Definition

Handling payments through secure websites or apps to accept credit and debit cards. Fast and safe processing makes selling online smoother.

What to consider

  • Compare service fees and support.
  • Ensure seamless integration with your systems.
  • Review contract terms carefully.

Real world scenarios

  • A retail store sets up merchant services to accept credit and debit card payments.
  • An online business uses merchant accounts to streamline transactions.
  • A small service provider integrates point-of-sale solutions for in-person sales.

Related terms

Entrepreneurial Finances