From the Glossy Page Blog

When you set up a new business, you need to set up the payment process for your customers and clients.  For example, when you go to a supermarket and pay at the cash register, you can pay by check, cash, credit card, debit card, or any other form of payment they accept.  You use the credit card terminal that is most often located right in front of you or you use another form of payment.  This process is much easier and often faster for the customer.

In order to accept payment by credit or debit card, you must set up a credit card merchant account.  There are several banks that offer this type of account.  Check with the bank where you have your business account to see if they have this account available as well.  They will process your transactions and send you the money.  If you have an online business or a brick and mortar business, you will need to set up the right merchant account.  If you accept payments from both places, you need to have a separate account for each.  You can’t process online payments the same way you process credit card payments with a credit card terminal.