Apr 07, 2020

Marijuana Industry Fights For Banking Rights After Robberies

In Denver, Colorado, marijuana dispensaries experienced 8 armed robberies within a two month period. Although the suspects have not been caught, the main issue is that these occurrences could be largely reduced or even eliminated if these businesses were not forced to deal exclusively with cash. The National Cannabis Industry Association’s Bethany Moore states the root of the problem, “In...

Apr 07, 2020

Open New Business Opportunities with Square POS Integration

Only businesses that change with the times will survive in a dynamic ecommerce space. And right now, it’s all about the Square POS integration. This world-known integration from Square opens new opportunities for all business owners, whether you sell online or instore. And if you’re after both markets, this feature still allows you to link your ecommerce store to your...

Apr 07, 2020

Understanding a Merchant Account Personal Guarantee

Do you feel confused about signing a personal guarantee with a merchant services provider? What about high risk merchant accounts? Where can you get reliable merchant processing services or business funding for your risky business to overcome financial challenges? No worries. This article will explain what a personal guarantee is and help you come up with the right merchant services...

Apr 07, 2020

Everything You Need Know About Chargebacks, and How to Prevent Them

Chargebacks can quickly turn into a nightmare for business owners. A chargeback refers to the act of returning funds to a customer. The primary purpose of a chargeback is for consumer protection. However, this mechanism is often understood, misused and abused and can have a crippling effect on merchants. A chargeback occurs when a cardholder requests that their bank reverse...

Mar 26, 2020

How to Choose the Best Customer Payment Methods for Your Small Business

Long before you open the doors of your business, there are countless critical financial decisions that have to be made. These decisions are so important. They will either set your business up for success, or they will quickly have a negative impact on operations. When it comes to choosing the best customer payment methods, even established businesses need to revisit...

Mar 26, 2020

How to Get a Merchant Account for Your Online Dating Website

The online dating industry is huge and very profitable. Online dating site Bumble is valued at $3 billion. Match Group, which owns sites like Tinder and Match.com reported $1.7 billion in revenue in 2018 alone. Without a doubt, love is big business. Why the Online Dating Industry is High Risk Despite its profitability, however, online dating is considered high risk...

Mar 13, 2020

New York City Is Set To Ban Cashless Stores

In January, 2020, the City Council in New York passed legislation that forbids restaurants, stores, and other retail establishments from rejecting hard currency as payment. This decision has placed New York City on the map as one of the most vocal opponents against cashless businesses. San Francisco, Philadelphia, and New Jersey approved these bans last year and more cities seem...

Mar 13, 2020

What Payment Facilitators Can Do To Reduce Chargebacks

According to a report on Statista.com, retail e-commerce sales in 2019 reached a whopping 3.53 trillion US dollars. Online retail’s revenues are expected to reach 6.54 trillion US dollars by the year 2022. The soaring numbers indicate that online shopping is continuing to grow in popularity worldwide. With this much cash floating across the interwebs, there is no doubt that...

Mar 13, 2020

Why Lenders Should Consider Push Payments

The way consumers pay and receive money is radically changing. Consumers are familiarized with making payments in real-time, using cards and wallets. As a result, their expectations about the way they receive their money is also shifting.  Initially, consumers did not have a simple solution for sending payments to each other. However, non-financial institutions stepped in and created solutions for...

Mar 13, 2020

Fake Products Endanger High Risk Merchant Account Providers

According to Finextra.com, $200 million in fraudulent transactions has been stolen from banks in the years between 2003-2013. Merchants, who opened a merchant account with the expressed intention to sell legitimate goods, once approved, rack up fraudulent transactions, only to abandon the merchant account. This deceitful tactic allows merchants to process as many transactions as possible, before raising any kind...

Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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