Hi, I’m Melissa Blackburn, and today we’ll
be talking about Merchants. “Merchants” refers to any party that sells goods or services.
In e-commerce, an online merchant refers to a party that sells goods or services on the
Internet. A merchant works with an Acquiring Bank to establish a Merchant Account, or an
account that allows e-commerce companies to accept credit and debit cards. Whenever a
customer purchases an item with a credit or debit card, the Merchant will submit that
information to its Acquiring Bank, which will then be submitted through the debit or credit
card companies before the Issuing Bank. Finally, the Issuing Bank will bill the cardholder
the amount due to the Merchant.