Nov 19, 2019

Online Insurance Transactions, the New Target for Fraud

For business owners, shifting to online platforms often comes with a host of risks no matter the industry you serve. Anyone can be a target! And now, new data from recent research by Iovation reveal that insurance is the next favorite e-commerce fraud target. Cybercriminals are increasingly eyeing firms that offer insurance services as web-based payments for the sector surge...

Nov 19, 2019

Travel Sector Wasn’t Ready for Two-factor Authentication

14th Sept came and the travel sector still looked like it was still not ready for two-factor customer verification. A report released days before the September 14 cut-off date showed that most sector executives were worried about their preparedness to meet the terms of the new regulation. The findings report by Amadeus dabbed Preparing for Two-factor Authentication, released less than...

Nov 14, 2019

International Payment Processing Can Help You Go Global

The borders of commerce are becoming less and less apparent as businesses tap into global markets across the world. With the expanding market, companies are reaping the benefits from appealing to a broader range of consumers, sometimes finding more success for their products and services in foreign countries than in their home countries. But all of this business would come...

Nov 14, 2019

Cashless ATM for High-Risk Businesses

A cashless ATM is similar to a traditional ATM in that it allows customers to access their accounts to pay cash for services. It even has similar prompts and requires their 4-digit pin code. However, cashless ATMs are completely electronic. Instead of dispersing physical cash, transactions are made online and the customer is provided with a voucher to confirm that...

Nov 14, 2019

High-Risk Merchant Account Solutions with Offshore Merchants

An offshore merchant account is one which is used for e-merchants who are processing payments through their website in countries that they don’t live in.  There are many reasons why a merchant would want to have an offshore account, including less stringent approval standards abroad. Being an offshore merchant can also be a great option to extend the services of...

Nov 14, 2019

Canada’s Anti-Money Laundering Rules and Its Effect On Casino Operators

Money laundering is defined as the process in which profits earned by criminal activity are converted into funds that “appear” to have been acquired by legal means. This is normally carried out by moving the illegal funds through a quick series of financial transactions. When done successfully, money laundering will hide the criminal act that generated the funds as well...

Oct 30, 2019

Political Contention Over Fed’s Faster Payments

The Federal Reserve announced at the beginning of August that they are planning to build a real-time payment platform. This would address concerns from smaller financial institutions that are hesitant to buy services from The Clearing House (TCH), which is run by the nation’s largest banks and is currently the only network that provides services for all channels. By providing...

Oct 30, 2019

How To Get Started In The Booming Gaming Industry

Participating in games is as intrinsically human as music and dancing. Playing games helps children learn, provides mental stimulation, and is a great method of relaxation and escapism in an increasingly stressful world. But the demand for varied games and easier access has also helped to shape the existence of the internet as we know it today. No longer are...

Oct 30, 2019

A High-Risk Merchant Account Effectively Develops Your Business Globally

Being a competitive merchant means providing your customers with a variety of secure payment options. In a world where cash is no longer king, credit and debit card processing takes priority for any business. But, businesses also need to consider processing transactions through PayPal, eWallets, transfers, cryptocurrency and other options as they become more in demand. In order to do...

Oct 30, 2019

How To Find MCC Codes

All businesses that apply to take credit card payments are assigned a four-digit number by the major credit card companies (Visa, MasterCard, Discover, and AmericanExpress). This number is called a Merchant Category Code or MCC. It serves as a designation to identify the type of business or service it is in. In 2004, merchant category codes became a requirement by...

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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