A merchant account is a special type of bank account that will allow your business to accept credit card payments. It involves an agreement between a retailer, a merchant bank, and a payment processor to settle all of the transactions done by these cards. And an internet merchant account is any merchant account that has been configured to accept credit cards online.
When a customer decides to pay for a product you provide with a credit card, all the funds will be placed into your merchant account, and from there you can move it at will into your regular bank account.
If you plan to operate an e-commerce business or a small business and you would like to accept credit card payments online, then you need an internet merchant account. Getting a merchant account can be competitive, but it is something that virtually all small businesses are able to do when they select the right merchant account provider. Some of the things that you may be asked to submit with your merchant account application can include:
- The name, location, and contact information for the business
- The business’s website address (if applicable)
- What the business sells
- The length of time the business has existed
- Whether the business has had other merchant accounts in the past
If you decide to go specifically with an internet merchant account, you will have a merchant account that is specifically designed to hold onto the proceeds from online credit card payments. This means that you have most likely sold your items online and someone wants to pay you over the internet–typically right from your website.
To take credit card payments online, you will also need to have a payment gateway. This will authenticate the information submitted with the credit card. The right merchant account provider will provide this for you when you receive your internet merchant account.
To find out more information about what is an internet merchant account, or to sign up for a merchant account now, you can visit Charge.com or call (888) 924-2743. No matter what you sell or how you sell it, Charge.com can help your business succeed and grow.