You have an auto repair shop and your wife sells burritos off a table in your shop. You must have a separate terminal or a separate merchant account in a terminal set up to toggle back and forth between two accounts. You cannot deposit credit card transactions for balloon rides into the restaurant merchant account. Maybe you offer hot air balloon rides as a side business to your restaurant. They can charge it back and the merchant will lose that chargeback 100% of the time. If you do, your customer will get a line item on their credit card statement to a business where they did not make a purchase. You cannot deposit credit card payments for one business into a merchant account for another business. You cannot deposit checks made out to Business A in Business B’s bank account. The bank or merchant accounts are specific to a business. Visa and MasterCard regulations require that one business cannot take payments for another business. Both merchant accounts will be downloaded into the terminal and the first question on the terminal during a purchase will be to ask which merchant account you will be using for the deposit. Yes! If you have different types of businesses operating in the same location, yes, you can take payments for both businesses with one credit card terminal. Can a credit card terminal be set up to handle 2 merchant accounts? We selected these credit card processors based on cost and fees, how easy they are to setup and use, customer support, and other important features.
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