Merchant Account

A merchant account is a type of bank account that allows businesses to accept payments through credit and debit cards. When a customer makes a purchase, the funds are transferred from their card to the merchant's account. Setting up a merchant account involves a financial institution that handles the authorization and funds transfer processes securely. This account is essential for online stores, retail businesses, and service providers to process card payments efficiently, providing convenient transaction options for customers and ensuring quick access to funds for the business.