When you setup an Internet merchant account, you create a financial relationship between you and a credit card processor, so funds can be deposited directly into your bank account. It is very much like a retail merchant account, the difference and the added advantage is that an internet merchant account is designed to accept online payment transactions, while a regular merchant account is not approved for web transactions and requires a credit card processing machine that physically reads the information as it swipes the credit card. An internet merchant account will allow you to accept credit card payments and process them in real time either through your web site or via virtual terminal. |
