To accept credit cards, debit cards, and other types of electronic payments for your business, you’ll need a merchant account.
A merchant account is a type of bank account that allows your business to securely accept payments.
Payments are authorized through this account and then, when the transactions are approved and verified, they are deposited into your bank account.
A merchant account:
- Allows you to accept and process electronic payments
- Keeps your business secure from fraud and failed payments
- Connects with a payment gateway to process payments