Merchant account is a type of bank account that allows businesses to accept payments by debit or credit card. So the merchant account is an agreement between a retailer, a merchant bank and payment processor for the settlement of credit card or debit card.
If you are running an e-commerce business and want to accept credit card payments online, you will need at least one internet merchant account (even if you already have a merchant account, in most cases).
An internet merchant account specifically designed to handle online credit card payment processing. If you already have a merchant account, you may notice that another difference between the two is cost, usually cost of Internet merchant account is higher because the risk is higher.
You might be able to get internet merchant account from your bank (the same place where you have a merchant account for your offline retail businesses.
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