Free Articles, Free Web Content, Reprint Articles
Wednesday, July 17, 2019
 
Free Articles, Free Web Content, Reprint ArticlesRegisterAll CategoriesTop AuthorsSubmit Article (Article Submission)ContactSubscribe Free Articles, Free Web Content, Reprint Articles
 

How to open a merchant account.

To accept the credit cards merchants have to meet certain electronic payment systemís requirements. First of all, every merchant working with the standard way of making electronic financial transactions (a credit card payment method) has to open a merchant account at a bank. Then a merchant has to establish a merchant account payment gateway, turning to one of the payment gateway providers.

The merchants have to settle up an agreement with a bank for the processing credit card payments. According to this agreement, merchants are obligated to follow the rules established by the credit card associations, which are the networks of banks operating with specific types of credit cards. A merchant account can be direct and sponsored. Sponsored accounts mean that a merchant establishes a merchant account in a bank with the help of the third party typically called an aggregator. One way or another, a merchant account serves to accumulate the money from the financial transactions with the customers. Another important procedure for the merchants who wish to process electronic payments is an establishment of the credit cards processing method. There are different methods of processing the transactions between a customerís credit card and merchant account. One of them is a credit card terminal, which is a device enabling the usage of a credit card. At every credit card terminal it is required to validate the ownership of a card with a PIN-code. One more credit card processing method is an automated response unit, which allows voice authorization through a mobile phone. And finally, the third method of credit card processing is used for online financial transactions. It is called a merchant account payment gateway. A merchant account payment gateway is equivalent to a terminal at every retailing outlet. The merchant account payment gateway is a service provided for a merchant by a company separate from one of the merchant accounts providers (the bank). The main purpose of the merchant account payment gateway providers is to ensure the link between a customer, a merchant and a bank. Payment gateway providers secure the payments with the 3d secure protocol, manage the traffic between the merchant account and the merchant account payment gatewayHealth Fitness Articles, and manage the currency support of every merchant account payment gateway.

Source: Free Articles from ArticlesFactory.com

ABOUT THE AUTHOR


A merchant has to establish a merchant account payment gateway, turning to one of the payment gateway providers.A merchant account payment gateway is equivalent to a terminal at every retailing outlet.



Health
Business
Finance
Travel
Technology
Home Repair
Computers
Marketing
Autos
Family
Entertainment
Law
Education
Communication
Other
Sports
ECommerce
Home Business
Self Help
Internet
Partners


Page loaded in 0.032 seconds