Merchant Account Basics
Core definitions and how payment processing actually works, from transaction flow to the key players behind the scenes.
- What is a merchant account?
- What is a merchant service provider?
- What is the difference between a merchant account, a payment processor, and a gateway?
- What is the difference between a PayFac and a true merchant account?
- Why do payment processors sometimes shut down accounts?
- How does payment processing work from transaction to settlement?
- What parties are involved in a card transaction?