What is a Merchant Account?

Merchant Account

A merchant account refers to the overall business entity on the NoFrixion platform.

• Roles and permissions (e.g., Admin, User, Approver) are assigned at the merchant level, meaning they can apply across one or more accounts within that merchant.
• Users can have different roles on different merchant accounts (for example, AdminApprover on one account and User on another).

Payment Account (NoFrixion Account)

A payment account (also called a NoFrixion current account) is an individual bank-like account within the platform.

• Each account is unique, has its own identifier, and can be denominated in €, £, or $.
• Payment accounts are where funds are actually held, sent, and received.
• They are regulated like bank accounts but are purpose-built for payments and settlements.
• You can create multiple payment accounts instantly and assign access per account.

Simplified view:

• Merchant Account = the business profile and user structure.
• Payment Account = the actual financial account(s) under that business where money is managed.