Merchant Account Dundalk MD

Merchant accounts aren't the same as ordinary bank accounts even though ordinary banks provide them. These accounts allow a business to accept credit cards as payment for goods and services.

Local Companies

Canton Group LLC
410-675-5708
2920 Odonnell St
Baltimore, MD
Full Burner LLC
410-276-0386
3241 Odonnell St
Baltimore, MD
Jamie Braman Web Design
410-707-6495
1000 Fell St
Baltimore, MD
BizPro Solutions
240-838-4722
1 E Lexington St
Baltimore, MD
Alabanza
410-244-6592
10 E Baltimore St
Baltimore, MD
Bridge Resume Services
410-727-2400
1035 N Calvert St
Baltimore, MD
I D Five
410-837-5555
225 E Redwood St
Baltimore, MD
Light House Studio Inc
410-783-5787
2 E Read St
Baltimore, MD
Emagination
410-234-1500
1030 Hull St
Baltimore, MD
Groove Commerce
1-800-564-9826
1705 William Street
Baltimore, MD

Provided by: 

Merchant accounts aren't the same as ordinary bank accounts even though ordinary banks provide them. These accounts allow a business to accept credit cards as payment for goods and services. In a way, merchant accounts act as a contract between the business owner and the bank. Rules defining how products will be bought, sold and paid for are set; any violation of these rules is considered fraud.

When your application for a merchant account is being considered, two entities participate an ISO (Independent Service Organization) and an underwriter. Usually the ISO also serves as the underwriter. The ISO evaluates the future the success and risk of the merchant applicant and approves or denies an account. If the merchant violates the terms of the merchant account agreement, the underwriter/ISO will shut down the account.

There are two different kinds of merchant accounts available, the ”Over-the-counter” (OTC) and the ”money-order/telephone-order” (MOTO). Over-the-counter merchant accounts are used primarily for retail merchants. These types of merchant accounts typically have lower discount rates and transaction fees because the customers’ credit cards are physically present at the point of transaction.

Money order/ telephone order merchant accounts are used primarily for Internet-based businesses. The transaction requires two steps instead of one. Once all of the card information is entered, the data is verified and then the money is subtracted from the cardholder's limit and placed in a 30-day holding account without actually charging the card. After the product is shipped the card is charged for the purchase price.

Click to read more from TopTenReviews.com

Featured Local Company

Canton Group LLC

410-675-5708
2920 Odonnell St
Baltimore, MD

Related Local Events
The 2009 Federal Technology Policy Forum
Dates: 7/15/2009 - 7/17/2009
Location: The Performance Institute
Arlington, VA
View Details

International Aid + Trade Event - Building Partnerships for Relief and Development - Exhibition and 2009
Dates: 7/9/2009 - 7/10/2009
Location: Ronald Reagan Building and International Trade Center
Washington, DC
View Details

SANS WhatWorks Summit in Forensics and Incident Response with Rob Lee
Dates: 7/5/2009 - 7/15/2009
Location: The Fairmont Washington, D.C.
Washington, DC
View Details

Gartner IT Security Summit Washington
Dates: 6/27/2009 - 6/28/2009
Location: Gaylord National Hotel & Convention Center
National Harbor, MD
View Details

First Look: Windows Vista for IT Professionals
Dates: 6/11/2009 - 6/11/2009
Location: Source - Hunt Valley
Hunt Valley, MD
View Details

Rss   Delicious   Digg   Add To My Yahoo   Add To My Google   Bookmark   Search Plugin

Topics:
Advertising Family Home Services Real Estate Resources
Business Services Fashion Industrial Goods & Services Retail & Consumer Services
Career Financial Services Insurance Software
Cars Food & Beverage Internet Technology
Computer Hardware Franchise Legal Telecommunications
Construction Health Miscellaneous Trade Shows
Education Holidays Nightlife Travel
Entertainment Home Appliances Online Database Weddings
Environmental Home Electronics Pets World History