Understanding your merchant account
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Understanding your merchant account
Merchant accounts are basically bank accounts that allow you to accept credit card payments. You can set up a merchant account on your own or as part of your shopping cart software. If you don't want to accept credit cards online, you can ask people to pay by check or something like PayPal. If you do set up an online merchant account, you'll typically pay a fee per transaction and a percentage of the amount charged. Some merchant accounts charge you a monthly fee even if you have no sales that month so make sure you understand the details of your internet merchant account before you commit to paying more than you can afford.
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