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With cash on the decline and cheques almost obselete, if your business does not accept credit or debit cards, it’s likely to be losing out on significant volumes of custom.
However, before you can start to accept cards, it’s first necessary to create a merchant account that acts as an intermediary between a customer’s bank account and your business’s bank account.
What is a merchant account?
A merchant account is a type of business bank account that allows businesses to process electronic payments such as debit and credit cards. The merchant account acts as the mid-ground between the swiping of the card and the deposit of the money into a business account. It allows businesses…
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