What is a merchant account?

What is a merchant account?

What is a merchant account?


A merchant account is a type of bank facility that allows any qualifying business to accept payments, from customers, via their debit or credit cards.

It is a processing facility offered by an acquiring bank, governed by an agreement between the business (or merchant), a merchant bank and payment processor for the settlement of credit card and/or debit card transactions.


Rapid Payments works with various acquirers to be able to offer online businesses, merchant accounts for card processing, settlements and reconciliation.

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