Frequently Asked Questions About Merchant Account
Merchant Account FAQs
A merchant account is a type of bank account that allows businesses to accept payments by credit cards or debit cards. Essentially, a merchant account is an agreement between a retailer, a merchant bank and payment processor for the settlement of credit card and/or debit card transactions. If you’re a business owner in U.S. and would like to accept credit card payments, the short answer is Yes, you need a merchant account for your business.
Getting approved for a merchant account is easy! At Millennium Bankcard, we help you fill out your applications over the phone so you can digitally sign them. As long as you have a business, and a checking account, you qualify for a merchant account!
Merchant Account approvals typically take within 1 business day, in some cases it may take 2-3 business days.
Depending on the reason you’ve been declined, you may be able to solve the issue and re-apply!
We not only get your account approved, we also provide you with the set up. We do not provide support to syncing your merchant account on Woocommerce or your online store, however there are several reputable web design companies that can help you.
POS is ‘point of sale’. If you are seeing your customers face to face, you will benefit from using a POS machine to accept credit cards. We have plenty of POS solutions to fit your business.
It’s an online terminal you can access through a web browser, allowing you to access your merchant account on any computer.
We highly recommend to read our article for better understanding, How Online Payment Gateways Work?
It is a merchant service provided by an online application service provider that authorizes credit card or direct payments processing for e-businesses, online retailers, retail stores and/or companies who offer mail-in orders.
Read more about online payment solutions that we offer.