Merchant accounts are a necessary tool for businesses that accept credit and debit card payments. It allows businesses to receive electronic payments and manage their cash flow more effectively. Some popular providers of merchant accounts include PayPal, Stripe, and Square. The process of setting up a merchant account typically involves filling out an application and going through an underwriting process to determine your creditworthiness. Once approved, the merchant account provider will provide you with the necessary tools and resources to accept card payments online or in person.