Hosting - E-Commerce - Merchant Account
A merchant account is a special account provided by a bank that is a member of the Visa-MasterCard association. Once you have a merchant account set up, you can accept credit card information from customers. A merchant account for online use is typically referred to as a MOTO Discount Rate (Mail Order/Telephone Order) account. It will differ in terms and regulations from a standard merchant account due to the risk involved since the merchant is not physically seeing either the customer or the credit card, which increases the chances of fraud or chargebacks.
