Hi, I’m Melissa Blackburn, and today we’ll
be talking about how Merchant Accounts work. A Merchant Account consists of a relationship
between an Acquiring Bank, a Merchant and a Payment Gateway. Through this relationship,
a business can legally accept credit or debit card payments online from cardholders purchasing
goods or services from their business. Payment Processors, Independent Sales Organizations
(ISOs) and Member Service Providers can also be part of a Merchant Account contract. Merchant
Accounts are required to abide by regulations set by the card associations such as Visa
and MasterCard. Merchant Accounts are subject to varying fees; these fees can either be
implemented through recurring billing, or as a percentage of each transaction, or sometimes
both. For more information on payments and E-commerce, please visit 2Checkout.com.