What is it?
A Merchant Account is an account opened through a
bank that is a member of the Visa, MasterCard, or
card network which allows merchants to accept credit
cards. The merchant account verifies and processes
credit card and
customer information. This includes checking to see
if the details supplied are correct (address, card
etc.) and if the card has been reported stolen, or
has enough funds.
How does it work?
To accept credit and debit cards online through your
website (or virtual terminal) you need both a secure
payment gateway and a merchant
Customer places order on your website and pays
by debit or credit card
Payment details sent to merchant account via secure
Merchant account processes payment
Once the payment is approved the information is
sent back via payment gateway.
Customer notified that payment has been successful
Funds settled into your back account (once a week)
Please note that to take payments online you will
also need a secure payment
Once payment has been taken both you
and the customer receive an email detailing the transaction
Why no payment gateway fees applicable?
Because a merchant account only verifies card information and processes payments,
no payment gateway fees are applicable.
This is left to the gateway provider. This works in the same way that a payment
fees (transaction rates) as this is left to the merchant account provider.
Please note that with our combined
solutions we provide
both the merchant account and the gateway, therefore
both these costs are applicable.
Need an Internet Merchant Account?
By choosing to take advantage of the Web-Merchant service,
any would-be merchant will save
on charges, have a considerably simpler
application process than that offered by the High
Street acquiring banks, and have made available to them
added value services specially developed by Web-Merchant.
Because we are an independent provider, we make the
task of accepting cards in your business a simple and
straight forward process.
We supply both the internet merchant account and
the secure payment
gateway as part of our online payment solution.