How Does a Merchant Account work?

A Merchant Account is the most effective and simple tool for online payments. A Merchant Account is a special commercial bank account which allows payments from such credit cards as Visa, Mastercard, etc. It is linked to a company bank account where all payments are transferred to. There are several stages which can be seen below:

Transferring the money from your customer’s credit or debit cards and into your account involves several stages:

Thefirst is actually approving the sale and taking the customer's card details on your website.

Next, the card has to be verified and approved, to check that it has not been stolen, or has expired. After the card has passed rigorous security checks, your merchant account provider (or online authorisation company) then passes the details to their credit card processor, who then debits the customer's credit card and deposits the money into your merchant account. Processing of a payment usually takes between 1 to 2 days.

 Key benefits of using merchant service:

  • Acceptance of payments, i.e. sale of goods, available 24/7;
  • Processing of up to 5,000 transactions  a minute;
  • Privacy of transactions;
  • Minimisation of tax burden for any businesses;

Eltoma Corporate Services provides merchant account registration in over 30 foreign jurisdictions. We can assist you to choose the best jurisdiction for your merchant account registration, as well as to prepare a successful tax planning strategy for your business. Our business solutions are scalable to meet the demands of any size business. Please, dont hesitate to contact us if you require any further information.




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