Merchant Account Overview
2 min read
PriceBlocs requires that both Individual and Team accounts do two things before being enabled to process payments on the platform:
- Connect a valid merchant bank account
- Complete the business verification process
A connected and verified merchant account allows you to both:
- Charge for products via payment links
- Receive payouts from any successful sales
PriceBlocs uses Stripe to facilitate charges and co-ordinate payments to your merchant account.
Stripe has a merchant account verification process which all connected merchant accounts must complete before being enabled to create charges on PriceBlocs.
This verification process ensures that only legitimate businesses are allowed to transact on the platform.
You can read more about Stripe here and their verification process here.
By default, the PriceBlocs member who authenticates a merchant account via Stripe, will be the admin. This has different consequences depending on the the type of account which is performing the authentication
As there is only one person attached to an Individual account, they are by default the Merchant account admin.
When a Team has multiple members, only the person who has authenticated the Merchant account (i.e. the admin) will be enabled to disconnect it.