Let’s kick off with a one of the most frequently asked questions. A merchant account is part of a merchant service. In essence, this is a category specifically relating to the payment industry which consists of financial services to help businesses accept and process payments. A merchant account is different to the traditional business bank account and allows businesses to receive money from debit and credit card payments. The popularity in the UK has surged in the decade. Most source their merchant accounts from “Acquiring Banks,” but they can also be sourced from ISO, independent suppliers or resellers.