Merchant services are provided by specialized companies

Merchant services enable you to process credit card payments from your customers. It’s a special account tied to a credit card processor that works with your customer's bank to help route payments into your bank account. Merchant services are provided by specialized companies called merchant service providers or independent sales organizations that offer payment processing. Another source for setting up merchant accounts is financial institutions. It depends on your business situation. A home-based business owner may be turned down from a bank since their business is less established. Merchant service providers and independent sales organizations can be more flexible. While one person may feel comfortable dealing with their local bank, another might prefer a credit card processor who offers low rates.