A merchant account is a relationship between a credit card processing bank and an online merchant that allows a merchant to accept and process credit cards.  A merchant account contract is signed between the online merchant and the credit card processing bank who is responsible for settling the funds to the online merchant.

A chargeback is where a customer is disputing a charge listed on his credit card statement. A chargeback may get the customer their money refunded, but it is not a refund. An online merchant should avoid chargebacks because they can  end up in a merchant losing the ability to process credit cards completely.

A procedure to approve an online merchant web site for a credit card merchant account. The procedure includes providing company documents, directors KYC documents and some web site requirements such as; Terms and conditions, company address and phone number. Once the web site is approved, the merchant signs an agreement with the acquiring bank , integrates with the payment provider and start accepting payments from his online clients.

Alternative payments refers to payments. Most alternative payment methods address a domestic economy or have been specifically developed for Electronic and the payment systems are generally supported and operated by local banks. Each alternative payment method has its own unique application and settlement process, language and currency support, and is subject to domestic rules and regulations.