Jul 16, 2019

How Does Merchant Account Load Balancing Work

Merchant account load balancing gives merchants the ability to divide transactions across multiple accounts. It is an account management tool that helps merchants minimize risk and increase processing volumes. Preparing for Challenges Frozen or terminated merchant accounts can dramatically impact your bottom line. Load balancing helps. By juggling transactions across a few merchant accounts, you can still can continue to...

Jul 16, 2019

CBD Remains Hot Despite Legalities

Despite the legal uncertainties surrounding cannabidiol (CBD), interest and business is booming. The U.S. Food and Drug Administration has issued warnings, noting there is little scientific evidence backing up the promoted benefits of CBD or whether its use can cause harm to people and animals. This warning comes despite mass roll outs of creams, lotions, drinks, food, supplements, and other...

Jul 15, 2019

Visa Aims to Combat Rising Chargebacks By Buying Verifi

Visa will buy the Los Angeles-based Verifi, which offers tools that help merchants, acquirers, and issuers to resolve chargebacks. This is especially impactful considering rising chargebacks in the industry. Though the terms of the acquisition were not announced, Visa said it will integrate Verifi’s technology with the risk-management offerings from CyberSource and Cardinal Commerce. Visa acquired CyberSource in 2010 and...

Jul 15, 2019

Federal Decision May Impact Future ISO Agent Contracts

Independent sales organization, Electronic Merchant System (EMS), must pay more than $5.4 million in residuals to a sales agent due to breach of contract. This decision, which originated from a dispute over residuals and how contract conditions are interpreted, could lead to major complications for those, like ISO agents, in the merchant acquiring sector. Unless EMS appeals the ruling by...

Jul 11, 2019

Facebook Libra Faces Backlash from Governments and Consumer Groups

U.S., European, and Indian governments have asked Facebook to stop its plans for its newly announced cryptocurrency, Libra, until it addresses questions related to security and other concerns. Entities Current Stances on Facebook Libra Legislators from the U.S. and Europe have criticized and pushed back on Libra since Facebook unveiled its plans. Most are concerned about Facebook’s history of data...

Jul 11, 2019

Twitter Changed Payments Thanks to Square’s Evolution

When Square, the San Francisco-based financial services and mobile payment company co-founded by Twitter founder, Jack Dorsey, launched in 2010, many didn’t realize the profound effect it would have on the payments industry. Though it gave the smallest sellers, like jewelry vendors and other sole entrepreneurs, their first chances to accept credit card payments on the fly, a number of...

Jul 11, 2019

Research Shows Contactless Cards May Have a Flat Effect on Mobile Payments

Despite popular belief, the use of contactless cards will not trigger widespread adoption of mobile payments, according to new research. Instead of easing consumers into the habit of paying for things with their mobile devices, the New York-based research firm, Auriemma Consulting Group, reported that contactless cards may not actually attract new mobile payment users. They believe this may be...

Jul 10, 2019

New Tech Opportunities Led By Increase in B2B E-Commerce

Forrester Research reported in 2017 that B2B (business-to-business) e-commerce transactions will climb to $1.2 trillion by 2021. Within the United States, this accounts for more than 13% of all B2B sales. That figure is up $889 billion in sales calculated at the end of 2018. None of this is surprising considering more day-to-day decisions are left in the hands of...

Jul 10, 2019

Number of ACH Fraud Incidents Continue to Climb

ACH credit fraud has steadily climbed since 2016, according to the most recent annual fraud report from the Association for Financial Professionals (AFP). In both 2015 and 2016, the number of cases of ACH credit fraud was at 11%. In 2017, the number rose to 13%. Last year, the number climbed to a whopping 20%, according to the survey, which...

Jul 10, 2019

Apple Leads the Contactless Payments Movement with the Apple Card

The Apple Card, which pushes payments deeper into the digital sphere, will become banks, issuers, and card networks worst nightmare. When consumers use their smartphones to make a purchase with the new Apple Card, the person will receive a real-time push notification. What’s unique about this card is that the entire transaction occurs in the digital wallet. Also, this type...

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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