If you want to allow your registrants to pay for registration online through Eventsquid, you will need to have a your own Payment Processing account. Eventsquid is integrated with several different payment processors.
What is the difference between a Payment Processor and a Merchant Account?
In Eventsquid, to collect payments online, you connect an online payment gateway/processor which is different from a merchant account.
Simply, the payment gateway (Stripe, Authorize.net, PayPal Express, Payflow) is used for facilitating online transactions and helping them get approved. It is the first place the transaction goes when a registrant registers online and wishes to pay immediately. The transaction flows through the payment gateway, to the payments ecosystem, and should it be approved, will eventually make its way into your merchant account.
Merchant accounts are for reconciling the funds sent to the merchant on successful sales. These are the funds that were approved through the payments ecosystem. All approved payments are paid out to you, the merchant, through your merchant account. This is typically the last stop before you receive the funds in your normal business bank account.
All that said, we recommend that you ask your merchant account provider if they work with any of the payment gateways supported by Eventsquid. Most merchant accounts do.
The majority of the payment gateways don't require a merchant account - just a link to a bank account where they can transfer the monies processed. But typically our clients use a merchant account unless they are a smaller operation.