The second type of merchant account is the "card not present" or "non-signature based or "MOTO" (Mail Order/Telephone Order) merchant account. This is a type of merchant account is issued when the business does not accept credit card payments from customers face-to-face. Such merchant accounts are common among businesses that operate over the internet or telephone.
Merchant Account Types
Depending on the method of obtaining credit card information at the time of a payment is made, there are two types of merchant accounts that are issued.
The first of merchant account is a "card present" or "retail" or the "signature based merchant account". This type of an account is issued to merchants or businesses whose customers> are present at the time of payment. Since, the transaction is held face-to-face you are able to inspect the card and the signature on the reverse of the card. You can also match the sales receipt signature against that on the back of the card. These types of payments are printed by using either a card imprinter or a "card swipe" terminal.
The second type of merchant account is the "card not present" or "non-signature based or "MOTO" (Mail Order/Telephone Order) merchant account. This is a type of merchant account is issued when the business does not accept credit card payments from customers face-to-face. Such merchant accounts are common among businesses that operate over the internet or telephone.
The second type of merchant account is the "card not present" or "non-signature based or "MOTO" (Mail Order/Telephone Order) merchant account. This is a type of merchant account is issued when the business does not accept credit card payments from customers face-to-face. Such merchant accounts are common among businesses that operate over the internet or telephone.
