The first step to enter the online market and starting your business is to create a merchant account. A merchant account isn’t same like a general account in every term. This can be termed as a technologically advanced version of a normal bank account. It allows businesses to accept payments through credit and debit cards. The first stop for payments made through credit cards are merchant accounts and after a defined period of 2-7 days the amount is transferred into business bank account. Credit history, business history, type of business and previous records play a vital role in order to open a merchant account with the bank. Moreover internet merchant accounts are specifically designed for online payment processing of credit cards. With the new developments in communication and technology industry, mobile has become the most versatile device performing numerous tasks, including ones related to e-commerce.
Google being the foremost player in mobile and internet technology provides a huge platform for online business around the globe. Right from a small mobile application to a dedicated service, everything available on android can be linked with a merchant account for online payments and sales purposes. The paid applications on android and in-apps purchases from Google play store are usually provided with a merchant account from the Google merchant center. One must have a google account to use these services related to merchant account for android.
Alternatively, you can also create your payments profile in google payments center and link it with your existing merchant account. The profile is automatically linked to the play console of the developers and they can manage app sales, sales reports, receive payments and manage the accounts.
There are certain prerequisites to link you merchant account to google merchant center for android. The developer merchant account should belong to the supported locations for developers and merchant registration as prescribed by Google merchant center. The number of countries supported for merchant registration on google for android is limited. After agreeing to the terms and conditions of google for android, developers can submit their product data and manage the online payments. The merchant center also provides extra facilities of troubleshooting and help to the merchants with online business transactions. For the listed countries, direct bank transactions with merchant accounts are permitted but with the countries that aren’t permitted to have merchant registration, developers can earn the revenue only through ads or third party services.
Another way out is to integrate the merchant account to the application you have developed and link it to the ‘buy now’ icon on your webpage. Once the customer clicks on the mentioned icon, the page is redirected to the payment gateway where the online payment can be made. Here again, the most important point to ponder is having the legal merchant account registered in a permitted country. While choosing the payment processor for the app sales, merchants must keep in consideration the quality of services provided, reliability and competitive fee structure of the processing company.
The final verdict on merchant account for android is divided further into two suggestions for the developers. First, to have a legal merchant account or google payments merchant account from the enlisted countries only. Second, to opt for the best-in-class payment processors that can handle the complete transactions and sales of their apps and products online. A wisely planned action will for sure result in the profit of developers/ merchants.