What is a store/ merchant account/ company account?

A Company Account is the account in which the standard settings for a specific company (or region of a company, e.g. North America) are configured. This consists of for example payment methods or when invoices will be sent out, and are the same for all merchant accounts under that Company Account.

 

Merchant accounts are accounts that operate under a Company Account. Merchant Accounts are operated by the Franchisees.It is possible to create Multiple Merchant Accounts, for instance to make a distinction between different legal entities, or to divide payments of different currencies to the correct bank accounts. In the case of Franchises, each Franchisee will have at least one Merchant Account. 

 

Each Merchant Account subsequently has at least one Store operating under it. The store is where the business and transactions take place. In the case of a Burger restaurant, this would be the place where the actual restaurant is located. It is also possible for one merchant account to have multiple stores under it. However, this is only possible when all stores are owned by the same legal entity. 

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