Merchant account is the basic necessity for the businessman and apart from that a smooth
payment gateway. Both have an equivalent
ratio for the smooth and balanced working of the business.
Merchant
Account
A type of account that allows accepting online payment from the customers through many
ways under legal wings of the payment service provider.
Merchant The account is created under the mutual agreement between a merchant and merchant’s
acquiring a bank, so to further proceed with future online payment.
Meaning
Of Payment Gateway
A payment
gateway is a software program that works behind the scene. It is basically a
process that enables the flow of the payment securely. It’s a secure way to
transfer your customer’s money safely into your merchant account. It’s really
very important to have a payment gateway for the following reasons:
• It creates a
trustworthy aura between you and your customers.
• It maintains a good graph in the competitive world.
• Prevents
your money from fraudulent activities.
• Keeps you
away from any future threat.
Short
Overview
Above
mentioned content shows the nature of the account, now below we can compare
both of them:
• Merchant
Account is an account where the funds are deposited and payment gateway is the
channel from which we receive our payments.
• Merchant
account holders get their amount through the payment gateway
• Merchant
Account holds the money, which they earn from selling their goods/services and
with the help of a payment gateway, they get their amount secured under the
safety of the acquiring bank.
• Payment
Gateway gives a piece of evidence for the particular transaction for future
Disputes.
A place
where you will get solutions to every query. We undertake many responsibilities
such as Opening Merchant Accounts, Merchant Account Underwriting, Secure
Payment Gateways, High-Risk Merchant Account & Low-Risk Merchant Account
profile management and much more.
If the
vision is still vague, you can approach us frequently through our website
https://www.merchantstronghold.com/or through our telephonic support, we are
available here 24*7. Contact us on +1 (888) 622 – 6875.