A merchant services account is established with an organization (generally referred to as a payment processor or a merchant acquirer) that has relationships with the various organizations that allow the processing of electronic payments when your customers want to pay for goods and services.
https://www.chasepaymentech.com/merchant_account_services.html
A merchant account is a type of bank account that allows businesses to accept payments in multiple ways, typically debit or credit cards. A merchant account is established under an agreement between an acceptor and a merchant acquiring bank for the settlement of payment card transactions. In some cases a payment processor, independent sales organization (ISO), or member service provider (MSP) is also a party to the merchant agreement.
https://en.wikipedia.org/wiki/Merchant_account
Merchant Services Account for Any Size Business. Establishing a merchant services account* and executing a merchant processing agreement are the first steps to get you started with credit card processing.
https://www.chasepaymentech.com/merchant_account_services.html
Some fees are set by the merchant account provider, but the majority of the per-item and percentage fees are passed through the merchant account provider to the credit card issuing bank according to a schedule of rates called interchange fees, which are set by Visa, Discover, and Mastercard.
https://en.wikipedia.org/wiki/Merchant_account
An Internet Merchant Account is therefore a crucial part of the ecommerce process. The components of an Internet Merchant Account. In order to use a Merchant Account to accept credit card payments through a website, a few interlinked components are required. The Payment Gateway. This is what allows the business to accept a customer’s unique billing information (i.e. credit card information), which is used to initiate the payment process.
http://paymentsafrika.com/payment-news/online-payments/how-internet-merchant-accounts-work-in-south-africa/
The statement fee is a monthly fee associated with the monthly statement that is sent to the merchant at the end of each monthly processing cycle. This statement shows how much processing was done by the merchant during the month and what fees were incurred as a result.
https://en.wikipedia.org/wiki/Merchant_account
Experience the powerful products and superior service that comes with a merchant account from Chase. Get the merchant account that can help you control costs and grow your business. It all starts with a Chase Paymentech merchant services account.
https://www.chasepaymentech.com/merchant_account_services.html
All you need is the Chase Mobile Checkout app, our card reader and a Chase account to make your business as mobile as you are. With a Chase merchant services account, funds are typically deposited directly into your checking or settlement account within 2 business days from settlement**.
https://www.chasepaymentech.com/merchant_account_services.html
1 This is what allows the business to accept a customer’s unique billing information (i.e. credit card information), which is used to initiate the payment process.  The Internet Merchant Account. This is what allows the business to accept the credit card payment online and process it via a financial institution or bank.
http://paymentsafrika.com/payment-news/online-payments/how-internet-merchant-accounts-work-in-south-africa/
1 The Payment Gateway. This is what allows the business to accept a customer’s unique billing information (i.e. credit card information), which is used to initiate the payment process.  The Internet Merchant Account.
http://paymentsafrika.com/payment-news/online-payments/how-internet-merchant-accounts-work-in-south-africa/
what is an internet merchant account
An internet merchant account is a type of bank account that allows businesses to accept payments in multiple ways, typically debit or credit cards.