Square Merchant Services: Best for Startups. Stripe is one of the leading merchant services providers out there. This rate determines the amount your nonprofit will pay per donation or transaction. Navigating the onboarding process with an acquiring bank is always easier with the assistance of. National Processing: Best For Clover Processing Hardware. The bank then sends the information to the card issuer. PayCly is an acquirer that has state-of-the-art payment solutions, such as high-risk merchant accounts & international payment gateway, for your business and helps you achieve your goals. An online payment gateway has a quite important function in the whole payment process, as it virtually connects the wallets of customers with gaming merchant accounts to create a transaction space. The Indus Merchant Solutions app currently has English as default user interface language. Why online gaming merchant account is considered high-risk. Make sure your website is up-to-date and functional. In order to get and maintain good standing with your service provider, you must meet. Merchant Services processing funds must be settled into a Bank of America business checking account. A merchant account allows you to accept payment anywhere, anytime, without having to receive cash or checks. Simply click the links below to get started. Applying for Your Merchant Account. Stax: Best for Subscription Pricing. The right processor supports your sales channels and offers pricing transparency. Funds will be held in the merchant account until the transaction is approved between the customer’s bank, which is the card issuer, and the. An online gaming merchant account is a business account used to process payments of the customers/players. The card network sends a confirmation to the acquiring bank via a payment gateway and informs it of the amount to be debited from the customer's account. The bank then sends the information to the card issuer. A. With the increase of Gaming site in today’s world, the need to enhance your transaction surges. Getting a merchant account for online gaming can be tricky as this industry falls into the high-risk business category due to a high chargeback rate. While both payment gateways and merchant accounts are essential for online poker businesses, we serve distinct purposes. The gaming merchant account business is booming, and every day, new merchants…iPayTotal specializes in both online gaming merchant accounts and online gaming payment gateways and offers the best gaming merchant account in the industry. Credit card merchant accounts from Instabill are affordable, reliable and allow you to watch your business grow and thrive. The company is rare among merchant services providers in that it fully discloses its pricing on its website for anyone to view. A merchant account is a type of bank account that allows businesses to accept payments from customers via credit cards, debit cards, and other payment methods. An online Gaming Merchant Account has become an essential tool for the growth of gaming businesses. With a merchant account from Instabill, we offer live support. Advantages and Limitations of Stripe as a Merchant Account Provider. GBO assist to online lottery business and gaming companies to open bank accounts – contact us for details. Browse short-form content that's perfect for a quick read. While the codes of 7994 and 7999 are considered medium risk, 7995 is classified as a high-risk business. A merchant account is a type of business bank account that allows businesses to process electronic payments such as debit and credit cards. Read More. Getting a regular online gaming merchant account is a difficult task due to the refusal of banks to co-operate with gaming merchants. The online gambling industry is vast and like other industries has many hurdles to overcome. We are a financial advisor delivering high-risk payment gateway solutions to businesses labeled as high-risk such as online gaming, tobacco, adult services, etc. With these criteria in mind, let’s look at our top seven high-risk merchant account providers: PaymentCloud: Best For Free Credit Card Terminal. Step 2: You will be asked to fill out the application. MCC codes can also effect the merchants processing rates. When you click on. Durango Merchant Services: Best for highest-risk businesses. 4 billion in 2024. The customer's credit card information is sent to the merchant's acquiring bank. The code 7995 can be used to prevent transactions coming from states that don't allow online gaming. Account Se-up or Installation fee. FintechMerchantAccounts is leading the market when it comes to providing casino and online gaming merchant accounts. All you have to do is follow the steps below. In general, online casino-style games require a Class 1 license. It. 1. Donor Info Goes to Database. If the ratio of money-back incidents goes beyond the decided limit, they cannot keep the account of a gaming merchant. Shopify: Best for. Square Merchant Services: Best for Startups. $15 monthly fee ($12 for nonprofits) Interchange + 0. However, normally players give priority to comfort more than security. A Bank of America business checking account is required to apply for a Merchant Services account. Payment Switch: Key for an Efficient Payment Process . Stripe is one of the leading merchant services providers out there. National Processing: Best For Clover Processing Hardware. Claim your card reader. Get A Business License. net: Best for fraud prevention. Read Our Another Blog. A merchant account holds on to funds before they’re transferred to the merchant’s primary business bank account. You can begin the process by just applying online now. A credit card merchant account is a special type of bank account. Learn more. The next thing you’ll need to do before setting up a merchant account is get a business bank account. – A computer virus may technically impact your gaming. Merchant accounts are just like any bank account, and each one has a different rate. Therefore, you will want to accept all card brands on your site. While every business needs a business checking account, companies that accept payment by credit and debit cards must also have a particular kind of account that allows them to. Typically, a merchant account is used for credit card processing and eCheck processing but can be used. Online gaming business merchants should properly consider their choices when it comes to preferring an online casino merchant account. Examples of merchant accounts include PayPal, Stripe, Square,. Step 2: You will be asked to fill out the application. Once approved, the merchant account deducts the transaction amount from the customer’s credit card. An online gaming merchant account is a business account used to process payments of the customers/players. Stripe: Best Online Processor. It affects customer experiences, your finances, and more. All the basic online functions you’d expect, like account balances and transfers, plus: · Enroll for mobile or online banking through Merchants mobile app · Initiate mobile deposits · Quick and. The gaming business merchants are called high risk merchant accounts because of the following reasons: The gaming business has a high volume turnover which is considered a risk factor by banks. Merchant accounts are typically set up by merchant banks or payment processors in order to process payments. Why is a Gaming Merchant Account Important for the Gaming Industry? Any online business must have a merchant account. The gaming business merchants proffer all kinds of gambling in the form of casinos, sports wagering, online poker, online bingo and mobile gaming. Online payments . An online gaming merchant account from a high-risk merchant account provider can give you a way to process online payments without a bank or an electronic wallet. 9% + 30¢ online. Underwriting is necessary for opening a merchant account. At PayFasto, we like to believe we offer the best gambling merchant account of 2023. Getting a merchant account for online gaming can be tricky as this industry falls into the high-risk business category due to a high chargeback rate. It streamlines the. A Canadian merchant account is a specific type of bank account that allows merchants to accept payments. We at HRG will help you get the Online Gaming Merchant Account that will allow you to safeguard your business transaction by providing a safe and secure payment transaction. How to Use Payment Orchestration Platform . A certified copy of your ID. After an online game retailer demanded an online payment option, this. Credit card processing online gaming merchant accounts are useful to take credit and debit card payments. Your chargeback rate should be less than 2%. Obtain the new Curacao Gaming License and convert your Sub-License to the new Master-License. 1. Integrated software to automate accounts payables and receivables. Animals and Pets Anime Art Cars and Motor Vehicles Crafts and DIY Culture, Race, and Ethnicity Ethics and Philosophy Fashion Food and Drink History Hobbies Law Learning and Education Military Movies Music Place Podcasts and Streamers Politics Programming Reading, Writing, and Literature Religion and Spirituality Science Tabletop Games. Payment Gateways for Online Gaming. With this merchant account, you’ll get several features to rely on. A merchant account is a type of bank account that allows a business to accept credit card payments, and it requires the completion of a merchant application and an underwriting process. The gaming industry has been booming over the past decade, and. You’ve found a payment processor that has full online gaming merchant account solutions and knows the gaming industry. This account acts as a conduit, facilitating. For more details & information, you can even chat with us online. Online Gaming and Gambling. The high-risk merchant account provider should be able to provide a customized payment platform for its merchant web, app & mobile. This is a dedicated account that is separate from your personal bank account, and it is the account your business’ money will flow into. Clover: Best for POS. 976. Its job is to enable payouts and player rewards, as well as to take deposits and payments. These new rules are set to kick in over the weekend, multiple. A payment gateway for online gaming must provide effective tools for risk and fraud management, and have the highest level of PCI compliance. Modernize and automate your invoice-to-pay process. Customarily, merchants are astonished and confounded when they are informed that the web based gaming. One of the most important goals of online gaming merchants is turning players into payers. To lessen the burden on our clients, we provide an easy and organized application process to help you get your gaming or casino merchant account in a matter of days. What Is A Merchant Account? A merchant account is a type of business bank account that enables a business to accept and process electronic payments (i. You’re bound to run into a chargeback sooner or later, after accepting many transactions. Step 1: A customer buys a product or service either online or in-store. Start accepting credit cards without the exorbitant rates through a bank-direct processor. Log in to Mobile & Online Banking to access your personal and small business accounts, see balances, transfer funds, pay bills and more. Chase Payment Solutions: Best if you also need a free business checking account. Any type of deposit with the bank transfer could barely span over 2-5 working days. A merchant account is a business bank account required for businesses to accept debit and credit card transactions, as well as other forms of electronic payments. Payroll and HRWhile a merchant account is for the receiving and holding of funds from card transactions, a payment gateway is simply a consumer-facing interface that collects card data - an online checkout portal, for example. Certificate of incorporation. Make sure to include a link to your website. So how does it work? A gaming merchant account allows you to accept payments from your customers using various payment methods such as credit cards, debit cards, e-wallets, and even. A company's revenues from online gaming, on the other hand, can be maximized with the help of a trustworthy online gaming merchant account. It supports businesses of all sizes, offering both standard flat-rate and interchange plus pricing. When a customer pays for a product or service with a credit. It may come from an email attachment or a messenger. Reduced labor (and related costs) for payment processing. Defining Offshore Merchant Accounts. 3. You need a merchant account to get paid. That figure sharply rises among consumers with poor credit. An #offshore_merchant_account is a type of financial account established with a bank or payment processor located outside the merchant's home country. An online gaming merchant account is a payment processing account devoted to online gaming businesses. Our card payment processing options allow online casinos, sportsbooks, poker and lottery sites and more to access card processing facilities through the Xace Payment Network. S. In some instances, bank wire information is posted on individual gaming sites, and gaming operators frequently use wire transfers to pay customers. Majority of card processing providers consider it as high risk industry due to certain reasons. A merchant account is a type of bank account that allows your business to securely accept payments via credit cards, debit cards, and other electronic payment modes. US accounts take 3-7 days for approval. The funds from transactions are typically deposited directly into the business's bank account within a few days, allowing for faster access to capital. A merchant account is a business account that allows businesses to accept and process credit card and sometimes mobile transactions. Online fraud is a big issue for almost every online merchant. Your merchant account communicates with the customer’s card issuer. By offering alternative payment options, casinos can cater to the diverse preferences of their players and provide a seamless deposit and withdrawal experience. The PSPs must finish merchant onboarding quickly, so they don’t lose potential merchants. These accounts typically have higher. Direct Online Gaming Merchant Accounts for acceptance of both Visa & MasterCard at the absolute best rates, as well as additional alternate payment methods: Once you have your. GBO has the skills and experience needed from twelve years working with banks all over Europe to help you open business banking accounts thanks to our wide network of friendly banks. You may use it for online and brick-and-mortar companies to handle all debit, credit, and prepaid card transactions. To get an online merchant account instant approval, most merchants are advised to get in touch with the online gaming merchant account bank of their choice and file in their applications. Especially considered to be video games played. FYI – GBO is a premier payment solution provider for online casinos. Typical examples of merchant account service providers that utilise ISO merchant accounts include Lloyds Bank, Worldpay and HSBC Bank. With a 10-minute conversation, our merchant account experts can walk you through the possibilities at 1-800-530-2444. Contact our team for more information about our gaming merchant account application and get started accepting gaming credit cards. Read our Review. Gaming Merchant Account; General; Healthcare; High Risk Merchant; High Volume Merchant; International; Internet Marketing;. As soon as you’re approved, SecureGlobalPay can set up chargeback management tools and a payment gateway. With our gaming merchant account, you can do different currencies settlement; We have fraud scrubbing technique and technology system We provide full chargeback protection and reveal you with the fraudulent chargeback and cost; We provide the customized solution to meet all the business needs; We give cost effective solutions regarding gaming. Provide basic business, ownership, and contact information. co offers a full compliment of online payment solutions for high-risk businesses. These sales can be both onsite and online and the purchase will have been made using a credit card or electronic commerce. Merchant accounts are established under you and your business (the acceptor) and a merchant. Get a free card swiper from Square at no cost when you create a free account. 3. An easy application process. A payment reversal, sometimes called an ACH return or bank reversal, happens when a request is made for a merchant to reverse a transaction and return the. Every dollar transacted through their system could be charged back, potentially leaving the bank responsible for. By adding “processing gateway” to your business credit card and open merchant account you will be able to accept all types of cards and payments from your players. 9% + 30 cents for cards or 1% with a minimum $1 per transaction for ACH bank transfers (invoices only), and 3. Visit Site. The minimum share. The card association (MasterCard, Visa, Discover, AMEX) sends the information to the issuing bank (where the credit card was issued) 4. Visit the merchant account processor’s website. Also known as a tax ID number, an EIN is a unique. But having this account will not make you worry about any type of fraud. Leave your details, we'll be in touch. 23 March, 2023 . Through a merchant account, transactions can happen in multiple currencies and in varied payment methods such as credit or debit cards, online payments, bank statements, etc. Gaming merchant accounts allow merchants to accept direct deposits from players’ bank accounts so they don’t have to carry cash. Does. In addition to accepting credit. The best payment gateways provide a simple way to take and process credit and debit card payments online. Here’s an overview of how to prepare your business, find the right merchant account for your needs, and open your merchant account: 1. To complete the application process, you’ll need to provide various identification and paperwork. Businesses that plan to operate in the US need to register with the relevant government authorities before opening a merchant account. It is often associated with a payment processor installed within the website or application. PayCly is known for its excellent payment gateway services and provides online gaming payment gateway solutions for gaming businesses. It all depends on the online game providers and the bank you use. Tags: High Risk Business. A. Merchant account services refer to the financial services that enable businesses to accept electronic payments from customers using credit cards, debit cards, and other forms of electronic payments. Signed Off | F&M Bank. It’s also how cards get declined and why businesses are able to receive funds before a buyer pays off. Log in to your Farmers & Merchants Bank digital platform now, or find a branch location nearest you. While both are crucial for accepting online payments, their roles differ significantly. A merchant account is a business account with an acquiring bank. You’ll need a website for your business and the. When a customer disputes a transaction, it can have significant consequences for an online gaming merchant. A payment service provider (PSP) is an acquirer who offers payment solutions for your internet business. With a merchant account from Instabill, we offer live support Monday. Online Gaming Merchant Account is a high-risk account. Payment processing is critical to your gaming operations; without it, you will be unable to accept. Online gambling/gaming merchant accounts are very similar to fantasy sports merchant accounts because risk and skill are involved in both. Thus, eMerchantPRo provides a complete support and assistance for your online Gaming Business. Merchant Portal. 08 per in-person transaction & int. An account that is issued by acquiring banks that allow businesses to accept debit and credit cards. However, that’s easier said than done. Your customers will likely appreciate being able to use their credit cards especially for online payments. Most e-gaming operators have experienced difficulties finding a reliable service provider of bank accounts and merchant account facilities necessary for credit card transaction. 1. com or calling +44 (0)20 3005 4000. All types of online gaming merchants qualify for accounts including mobile gaming; social gaming, multiplayer video games; fantasy sports; online poker; racetracks, pari-mutuel wagering; and casinos. With a high-risk merchant account from a gaming merchant, you may process online payments without the need for a bank or an electronic wallet. The Social Gaming Merchant Account industry is viewed as high risk due to its high average chargeback proportions (cordial extortion is uncontrolled), legitimate hazy situations (when gaming meets betting) and the inborn fraud risks of any 100%-online business. 800. 1. Connected. Soar Payments: Best for. Read More » How To Get Merchant Account In USA: Everything You Need To Know. The bank where you have your merchant account is referred to as a merchant acquiring bank (sometimes just referred to as an acquirer). Whether it’s depositing funds, placing wagers or withdrawing winnings, online gamblers expect to. We help companies who need to acquire an online gaming merchant account and run a sustainable business. Whether you run an online casino, sell video games or virtual goods, or offer in-game currency and subscriptions, having a gaming merchant account is essential. The payment gateway services will. Or call us at 877-843-5690. Beyond that, SecureGlobalPay can also set up a fraud filter for your. According to a recent study, the online gaming market is projected to grow by $142. A gaming merchant account is a bank account that lets you accept payments from customers using credit cards or debit cards. When a customer pays for a product or service with a credit. Typically, a merchant account is used for credit card processing and eCheck processing but can be used for a variety of payment processing needs. Some of them are: • Gambling businesses generate high-volume turnover which increase the risk factor when an acquiring bank assesses. The valuation of active players also reached 2. Helcim : Best All-in-One Platform. *. As players immerse themselves in virtual worlds, the significance of a seamless…Submit an application form. It’s also free of monthly fees. ACH (Automated Clearing House) is used to deduct payments from gamersu2019 bank. In most of the scenarios,The usage of an online gaming merchant account enables companies to receive payments more quickly and easily from customers. To lessen the burden on our clients, we provide an easy and organized application process to help you get your gaming or casino merchant account in a matter of days. Adequate…If Your Business Is Associated with Fraud Or Illegal Activity. DigiPay’s expanded network of banking relationships processes payments for the gaming industry at competitive rates, terms and conditions. Generally, it allows your business to accept debit card and credit card payments. A flat-rate pricing structure is offered by Stripe: The essential features of any flow of payments in a gaming business is to allow for transfer of funds to and from eWallets, bank accounts, credit and debit cards or prepaid vouchers directly into or out of the gaming account quickly and easily to allow customers to start playing online whenever they want. Mobile banking; 24/7 customer support; Related Articles . Valid government ID of. Online gambling, is commonly known as gaming within the merchant services industry. 205. Best for businesses that want a wide variety of terminals and POS systems. US and international companies are welcome to apply. Customer can write on or call at our merchant contact centre number 022-66238000. The right gaming merchant account will offer multiple cashless payment options, including check, credit, online and mobile options. A Corporate Account for iGaming: We work with a variety of international payment institutions and financial institutions that cater to the online gaming industry. PayCly is known for its excellent payment gateway services and provides online gaming payment gateway solutions for gaming businesses. Easily accept payments from players. However, some payment service providers will happily provide payment processing services to you. It is perceived as a high risk industry by the majority of card processing providers for several reasons: Online. People could always find things that are new and might be more interesting to them after a while. Also, the merchant account providers always suggest the business owners to mandate at least a 12-to-16-character password for the gaming players. Employers. People have always enjoyed playing games of chance and skill; historical records show that the earliest dice games were played thousands of years ago, and that same passion and enjoyment for games and gambling has continued all the way into the. Here’s an overview of how to prepare your business, find the right merchant account for your needs, and open your merchant account: 1. This account is offered by an acquirer, a bank that is ready to work with a high-risk. These new rules are set to kick in over the weekend, multiple. You’ll get approval for a casino and gaming merchant account in just 24 hours. Requirements may vary according to different aspects. Whatever your payment needs, we offer the expertise and solutions to make you more money. Our picks for the best free merchant accounts include Square, Chase, Stripe, PayPal, and more. SMB Global: Best for international merchants. Merchant Discount Rate (MDR) or commission rate. The Best Merchant Account Services. ProMerchant: Best for High-Risk Businesses. Many of these fees recur on a monthly or annual basis, whether you process any transactions or not. Software Downloads. Unlike regular business bank accounts, which hold funds for a wide range of essential financial tasks, merchant accounts are used only to house funds from. The process is easy, so you can focus on more important things. Whenever a business exceeds a 2% chargeback ratio, credit card companies, such as MasterCard and Visa, can fine the processor that approved the online ticketing merchant. GBO offers turn-key solutions for obtaining the new Curacao gaming license – the Complete package: AML policies, corporate framework, Policies, procedures, and security to the new regulation requirements, also Curacao company formation, banking, merchant, white. 3. The gaming industry has been booming over the past decade, and. It is often associated with a payment processor installed within the website or application. If your application is accepted, there will be set up or activation fees involved. ACH is used to debit payments from players’ bank accounts. A merchant account is a specific type of bank account that allows merchants to accept payments. B2B. Quontic Bank: Best for Low Fees and High APY. ). Consumers can easily enjoy gaming and gambling online by virtual. After an online game retailer demanded an online payment option, this. Merchant accounts are typically set up by merchant banks or payment processors in order to process payments. Benefits of Online gaming merchant account. However, some pitfalls cause lots of troubles when it comes to processing payments. You may request a paper copy of an eStatement (for pickup or mail) by contacting Customer Service at 1. It’s a legitimate service that can be used by both physical and online businesses to process all credit, debit, and prepaid card payments. Account Se-up or Installation fee. Online gambling and gaming businesses merchant accounts The rise of online gambling was only possible because operators could provide payment processing alternatives. Credit cards remain popular banking methods because they are. Durango Merchant Services: Best For Offshore Merchants. Finally, fill out an application form for the account in question. A merchant account is a type of bank account that allows businesses to accept payments from customers via credit cards, debit cards, and other payment methods. 645. Square. You can access that website by entering the case code M2624LON. Connected. Step 3: The card issuer sends the purchase information to the customer’s bank or the issuing bank to approve or. eMerchant Authority offers payment processing options for both domestic and. A high-risk merchant account is a type of business bank account. They are connected to your website’s shopping cart via a secure, online payment gateway. Monday to Friday. How to apply for a Gaming Merchant Account. As soon as you’re approved, EMB can set up chargeback management tools and a payment gateway. GBO specializes in helping online gambling and crypto services companies to open bank accounts in Europe – both B2B and C2B. Debit and credit cards are the natural development for online video gaming. 24 February, 2022 . The internet has caused an explosion of new media and online gaming. A merchant account is a bank account wherein the payments from credit and debit card transactions are deposited. Gaming payment solutions require to accommodate diversity. Eskay Global LLC and Eskay Global Ltd, is a registered ISO of Wells Fargo Bank, N. You’ll need a website for your business and the. Cashier . 20% Average revenue increase for partners when they launch local payments through Xsolla. In the case of online gaming, many payment gateways will require the merchant to have a high-risk merchant account. They help legal online gambling merchants to accept credit card payments safely and efficiently. 00 per statement. These are just a few of the accounts EMB approves for fantasy. PaymentCloud: Best Approval Odds. Last three months’ bank statements. A merchant account is a specific type of bank account that allows merchants to accept payments. With the sharp rise in e-gaming popularity, Instabill can offer online gaming merchant account solutions – domestic and offshore – with competitive rates. It’s also free of monthly fees. As a gaming merchant, you need to be aware of the needs of your gamers and also what your business needs. An online gaming merchant account is a payment processing account devoted to online gaming businesses. The principal’s Social Security Number. When it comes to an electronic payment transaction, a business transmits card information through an. Payment processors can ensure businesses are compliant by properly categorizing the business when the merchant account is established. An online gaming merchant account from a high-risk merchant account provider can give you a way to process online payments without a bank or an electronic wallet. You can further break down this definition into the following points: How merchant services work: The behind-the-scenes processes that are required for a business to take and accept a payment. Apply Now. Think of it like this - the payment gateway is like the cashier and the merchant account is the cash register. Its job is to enable payouts and player rewards, as. But as mentioned, online gambling companies and other business entities like eCommerce, subscription-based services, forex, and exchanges also fall under the high-risk category. Many ecommerce businesses, particularly those in high risk industries, find it difficult to open a merchant bank account in their country of. 3 months of recent bank statements and a processing history. Accepting credit cards also allows your business to set up an online store where gambling merchant accounts customers from around the world can shop for your products and services 24/7, giving your businessDharma Merchant Services. We at HRG will help you get the Online Gaming Merchant Account that will allow you to safeguard your business transaction by providing a safe and secure payment transaction. With the sharp rise in e-gaming popularity, Instabill can offer online gaming merchant account solutions – domestic and offshore – with competitive rates. A. Step one is to set up a consultation. If you use the correct payment platform. Online Gaming businesses such as Lottery, Online casino, egaming etc. co differentiates itself by its people. A merchant account acts as a. A merchant account is a type of bank account that enables a business to accept payments principally by debit and credit cards. Domain Registration. k. Research Merchant Accounts. If you intend to run an online gaming platform, you will require a gaming merchant account. A gaming merchant account is a bank account that lets you accept payments from customers using credit cards or debit cards. EMB is dedicated to helping you process credit card payments effectively and efficiently. Learn about the process of opening a bank account for your online gaming and gambling company. Payment processors and partnering banks take on risk by providing merchant accounts for businesses. Many also offer additional tools such as payment gateways, virtual terminals, and point. Merchant account partnerships are also critical for online businesses. Instead, Stripe charges per transaction, with a higher online transaction fee than other. A 2022 report reveals that debit cards and credit cards are the preferred payment method in multiple countries, followed by ACH payments, mobile payments, gift cards, store credit, bank transfers, and PayPal. Businesses that plan to operate in the US need to register with the relevant government authorities before opening a merchant account. It’s used to receive payments from debit and credit cards. The Best Merchant Account Services. 20% + $0. From merchant accounts to payment gateways, from ACH processing to chargeback prevention. encounter many difficulties and obstacles when applying for credit card processing systems for their online websites. A merchant account is one part of an overall solution that makes it safer, easier and faster to get paid.