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Can a business accept credit cards on line...........? |
by using another businesses already established merchant services account thereby avoiding establishing their own merchant services account ? No. You cannot do this. It is called "factoring" (also known as money laundering) and is against the guidelines of all major credit card companies (Visa, MasterCard, Discover Card, American Express). The company that has the merchant account being used for the factoring will have their account closed, any funds they are owed held for at least 6 months, and will be banned from ever accepting credit cards through their own merchant account again by being added to the Match File (a blacklist for merchant accounts). To summarize. the credit card issuers companies do not allow it under any circumstances. Source(s): http://www.merchant-account-services.org... http://www.merchant-account-services.org... no Yea it's called PayPal This is one way to save business running cost. Although I like to believe that agreement needs to be reached for both vendors to agree on such an arrangement thus it could be a 50/50 fees payable. |
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