A merchant account — also known as "merchant services account" — establishes a business relationship with a merchant services provider, like a bank, and enables a business to accept debit and credit cards, Apple Pay and other contact-less payments, eCommerce transactions, and more. Many types of entities are authorized to be merchant services providers, and they are sometimes known as merchant account providers, credit card processors, acquirers, acquiring banks, or processors. Businesses can accept credit or debit card transactions online, through a payment card reader, or with a point-of-sale system.
I don't know much about Merchant Accounts. But I would like to know more about them. Thank you so much for the explanation.
