A merchant account is a wallet that allows businesses to accept and process payments, including credit and debit cards, online payments, and other electronic transactions. It acts as a holding account where funds are temporarily stored before being transferred to the business’s primary bank account.

A business account is a general-purpose wallet used to manage a company’s finances, such as receiving payments, paying expenses, and handling payroll.
A merchant account, on the other hand, is specifically used to process electronic payments and may include specialised features like fraud protection, payment gateways, and transaction reporting.

We require you to complete the Merchant Application Form and provide documents including:

• A valid business license or registration certificate.
• Proof of identity for business owners (e.g., passport or ID).
• Proof of business address (e.g., utility bill or lease agreement).
• Business bank account details.
• Financial statements or transaction history (if applicable).

• The corporate structure, via ownership chart
• Main shareholders and directors
• The business incorporation details, via Certification of Incorporation, Articles of Association and / or Audited Annual Report for the most recent completed financial year.

Additional documents may vary based on the provider and industry.

The time required depends on the payment processor. Generally, it takes 10 – 14 business days for the account to be approved and activated, provided all documents are in order.

We support a wide range of currencies including GBP, USD, EUR, CAD and AUD. A full list of currencies can be find here All currencies

The costs vary depending on several factors, but they typically include:

• MDR Fees: which includes, interchange fee, payment processor fee and network fee.
• Transaction fees: A percentage or flat fee per transaction.
• Monthly minimum fees: For using the service or platform.
• Setup fees: One-time cost for account activation (in some cases).
• Currency conversion fees: If you accept foreign currencies.

Yes, we offer alternative payment options such as Interac, Pix, SafetyPay and many other local payment methods tailored to specific regions.

Yes, we have a single API that allows you to integrate multiple payment methods, streamlining the process for businesses.

You can access the documents here: Luxon Pay API

We support merchants from a wide range of industries, but specifics may depend on regulatory compliance and risk evaluation. Common industries include:

• E-commerce
• Hospitality
• Retail
• Gaming
• Subscription services

High-risk industries (e.g., gambling, adult services, or CBD products) may require additional approval.