If you are a seller, an online merchant account can enable you to accept purchases over the internet from all over the world. The online merchant account will process credit, check and cash payments from anyone and deposit the funds into your account. Most companies will also covert currency for you as well, enabling you to trade all over the world. If you are a buyer, an online merchant account enables you to make payments to any merchant on the internet easily. You simply have to attach the online merchant account to your checking account or credit card and start paying with the account. It is easy and eliminates the need for writing a check to sellers on the internet.