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When it comes to merchant account opening, traditional banks impose a series of rules and requirements, making the process lengthy and complicated. Satchel offers the same payment processing and credit card acceptance services as banks, only with faster account opening and additional security features.
Accept card payments in 20 currencies
Your customers can now enjoy simple and fast payments in their preferred currency
Stay on track with precise reporting
Generate reports on your merchant account activity for a detailed analysis and comprehensive overview
Accelerate launch with APIs
With a fast integration process, you can get started right away and take full advantage of the solution’s functionality
Ensure full security
Our PCI DSS Level 1 security certificate ensures that our solution meets the latest industry standards, making your business 100% secure
How it works
Fill out and submit the online form below.
We will process the form remotely within one business day.
Our sales manager will contact you to provide details about the next steps.
Merchant pre-check form
Please complete this form in full, determining whether we can help you obtain a credit card merchant account. If your pre-check is approved, you will be informed about the next application steps.
A merchant account is a type of commercial bank account that allows e-commerce companies to accept and process digital payments for goods and services. Merchant accounts are essential for online businesses, allowing them to partner with institutions that facilitate all electronic payment transactions. For more insights about merchant accounts, please read our dedicated blog post.
If you are a business owner, all you have to do is find the right provider and submit an application for account opening. From the first sight, it works just like opening a regular bank account but there are nuances that make the process slightly different. Merchant banks or service providers evaluate a number of factors during the screening process, including the amount of time a firm has been in the market, financial and credit history, as well as the possession of any merchant accounts in the past. Credit card fraud is one of the biggest concerns in the industry, so banks and fintech companies will run a compliance check and audit your AML and anti-fraud policies and mechanisms in place.
If you want to open a merchant account with Satchel, the first step is submitting an online merchant pre-check form, which will help us determine whether we can help you obtain a credit card merchant account. If your pre-check is approved, you will be informed about the next application steps.
Yes, a merchant account is a bank account that serves the needs of e-commerce businesses, allowing them to accept credit cards and other forms of digital payments from their customers.
A merchant is a business entity that is engaged in selling or trading goods in digital or physical locations. A typical example of a merchant is a wholesaler or an e-commerce store. Find out more about the advantages of a merchant account in our dedicated blog post. Find out more about the advantages of a merchant account.