- Mostly used for businesses, merchant accounts can accept payments through several means, from debit and credit cards to cash deposits and transfers.
- This makes it easier for customers to make purchases and pay through whichever means is most suitable or comfortable for them.
- Even though Paypal is an online payment processor, it has found a way to process payments using credit and debit cards, just like a merchant account, making it easier for its entrepreneur users to get payments from their customers.
- The firm operates on a global scale, and they discovered that small-scale entrepreneurs are faced with debit and credit card payment problems.
- In reaction to that, Paypal made grounds for these entrepreneurs to receive payments by creating Paypal merchant services.