The merchant account providers give businesses the ability to accept debit and credit cards in payment for goods and services. This can be face-to-face, on the telephone, or over the internet. Face-to-face is when the credit card holder goes to the physical shop of the merchant to purchase goods or services. Payment via telephone is when the holder calls the merchant and provides the credit card details over the phone. With this, online payment processing is done through the internet.

Since credit cards have become the preferred method of payment in today's market, making a merchant account became essential for most businesses. A credit card processor is also available these days to provide merchants the ability to accept credit card payments.

The main benefit to credit card holders is convenience. Compared to debit cards and cheques, a credit card allows small short-term loans to be quickly made. Credit cards also provide more fraud protection than debit cards.

Many credit cards offer rewards and benefits packages, such as offering enhanced product warranties at no cost, free loss/damage coverage on new purchases, and points which may be redeemed for cash, products, or airline tickets. Additionally, carrying a credit card may be a convenience to some customers as it eliminates the need to carry any cash for most purposes.