what is merchant account?
High Risk & Low Risk Merchat Services

what is merchant account?

Question by Rahul: what is merchant account?
hi guys….
I m working in call centr frm last 4 years and now i m looking forwd to start my own call centr.
i m having enough money to invest….. bt i need info abt merchant account cz its necessary for me, and i dont know anything abt this acc.
I dont know its importance, its requirements and how can i open it and all.
So plz help me out plz….

Best answer:

Answer by Rock
I think its just a simple business license, so that your business income can be taxed.

What do you think? Answer below!

Comment (2)

  • A merchant account is a contract under which an acquiring bank extends a line of credit to a merchant who wishes to accept payment card transactions of a particular card association brand. Without such a contract, one cannot accept payments by any of the major credit card brands.

    lets say u have a shop and bank with icici ,

    icici will be offer u merchant account , for credit card transactions

    use the below website it will help u …

  • Merchant account is the service that allows you to accept credit cards. Credit card acceptance can be done through a physical or virtual terminal. For your call center you will need a virtual terminal, which will allow you to enter your customers’ payment information as you take it over the phone. You should pay nothing for the application and set up and your processing rates should not be higher than 2.19% + $ 0.25 per transaction. Also you should not be paying any monthly minimums or annual fees.