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A merchant account is a specialized bank account that enables businesses to accept electronic payments, particularly debit and credit card transactions. It acts as an intermediary that can hold funds from customer payments before they are transferred to the business. This process ensures that businesses can efficiently and securely process payments, which has become essential in today’s growing cashless economy. Transactions undergo several steps when customers pay with credit or debit cards. |
First, the payment processor sends the transaction details to the card issuer to verify the availability of funds and to confirm the transaction. The card issuer then authenticates the transaction to ensure no fraudulent activity is taking place. Once verified, the issuer approves the transaction, and funds are put aside to transfer. The approved funds are then sent to the merchant account, where they are temporarily held. After 1-2 business days, funds are moved from the merchant account to the business’s bank account. |
Payarc offers tailored solutions to meet the unique payment processing needs of businesses. Whether you operate a retail storefront, an e-commerce platform, or a mobile business, Payarc provides seamless integration with your existing systems, including Curv POS solutions for an optimized payment experience. Our offerings include competitive fee structures, advanced AI-powered fraud prevention tools, 24/7 customer support, and no hidden fees, ensuring complete transaction transparency. By partnering with Payarc, businesses can make informed decisions that align with their needs and goals while focusing on building growth and success.