What is a merchant
A Merchant Account is an account opened through a bank
that is a member of the Visa, MasterCard, or other credit
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 number 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
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 payment
solutions we provide both the merchant account and
the gateway in one combined solution, therefore you
do not need to apply separately.
I'd like to go head. What
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.