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About: Merchant account     Goto   Sponge   NotDistinct   Permalink

An Entity of Type : yago:Whole100003553, within Data Space : dbpedia.org associated with source document(s)

Type: yago:WikicatPaymentSystemsyago:Artifact100021939yago:Instrumentality103575240yago:Object100002684yago:PhysicalEntity100001930bookyago:System104377057yago:Whole100003553 New Facet based on Instances of this Class

A merchant account is a type of bank account that allows businesses to accept payments in multiple ways, typically debit or credit cards. A merchant account is established under an agreement between an acceptor and a merchant acquiring bank for the settlement of payment card transactions. In some cases a payment processor, (ISO), or (MSP) is also a party to the merchant agreement. Whether a merchant enters into a merchant agreement directly with an acquiring bank or through an aggregator, the agreement contractually binds the merchant to obey the operating regulations established by the card associations. A high-risk merchant account is a business account or merchant account that allows the business to accept online payments though they are considered to be of high-risk nature by the ban