A merchant account is a business type of bank account, which allows e-merchants to make or receive payments by a use of debit or credit cards. It is that agreement that exist between a retailer, a merchant bank and payment processor for the settlement of credit or debit card transactions. The payment made with a credit card requires the transfer of funds to a merchant account, which a merchant ( you) holds directly with a bank. As a merchant, you has full responsibility over the transactions made through your account while bank itself, has its own terms of service to which account‐holders must strictly comprehend and work in line with.
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