Merchant settlement account for online & offline businesses
Eligible online and offline merchants can use approved 2PayApp account details to receive settlement payouts from acquiring banks, payment service providers, payment facilitators and card-acquiring platforms.
Manage acquiring settlements alongside other international business payments in EUR, GBP and USD.
What is a merchant settlement account?
A merchant settlement account is an account used to receive funds paid out by an acquiring bank or payment service provider after customer transactions have been processed.
The settlement amount may reflect deductions such as processing fees, refunds, chargebacks, reserves or other amounts specified in the merchant's acquiring agreement.
2PayApp can provide eligible businesses with approved account details for receiving qualifying settlement payouts.
Who is this account for?
Both online and offline merchants may apply. The service may be suitable for:
How merchants can use 2PayApp
2PayApp account versus card acquiring
What 2PayApp provides
2PayApp provides a business payment account that may be used to receive approved merchant settlements from acquiring providers.
What is handled separately
Opening a 2PayApp account does not by itself enable card acceptance. Payment acceptance, authorisation, processing, refunds and chargeback management are normally covered by a separate agreement with an acquiring bank, PSP or another acquiring provider.
Information required from merchants
During onboarding, merchants may be asked to provide the following. Additional information may be required depending on the industry and transaction profile.
Multiple acquiring providers
Subject to approval, merchants may receive settlement payouts from more than one acquiring provider.
Virtual IBANs may be used to identify and separate incoming settlement flows by provider, store, website, project or legal entity. Availability depends on the account configuration and the payout requirements of each acquiring provider.
Will every acquirer accept the account details?
Not necessarily. Every acquiring provider applies its own requirements to settlement accounts, beneficiary countries, currencies and account identifiers.
Merchants should confirm with their acquiring provider that the proposed account details can be used before changing their settlement instructions.
Frequently asked questions
Apply for a merchant settlement account
Tell us about your business model, acquiring providers, settlement currencies and expected monthly volumes.