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| Merchant Account is a specialized commercial
bank account established with a payment processor for the settlement of
credit card and check transactions. Any merchant who wants to take credit
card orders must establish a merchant account. Internet merchants need
a "Card Not Present Merchant Account" established by contractual
agreement between a business and a bank and/or a payment gateway. The
agreement contains the respective rights, warranties, and duties with
respect to accepting bankcards like Visa or MasterCard.
Many financial institutions offer merchant account,
but at Superior commerce we make sure that you get the best value for
your money as a part of your transaction processing solution. You also
need to open a business bank account (usually checking) to automatically
deposit funds after transaction are successfully processed. By establishing
a merchant account, the financial institution agrees to pay the merchant
for valid credit card purchases in exchange for the right to collect
on the debt owed by the consumer. A merchant account is a crucial part
of ecommerce. |