A credit card merchant account or commonly known as merchant account is a bank account that allows a business to accept credit cards as payment for goods and services provided by the business. It is a relationship or an agreement between the business (acceptor) and the bank (a merchant acquiring bank) or a third party such as www.charge.com for settlement of payment card transaction whether it is a debit or credit card. In the case of a bank, it also act as the collector of funds and depositor to the business bank account.

Do you need to have an internet merchant account? Having an account could increase your sales and services. It will allow you to accept credit cards and debit card transactions online. It will definitely increase your sales. Having a virtual merchant also gives your business more credibility. More people look for those logos belong to major credit card services such as Visa, Master Card, American Express, Discover and others.

In order for credit card processing online and debit card payments, an internet merchant account is needed. There are few things you need to consider in selecting a suitable provider for you. The provider should understand your business especially your volume and pricing mechanism. Look for experience providing online accounts. Fees charged for online and traditional merchant account could vary. Understand the provider fee structure. Sometimes your bank may not be the best provider for your business because they may have exclusive contracts. A third party such as www.charge.com could be a better fit for your business. More and more mobile credit card processing are becoming popular. Since this is critical step in setting up an internet merchant account, choose a provider with experience, reliability and one who understand your business.

Certain businesses are categorized as high risk merchant accounts. Some businesses are involved in moral or legal controversies. If your business is dealing with online gaming, adult oriented, and a pharmacy, you may be categorized as high risk merchant account. Some businesses are put into this category by the credit card companies because their business practices caused money losses to them. Some high risk merchant accounts include multi-level marketing, jewelry, debt collection and credit repair, electronics, herbal supplements, dating services, telemarketing and many other similar businesses. Check to see whether they allow mobile credit card processing. Be aware, these businesses will be charged higher fees for merchant accounts.