Merchant Accounts Massillon OH

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

Mortgage Net Corporation
(330) 492-6222
3930 Fulton Dr NW
Canton, OH
Lasalle National Leasing Corporation
(440) 846-8810
15300 Pearl Rd
Strongsville, OH
Rockwell Financial
(440) 439-1127
26285 Broadway Ave
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Genesis Underwriting
(216) 595-2769
25550 Chagrin Blvd Ste 300
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World Book Financial Services
(440) 835-3230
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Firstar
(740) 859-2153
100 William St
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American General Financial Services
(330) 345-8004
2827 Cleveland Rd
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Scott Fetzer Company
(440) 835-3230
865 Bassett Rd
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American General Financial Services
(419) 866-4333
5950 Airport Hwy
Toledo, OH
American General Financial Services
(740) 622-6774
145 Downtowner Plz
Coshocton, OH

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Merchant Accounts vs. "Ordinary" Bank Accounts

A merchant account isn't the same as an ordinary bank account even though you can set one up through an ordinary bank. Credit merchant 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.

The Merchant Account Application Process

When your application for a credit card 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 success and risk of the merchant account 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 credit card processing account.

Types Of Credit Card Merchant Accounts

There are two different kinds of merchant card 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 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 and online 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 credit card is charged for the purchase price.

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Featured Local Company

Merchant Warehouse

866-599-3217
Akron, OH


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