What is a store/ merchant account/ company account?
A company account is the account in which the standard settings for a specific company (or region of a company, e.g., North America) are set. For example, when invoices are sent out.
Note: Company account settings affect all merchant accounts under the company account.
A merchant account operates under the company account. The franchisees manage merchant accounts. It’s possible to create multiple merchant accounts (for example, to make a distinction between different legal entities or to divide payments of different currencies to the correct bank accounts).
Tip: Each franchisee will have at least one merchant account.
Each merchant account has at least one store operating under it. The store is where the business and transactions take place. For example, the location of a burger restaurant is where the transactions take place. However, it’s possible for one merchant account to have multiple stores under it.
Tip: Having multiple stores under the same merchant account is possible only when the same legal entity owns all stores.