What is a Merchant Account?
A merchant account is your main business profile name on NoFrixion.
It is typically set as your registered company name, but it can be updated to your trading name if preferred.
If you ever need to change your merchant account name, please contact support@nofrixion.com.
All payment (“current”) accounts you create in a merchant account, sit under your merchant account meaning they operate under this business name.
Where does the merchant account name appear?
The merchant account name is the official name that appears:
- On NoFrixion statements
- As the payer name on other banking portals
- On payment confirmations
- During Verification of Payee (VoP) checks
- In the top-right corner of the platform when logged in
No matter which payment account a transaction is sent from, the merchant account name is the name that will be shown externally.
If you have multiple payment accounts under your merchant (for example: one account is called “Accounts Receivable” and another is called “Christmas Party Expenses”), those account names do not appear on bank statements or external portals. It is the merchant account name is displayed.
Simple way to think about it
- Merchant Account = Your business’s public-facing name
- Payment Account = The individual accounts used to send and receive money
Verification of Payee (VoP)
If you would like the payment account name (instead of the merchant account name) to appear to customers during Verification of Payee checks, please contact support@nofrixion.com and we can update this for you.