A merchant account is a special bank account that can receive money from credit card and debit card payments. It is different from your normal business bank account and doesn't need to be with the same bank. The bank that your merchant account is set up with is known as an ‘acquiring bank’ or ‘acquirer’.
We will assist you in setting up with a merchant account when you apply for using our gateway services. Before accepting you as a merchant, some standard checks of the business background and financial status will be carried up. Assuming these checks are successful, a unique Merchant ID (MID) will be assigned to you.