Merchant Service Account

What Are Merchant Accounts… And Why Do You Need One?

A merchant account is a must-have if you want your business to accept debit and credit card payments.

The good news is that 123Send, an expert payments service provider, can help arrange everything for you. We work with all the major UK merchant services providers, so we can advise on the best one for your business and put you in touch.

The money you take from card purchases will go into your merchant account first, before it’s transferred directly to your business bank account.

A merchant account is simply an online bank account set up with an independent payment processor – so it’s separate from your business bank account.

Your merchant service provider (also known as an acquirer) will ensure the funds are available on the card being used for the transaction, and we’ll manage the whole process through to settlement of payments into your bank account.

As your merchant account processes each card transaction, it deducts either a percentage or a flat-rate fee (depending on your contract) and then it deposits the remainder in your bank account.

You’ll then receive a statement at the end of each month detailing all your card sales and refunds.

We use our 20 years of experience and expertise to ensure the whole process is simple, automatic and stress free.

Health Check Service

Trading is tough right across the retail, service and hospitality sectors, so you need to make every penny count. That’s why it makes sense to check your card payment provider is delivering unbeatable value for your money.

The 123 Health Check is designed to do exactly that. Our independent business model enables us to scan the entire market, unlocking deals and accessing savings unavailable to our competitors who are tied to specific providers.

Find out more