online merchant account

Online Shopping Cart, Payment Gateway, Merchant Account?

What do these terms mean and how they are different but related yes? Can you give popular examples of each? Simple English please!

On-line shopping cart is where you list the items you want to sell – EKM and Roman examples include purchasing systems (which use Roman Cart) Payment Gateway is how people are able to make payment once you have selected items from the shopping cart – Examples include Paypal (very popular) and NetBanx (a good alternative to Paypal, since there is no limits of the same transaction as Paypal) account Trade is an optional extra to complete the payment. You may accept payment through Paypal without NetBanx need a merchant account. These accounts are sometimes called Mesa. An account merchant is where you have a bank account to accept Credit Card payments online and offline. All major banks provide them. If you are only selling online, you will not need a merchant account. Even if you have a merchant account and want to sell online you'll still need a gateway payments such as NetBanx, to establish the link between your store and receive payment. The main difference is that with a merchant account, the money goes into your account faster. The transfer of money from Paypal usually takes 3-5 business days. The hope is clear enough!

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