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Online businesses come in all shapes and sizes. But they share a few core components: A website, a shopping cart, a payment gateway, and a merchant account.
You need a merchant account to get paid. A merchant account is a type of bank account that allows businesses to accept payments made by payment cards, eChecks and digital wallets from websites, POS terminals, and mobile devices.
The bank where you have your merchant account is referred to as a merchant acquiring bank, or acquirer. The merchant acquiring bank accepts and processes your customers’ payments through the payment processor and credit network.
When you apply for a merchant account, the underwriter will look at factors including your industry, your processing history (if any), your personal credit, and the creditworthiness of your business. If approved, your business can start accepting payments.
Authorize.net offers merchant accounts as well as payment gateways. You can take an all-in-one plan covering both or take either element separately. Whether you set up your new merchant account through us or your own bank, we're here to help your business accept payments. www.authorize....