Merchant Accounts

To trade online you need to set up an internet merchant account with an acquiring bank.

A merchant account is an agreement with a merchant bank that allows you to accept payment by credit and debit card. This is a separate account from your business account and because not all banks are acquiring banks, you can have an internet merchant account at a different bank from the one where your business account is located.

There are various types of merchant account available depending on how you want to accept card payments. For example, to take transactions in a shop using a physical terminal you would need a Cardholder Present merchant account. To accept transactions over the Internet, you will need an Internet merchant account, or to accept transactions via mail order or over the telephone you will need a Cardholder Not Present merchant account (this is sometimes called a Mail Order Telephone Order or MOTO merchant account).


Internet merchant number costs

All the banks have different requirements and fees. The rates you will be charged depend upon a number of factors such as the length of time your business has been established, what type of goods you sell and your turnover. Consequently, it is difficult for us to estimate how much this will cost you.

However, you will usually be charged a set up fee, a percentage rate for credit card transactions and a flat rate for debit card transactions. Over time, as you build a relationship and business history with your bank, you can usually re-negotiate these rates.

Protx work with all major UK acquiring banks. For further information on the banks we work with click here.

For further information on internet merchant numbers and currencies, please visit our support website.

For further information on recurring billing and continuous authority merchant numbers please click here.

For information on Direct Refunds please click here.