What are payment gateways and merchant accounts?

Payment Gateways:

A payment gateway is an e-commerce application that authorizes credit card payments. Your payment gateway is sort of like the credit card reader you would find in a bricks-and-mortar store - it allows customers to enter their credit card information securely, and then transfers funds from their account to your merchant account.

All payments that are processed through SilkStart go through a payment gateway. SilkStart currently supports Worldline (previously Bambora), Stripe, and PayPal.

Merchant Accounts:

When a member makes a payment through your SilkStart site, funds from their account are transferred through your payment gateway to your merchant account. Your merchant account stores and validates your customer’s card details and available funds. Once the funds have cleared, they are sent to your business bank account.

Your organization must have a merchant account with a payment gateway in order to receive funds through SilkStart. SilkStart currently supports Worldline, Stripe,and PayPal.