Credit Card Payment Processing Merchant Account Application

PointOfSalePOS, with our partners, will have you set up with a merchant account for payment processing that works seamlessly with your POS systems.

PDF application version can be found here.

A merchant account is not the same as your store's cash register, but they work together. Let me explain the difference:

Definition: A merchant account is a type of business bank account that allows you to accept payments (typically credit or debit card payments) from customers. When a customer swipes or taps their card at your store, the merchant account processes the transaction, and the funds are deposited into your business bank account.
Purpose: It serves as the intermediary between the payment processor (like a bank or payment gateway) and your business bank account. It’s specifically designed to manage electronic payments.
Example: If you use Square, PayPal, or Stripe to process payments, they provide the merchant account service that lets you accept payments through your POS system.

Definition: A cash register is a physical device or system where you process transactions and store cash, checks, or credit card payments. Traditional cash registers can only handle cash, whereas modern POS systems may include registers that integrate with electronic payments, sales tracking, and inventory management.
Purpose: It’s the tool where you input the transaction (whether by cash or card), calculate totals, and issue receipts. It may or may not be linked to the merchant account directly, depending on the system you’re using.
Example: Your store's cash register may include a drawer for cash and a screen for calculating sales, but you might still need a separate system (like Square or another payment processor) to handle credit/debit card payments.

If you want to accept credit and debit card payments in your store, you’ll need a merchant account to process those payments. The cash register (or POS system) is the physical or digital interface where you take the customer’s payment and track the sale.
In modern systems, POS software often includes merchant account functionality, meaning you don't need a separate setup for processing card payments. For example, Square POS integrates both the register and the merchant account in one system, allowing you to accept card payments directly through the same interface.

Merchant Account = The service that enables your business to accept credit/debit cards and processes those payments.
Cash Register = The physical or software system you use to process transactions, whether for cash, card, or other payment types.

Would you like to know how to set up a merchant account or how to integrate one with a POS system?