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.