Merchant Account
A merchant account is a bank account that is used specifically for the purpose of collecting proceeds from bank account and credit card payment transactions.
- A Card Not Present (CNP) merchant account is used by merchants who receive payments electronically or in situations where payment is not physically presented to the merchant by the consumer at the time of the transaction.
- A Card Present (CP) merchant account is used by merchants who receive payments in a physical location, where payment is physically presented to the merchant by the customer at the time of the transaction.
If you don't already have a merchant account, you can obtain one while signing up for a payment gateway through Authorize.Net. The second half of the application deals with the optional merchant account.
About Authorize.Net
Authorize.Net manages the submission of payment transactions to the processing networks on behalf of its 284,000+ merchant customers. Since 1996, Authorize.Net has been a leading provider of Internet Protocol (IP) based payment gateway services, enabling merchants to accept credit card and electronic check payments from websites, retail stores, mail order/telephone order (MOTO) centers or mobile devices.
Copyright © 2010 Authorize.net and Web Maestro. All Rights Reserved. Authorize.Net and related marks are trademarks of CyberSource Corporation
