Obtain an Employer Identification Number (EIN) from the IRS .
You cannot use a personal account; you need a business checking account where the merchant provider will deposit your cleared funds. 2. Choosing Your Setup Path account merchant set up
Before applying, ensure your business is legally established to meet the strict "Know Your Customer" (KYC) regulations required by financial institutions. Obtain an Employer Identification Number (EIN) from the IRS
Setting up a merchant account is a foundational step for any modern business that wants to accept credit cards, debit cards, and digital wallets. Unlike a standard business bank account, a merchant account acts as a temporary holding area that facilitates the secure transfer of funds from a customer’s bank to your own. 1. Preparation and Core Requirements Choosing Your Setup Path Before applying, ensure your
You generally have two options for setting up payment processing: