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What is a Merchant Account?
Glossary of Terms
In order to process credit cards online, businesses set up
what's known as a "merchant account," which enables
the credit card networks to verify transactions and route
funds. The application process is generally very simple and
straightforward.
Many providers bundle the merchant account with other services
which come pre-installed with shopping cart software and
pre-configured to deposit funds into your merchant account.
This option, called a turn-key option, is perfect for small-
and medium-sized businesses who have products or services
to sell, but don't have programmers on staff. If you already
have a hosting provider, you can always link to their
internet store or use their
payment gateway (you'll pay a fee or surcharge).
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