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Merchant Account Guide

We pride ourselves here at Gotmerchant.com in educating and informing our merchants. We have created this merchant guide to provide you with helpful information to make an informed decision. If you are wanting to accept credit cards for your business, then you will want to know the information contained in this guide.

What is a merchant account?

A merchant account is an account between you and a credit card processing company. You are able to charge customer's credit cards with the assumption that you will fulfill your obligation. The funds are then deposited into your bank account.

There are two main types of merchant accounts. A "card present" also known as retail and a Internet / MOTO (mail order/telephone order) account. A retail account is where the credit card is present at the time of the sale and swiped through a credit card terminal. With a MOTO / Internet account the credit card is not present and taken over the phone or through the Internet.


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