Understanding the Payment Ecosystem - Merchant Accounts vs. Payment Gateways

General Bookmarker28 Mar, 2024Finance

While this payment technology helps with electronic payment transfers, it also comes with challenges and complexities as there are many players involved, including banks, payment processors, card networks, and more. So the question arises: what exactly is the role of a merchant account and payment gateway, and does a business need both to accept cross-border payments efficiently? This blog answers all these questions and explores what makes a robust ecosystem for a business.