What Is A Merchant Account?

QuestionsCategory: Payment ProcessingWhat Is A Merchant Account?
Bankim Chandra Staff asked 3 years ago
1 Answers
Prakhar Chandra Staff answered 1 week ago

A Merchant account can be termed as a special purpose account that can be used only for card transactions. To get a merchant account you will have to approach a payment service provider or an ipsp. The psp will check your documents and profile. Based on psp’s understanding you may get an account or it may be rejected.