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Credit Card Applications » Questions » User Questions » Limited/Bad/Fair Credit » What does the term ‘merchant account’ refer to?

What does the term ‘merchant account’ refer to?

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This term merchant account refers to the an account held by the merchants who accept various payments on the goods and services they sell, that have been purchased by consumers through credit card or debit card payments. It is also regarded as an agreement between the store owner, and the bank to ensure the account is settled.

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