Merchant accounts and payment gateways are very different entities. Merchant accounts are typically offered by banks, while a third party company handles payment gateways. Merchant account providers control the entire process from application to chargeback resolution, where a payment gateway only handles the transactions.
Merchant accounts and payment gateways are very different entities. Merchant accounts are typically offered by banks, while a third party company handles payment gateways. Merchant account providers control the entire process from application to chargeback resolution, where a payment gateway only handles the transactions.
Merchant accounts allow you to accept credit card and debit card payments online via traditional internet processing or via mobile card readers. Merchant account providers offer several different packages, which vary by the fees you’ll pay per transaction and how many transactions you can process per month. Merchant accounts are best for established companies that have a long-term outlook in terms of generating income online through credit cards.
Merchant accounts allow you to accept credit card and debit card payments online via traditional internet processing or via mobile card readers. Merchant account providers offer several different packages, which vary by the fees you’ll pay per transaction and how many transactions you can process per month. Merchant accounts are best for established companies that have a long-term outlook in terms of generating income online through credit cards.
A payment gateway, on the other hand, is a payment processing tool that allows customers to transact with your business over the internet. A payment gateway integrates directly with your e-commerce platform and transmits your transactions in real time to the merchant account provider so they can be processed. Payment gateways are best for those who have an immediate need to process payments via the internet but don’t have a Merchant account or are looking for additional security when processing payments.
A payment gateway, on the other hand, is a payment processing tool that allows customers to transact with your business over the internet. A payment gateway integrates directly with your e-commerce platform and transmits your transactions in real time to the merchant account provider so they can be processed. Payment gateways are best for those who have an immediate need to process payments via the internet but don’t have a Merchant account or are looking for additional security when processing payments.
Choosing between a merchant account and payment gateway will depend on what you need as a business. If you’re looking for a more traditional way to process payments and want the security of an established Merchant account provider, then go with a Merchant account. If you need to start processing payments immediately and want a more streamlined process that’s integrated with your e-commerce platform, then go with a payment gateway.
