Explaining a Merchant Account
A merchant account is a type of bank account that allows businesses to accept payments by payment cards, typically debit or credit cards.
You can apply for a merchant account through your bank or you can apply through different payment gateway providers.
Barclays – http://bit.ly/17o73EO
HSBC – http://bit.ly/17o723D
Natwest (WorldPay Streamline) – http://www.business.natwest.com/afb/public/nwb/AFBRoot/mainhome/startups/cardsandpayments
A merchant account has a merchant number associated with it. You will need your merchant number to connect with a payment gateway. There are different types of merchant numbers. There are charges involved with having a merchant account. Some merchant providers charge separately for each merchant number. For details on all charges please contact your merchant provider.
E-commerce merchant number – allows you to process payment via your website. The customer makes a booking and enters their own card details.
MOTO merchant number – allows you to take a payment from a customer without the customer being present. A MOTO number enables you to take payments over the phone. You can do this via a PDQ terminal or via a payment gateway attached to the back office of Anytime Booking.