What is a Merchant Account?A Merchant Account is a bank account which allows businesses to accept credit and debit card transactions.
Actually think of your merchant account as “THE CONNECTOR”.
account connects all of the points of contact in your business has with
credit card information to your physical business bank account (e.g.
checking / savings).
Here's an example in a "brick and mortar"
business: Many business have a terminal in their business that is
dedicated to taking credit cards. We see them all the time at grocery
stores these days. As the clerk is scanning our purchases, we step over
to the little payment terminal and swipe our card. This is the point
of contact for that business with a credit card for their customer.
That card information then goes through the system (discussed in another
blog post) and the money is moved from the customer's bank or credit
card company to the grocery store's checking account. The pipeline that
connects it all together is the store's Merchant Account.