"A merchant account is a type of bank account that allows businesses to accept payments by debit or credit cards. A merchant account is established under an agreement between an acceptor and a merchant acquiring bank for the settlement of payment card transactions. In some cases a payment processor, independent sales organization (ISO), or merchant service provider (MSP) is also a party to the merchant agreement."
BancBox currently operates under a "bring your own" merchant account model. BancBox allows the flexibility for companies to use a solution they have already integrated and prefer, or work with a BancBox partner to acquire a merchant account. The BancBox platform can then collect funds from the merchant account, store these in an FDIC insured account(s), and send these funds all using our APIs. BancBox is built to handle the most complex funds flows and working with a merchant account is no different.
Visit www.bancbox.com for more information.