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...