What is Merchant Facilities?

Merchant Facilities is a term used to describe the services traditionally provided by banking and financial institutions to business operators otherwise known as “Merchants”, the more commonly meaning is the service that provides them he ability to receive payments, this could be via EFTPOS terminals, online or over the phone.

If you are looking at⠀ buying a business ⠀and need to set up a Merchant Facility, I highly recommend you give yourself at least 14 days in order to have enough time to receive the terminal, set up any connections needed or just to avoid any disruptions to the business if it relies heavily on these products.

Another point to be aware of is that almost always, the merchant Facilities are not transferable and most times when you take over an existing business, you will need to set up your own Merchant Facilities including but not limited to EFTPOS machines.