About Merchant Services
The area of merchant services can sometimes be complicated and can often cause confusion amongst business owners who need to use card machine payments. Wireless Terminal Solutions are experts in this area and we hope to make things as simple as possible for our merchant services clients.
Business owners sometimes confuse merchant accounts with bank accounts. They are two totally separate things. A bank account is where your business funds are stored. A merchant account is a credit account arranged between the merchant and acquiring bank. Not all acquiring banks offer the same merchant services.
There is a common misconception that you need to get your merchant services from the bank your business account is with. This is not the case – you can bank with one financial establishment and have your merchant services account with another. There is no extra cost to have this facility. This allows you to shop around for the merchant service best suited to your needs.