Can I Take Credit Cards Without Merchant Account?

Merchant Services Q&ACategory: Payment ProcessingCan I Take Credit Cards Without Merchant Account?
Maurya Shubham asked 9 months ago
1 Answers
Bankim Chandra Staff answered 7 months ago

Technically No But Some Say Yes.

To accept credit card payments you basically need few key elements

  • Payment Gateway. This is a software module web based that allows you to accept payment online.
  • Merchant Account. The special account which you open with an acquirer. The sole purpose of this account is to hold funds received through card transactions
  • PCI Compliance. This is a protocol and standard that all card processing merchants and acquirers have to follow.

If a merchant wishes to get all the above separately then it will involve lot of money and legwork.

Full Stack Solution. This is a quick way to accept payments

In this model the merchant applies directly to a payment gateway company and the PG company handles all the above. Even signs a merchant acquiring agreement with the merchant. In this model merchants are generally presented with a hosted payment page and the payment is collected on the secure server of the PG company. In many cases the acquiring company may be a payment facilitator. The account may be an aggregated account.

All type of accounts are good aggregated or dedicated. The most important thing is which one is perfect for your requirements.

Do we have Full Stack Solutions. Yes We Have.

Have more questions feel free to fill the contact form and we will get back to you.