Mar 21, 2019

Non-Millennials Embrace Zelle, Making up Half of New P2P Users

Overall, millennials have driven blossoming technology, including P2P payment usage. That was until now. Zelle has managed to crack the code, gaining traction with Generation Xers and Boomers. The Digital Payments Adoption Study released earlier this month by Early Warning Services, LLC, the network operator behind Zelle, showed that 50% of first time P2P users are 45 and older. The...

Mar 21, 2019

Mexico’s Real-Time Payments May Stiff Card Issuers and Acquirers

Banxico, the central bank in Mexico, will launch the pilot phase of its free mobile payment system. The system, which aims to increase digital transaction, provide greater access to banking to underserved communities, and move the country toward a cashless economy, allows payments at participating bricks-and-mortar and online stores via QR codes. The system, known as Cobro Digital (CoDi), aims...

Mar 21, 2019

80% Drop in Counterfeit Credit Card Fraud Due to Chip Technology

Card present counterfeit payment fraud at chip-enabled merchants dropped 80%, since the U.S. payment industry shifted to these types of cards. In 2011, Visa led the industry by moving to EMV (Europay, MasterCard, and Visa) chip cards. Four years later, widespread adoption of chip technology occurred because it was known to be effective at reducing counterfeit fraud in other countries....

Mar 21, 2019

Filing Consumer Protection Claims Now Harder for FTC

The Third Circuit Court of Appeals recently issued a decision, limiting the Federal Trade Commission’s (FTC) ability to bring certain claims in both consumer protection and antitrust matters in federal court. The federal court ruled in the FTC case against the big drug manufacturer, Shire Viropharma Inc., stating the commission can only bring cases under Section 13(b) of the FTC...

Mar 19, 2019

Get a CBD Merchant Account as States Mull Edibles Industry

The future sales of food and dietary supplement products containing CBD, which are commonly referred to as edibles, remain stalled at state and federal laws. Despite the passage of the 2018 farm bill last year, which decriminalized hemp and made it legal to cultivate the crop for certain purposes, some states have banned the sale of food, such as gummies...

Mar 19, 2019

What Merchants Need to Know As Contactless Cards Blow Up

At the heels of Visa’s decision to move to contactless cards in the U.S., MasterCard is following suit. As the momentum for contactless payments grows, MasterCard sought and received commitments from issuers to produce contactless cards within the next two years. Those issuers include Citibank, Capital One, KeyBank, Santander and HSBC. It also is working with FIS to bring contactless...

Mar 19, 2019

Make More Sales With Strong E-Commerce Product Descriptions

When describing products, you need to use language that entices customers to buy. That’s why the way you craft e-commerce product descriptions matter. If they merely explain items, but do not trigger customers to buy, then you need to start re-writing. Before you put fingers to keys, check out these ways to persuade visitors with e-commerce product descriptions that sell....

Mar 19, 2019

Visa Saw Spike in Payment Volume, So Get a High Volume Merchant Account

In the quarter that ended on Dec. 31, Visa experienced payment growth of almost 11%. For the future, the credit card brand sees an increase in contactless cards and volume on its Visa Direct real-time payments service. The worldwide payment volume totaling $2.2 trillion that Visa saw was especially impressive considering the many financial troubles hitting the world during this...

Mar 19, 2019

Google’s Ban on Apps Selling Unsafe Drugs Impacts Supplement Merchant Accounts

Updates to Google Play’s developer policy aims to block apps that promote and sell unapproved ingredients, supplements, or pharmaceuticals, including the weight loss extract, ephedra. The search engine’s move to ban the apps aims to promote responsible innovation, and protect itself from any future liability. The U.S. Food and Drug Administration banned products containing ephedra extracts in 2004, making them...

Feb 26, 2019

High Risk Merchant Accounts Jeopardized by Hike in Online Synthol Sales

Businesses that the sell the potentially life-threatening site enhancement oil, synthol, are putting their high risk merchant accounts at risk. Though synthol is sold as a topical treatment often purchased by bodybuilders to boost the cosmetic appearance of muscles, many inject it into their muscles to get the most effect. If online businesses are promoting this oil as an injectable,...

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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