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Podcast: B2B Vault: The Biz To Biz Podcast
Episode: Gateway or merchant account? Do I need one or both? | What is a gateway? | B2B Vault | Episode 170
Description: Demystifying Payment Processing 101
Gateway vs. Merchant account
What is a gateway?
Popular – gateways – but there are many now - Auth.net – NMI
What is a merchant account?
Understanding the difference is crucial for businesses.
A payment gateway acts as a virtual terminal, sending transaction data between the customer, the business, and the payment processor.
Uses – virtual terminal - text – email requests, invoicing, e-commerce.
A merchant account is a “bank account” that allows businesses to accept credit cards,ach, and other electronic payments from customers, and...