It is a type of bank account that permits businesses to accept payments by debit or credit cards. Moreover, the merchant account is an agreement between a retailer, a merchant bank and payment processor for the settlement of credit card and/or debit card transactions
Whenever a customer pays for any product or service with his/her credit card the amount is first deposited into the merchant account. After that, it gets transferred to the business bank account. Generally, transfers to the business account are usually done on a daily or weekly basis.
In your eCommerce business to receive online payment via credit card, you required one internet merchant account.
