Merchant Account

 What is a merchant account? 

A merchant account is a business bank account that allows a company to accept and process electronic payment transactions, such as credit card and debit card payments. When a customer purchases using a card, the funds are deposited into the merchant account before being transferred to the business’s primary bank account.

This process involves several parties, including the merchant, the customer’s bank, the acquiring bank (which provides the merchant account), and the payment processor that manages the transaction.Merchant accounts are essential for businesses that want to offer flexible payment options to their customers and are a critical component of e-commerce and retail operations.

Types of Merchant Accounts include:

• CP
• CNP