Merchant Account

A merchant account is required to start taking payments online. It is a contract between the merchant and an acquiring bank that extends a line of credit to accept credit/debit card transactions online.

MPP’s leading payment gateway (which is used extensively in the iShop, iPay Developer and iPayment services) can be used to authorise payments for e-businesses and online retailers. It is the online equivalent of a physical terminal that can now be found in almost all high street retailers. By combining this payment gateway with your own merchant account, your business can accept payments through your website 24 hours a day, 7 days a week!

Should you require assistance in the acquisition of your own merchant account, then you may be interested to learn that MPP has links with several dozen banks worldwide. We are in an ideal position to assist your company with the acquisition of a merchant account, and can therefore provide everything you need to get your online business up and running.

The costs involved in this process are difficult to estimate as the merchant charges do depend on a number of factors including how long your business has been operating, what type of product or service you are selling and what your turnover is. However, we are confident that we can provide a solution to you – no matter what your circumstances are.

The advantages of this service are clear:

• Less red tape
• Rapid Setup
• Better rates
• Suitable for merchants of all sizes
• No director guarantees
• Anti-fraud protection

In short, everything you need to start taking web and mobile payments immediately! Please do not hesitate to contact us to learn more about our payment gateway and merchant services.

Merchant Account

An industry term for a business banking relationship whereby you and a bank have arranged to accept credit card payments (usually, a local bank can suffice for this kind of relationship). Setting up a merchant account usually involves the bank understanding your business and working with a third-party processor to arrange a mechanism for accepting payments. They are usually required for accepting customer credit card and electronic payments through an electronic commerce Web site.

(Source: Merchant Account - Webopedia )