Business glossary
Merchant account
An account arrangement that enables a business to accept and settle card payments.
Example
A business accepting card payments uses a merchant arrangement through a bank or payment provider. Gross card receipts, provider fees, refunds and settlement amounts can differ.
How it differs from related terms
The merchant arrangement supports card acceptance and settlement. A gateway transmits payment information, and a business bank account receives funds. Some providers combine these services, so examine the actual settlement statement.
Frequently asked questions
What is an example of merchant account?
A business accepting card payments uses a merchant arrangement through a bank or payment provider. Gross card receipts, provider fees, refunds and settlement amounts can differ.
How should merchant account be interpreted?
The merchant arrangement supports card acceptance and settlement. A gateway transmits payment information, and a business bank account receives funds. Some providers combine these services, so examine the actual settlement statement.