What Is The Difference Between A Merchant Account And A...Published 1 month ago Views (15) Uncategorized
A merchant account is a business bank account that helps businesses accept payments from customers. It is provided by the payment aggregator, where the payment aggregator receives funds on behalf of the merchant account. These funds are then forwarded to the bank account of the merchant. This transferring of account is known as the settlement of funds. Ideally, this settlement takes around 1-2 business days.
On the other hand, payment gateways are the technology providers that route the online payment of any business. It helps capture the payment data of the customer on the checkout page and forward it to the respective bank.
The data forwarded is in the encrypted format, and from there, they inform the customer that the payments have been accepted or rejected.
Additionally, the payment gateway, through its secure technology, will help you make secure online payment processing for SaaS. The payment aggregator will allow you to accept payments through a merchant account without the need to have a separate payment integration system.
Together, these two will help you make and receive online payments. However, Payment aggregators are not the only ones to provide merchant accounts.
What Are The Types Of Merchant Accounts, And How Do...
Mia Sosa ’ll start with a confession: I can’t remember the first romance novel I read or when I read it. But I do know that I had a stash of Harlequins when I was in middle school and that I hid said books between the covers of my Menudo magazines (if you’re not familiar with the Puerto Rican boy band Menudo, picture young Ricky Martin in spandex
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