Merchant Definition
A type of bank account that authorizes merchants to accept credit or debit card payments online. Serves as a contract between a retailer and a credit card processing company.
Why Have a Merchant Account
Having a merchant account (Global Payments Integrated) allows our customers to remove the middleman when it comes to their transactions and managing them. Their payments go directly from payment to their merchant account instead of through the gateway, to a merchant account, and then to their account. They also take less risk and responsibility when they have a merchant account, so it is a win for them all around.
Key Benefits
Not only does CivicPlus Payments offer convenience, but it also takes the burden from communities, and their finance and IT teams to take on the risk of maintaining and monitoring merchant processing responsibilities and vendor relationships.
With Global Payments Integrated, local governments benefit from the convenience of CivicPlus Payments. Benefits include:
Maintaining a single merchant account and payment gateway to process payments
Maintaining relationships with payment processors
Ensuring digital financial compliance requirements are met
Managing refund requests and charge-backs
Global Payments Integrated also provides:
Next day funding
Support for the latest secure digital transaction technology with EMV
Smart payment transactions (chip cards)
Consolidated, real-time reporting across products and third-party software
Set up up recurring payments by storing customer cards on file in CivicPlus’ secure data vault
Ability to automatically update credit card data each night for expired or lost cards to prevent declined transactions