind of account is specifically used to identify the vendor as the owner of the purchase information sent to the bank and the recipient of the money from the transaction. Merchant accounts are provided for a specific vendor by an “acquiring bank”, under an agreement to settle payment card transactions.

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