Learn the Difference Between Payment Gateway and Merchant Account


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.

MerchantStronghold

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.
Location: Clearwater, FL, USA

Comments

  1. sultansaadApril 15, 2020 at 12:52 AM

    Online Payment Gateway Qatar provides the most versatile method for processing sales. From any online computer terminal you have the ability to process.

    ReplyDelete

Post a Comment

Popular posts from this blog

Why Cannabis Oil Is Big Business | Merchant Account for CBD

Image
Merchant Accounts for CBD CBD merchant accounts are our most in-demand product, for which we have proven domestic and offshore banking solutions for CBD merchants. Merchant Stronghold provides the best merchant services for your CBD Businesses . Legalization brings a lot of opportunities, including many that are unexpected. One of the biggest areas for expansion is cannabis oil. Cannabis oil can mean a lot of different things but most importantly, it’s giving consumers and entrepreneurs a new way to explore and benefit from the marijuana industry. Here’s why cannabis oil is big business, and how any entrepreneur can tap into this nascent market. The cannabis oil market is huge There are many different kinds of cannabis oil on the market. All of them are growing in popularity. The CBD market alone is predicted to reach $22 billion in 2022, according to Brightfield Group. The CBD market is blossoming CBD, short for cannabidiol, is the main non-psychoactive
Read more

How to avoid TMF or MATCH LIST?

Image
Firstly, follow the lawful business practices to never get quarantine by the Banks. After that you can avoid the following situations: Never try any kind of fraud Decrease the number of chargebacks Pay the debts on time If you owe any amount to the bank, try to return it in the stipulated time frame Finally, get an expert to help you with the troubles How to Get Off TMF List? If you are under the TMF list then the previous merchant service provider can help you understand the exact reason for your query. You need to reach out to the previous bank that offered you the merchant services. For that, you can contact their support number or send an email. Otherwise, the MasterCard generally put the merchant for 5 years in the MATCH list In the case of fraud, you are highly unlikely to get off the list. You need to know the reason and the reason code, under which you are added to the MATCH. Talk to the bank executive for the reason and take notes of the reason co
Read more

Important Factors of Merchant Account Processing

Image
You are new to the business or have lots of experience, you still might have some misconceptions about it. Not Worth the Time  – Firstly, entrepreneurs find that they have the  best payment processing  with the banks, some businessmen don’t care about the ease they get while doing the transactions through a merchant account. Expensive Affair  – Yes, the merchant accounts don’t come cheap, but they are not costly either. They just tell you the fees in a package where all the things are segregated and revealed as one. As well as the providers tell you the fees in percentage so, you have a clearer perspective on the rates. Misleading Promotion  – The misconception is that the service providers prevent the facts and sell the merchant accounts in higher percentages or give out misleading information as a result of non-formal training and burdened pressure to close a deal. Independent agents have a bad reputation for failing to disclose some of the more serious terms of the
Read more