What is a Merchant Account?
A merchant account is a type of business bank account that allows a business to accept many forms of payment, including credit and debit cards as well as alternative payment methods such as wire, ACH, etc. Merchant bank accounts are necessary accounts for many businesses, especially for online Forex brokers. You can get a merchant account easily to accept clients’ funds with our merchant account solutions.
HOW TO OPEN MERCHANT ACCOUNT?
Before applying for a forex merchant account, we set forex company and bank account for you. We provide all apostilled company documents and send them to our partnered merchant account providers. We work with PCI-compliant and data secured merchant account providers like Charge. We make sure that your monthly processing volume is not capped and merchant account fees are reasonable. We help you to get approval from merchant account providers and integrate payment gateway API to your website.
HOW A MERCHANT ACCOUNT WORKS?
A payment gateway API allows merchant accounts like you to process credit, debit and alternative payments online. With a payment gateway, transactions can occur either via a hosted page, API, or an integrated traders room. Once customers submit their payment on the checkout page, the payment goes through the payment gateway, then to the payment processor, then through the credit card network and finally to the customer’s credit card issuer for authorization. If the transaction is approved, the funds will be transferred from the customer’s credit card to the merchant’s account. Once the funds get transferred into your merchant account, there is typically a waiting period before the funds make it to your normal business bank account. The average length of time you can expect to wait is an average of 3 days. However, this will differ depending on your payment gateway and the terms you agree to when signing.