May 24, 2019

Blockchain Technology May Cut Down Cases of True Fraud

Though some believe blockchain technology can rescue businesses from chargebacks and ecommerce fraud, it may not completely solve the problem. True and friendly fraud hurt all businesses, especially mobile and online merchants. Unauthorized use of credit cards triggers cardholders to implement chargebacks, resulting expensive refunds and other penalties for businesses. As blockchain technology evolves, merchants can expect it to reduce...

May 23, 2019

Merchant Service Providers Must Embrace Instant Funding to Stay Competitive

When it comes to getting their money, businesses and consumers want it fast and convenient. No one has time to wait, and if they can’t get it when they want, they will go elsewhere. There is no loyalty in payments, and a new report proves it. In the U.S. economy, business-to-consumer disbursements have traditionally been made via mailed checks or...

May 23, 2019

The Future of Voice-Activated Payments

To improve the customer experience, companies have been leveraging technology to stimulate consumers’ senses through sound, light, and biometrics. Digital voice assistants, like Siri, Alexa, Cortana, and Google Assistant answer questions, play songs, and place orders but some believe they have much greater potential. Juniper Research’s whitepaper, The Digital Assistants of Tomorrow, which was released in February, predicts that the...

May 22, 2019

Visa Launches Platform, Allowing Issuer Processors to Test Products

Visa’s new platform, known as Visa Next, allow issuers and issuer processors to build and test new products. Visa’s clients and partners can gain access to the recently-launched platform through Visa Next. This is Visa’s website that is promoted as a “new destination” for learning about and using new solutions in the payment player’s ongoing pipeline. The platform has beta...

May 22, 2019

FTC Approves Final Consents Settling Charges that Hockey Puck Seller Made False Claims

The Federal Trade Commission (FTC) has approved final consent orders in two cases in which the companies allegedly falsely claimed their products were made in the United States. Background on the Companies A New York-based company, Patriot Puck, wrapped its hockey pucks in American flags. Though they were mostly manufactured in China, the company promoted them as the “The Only...

May 20, 2019

Online Pharmacies Must Verify Patient Identification Before Filling Scripts

New guidelines require online pharmacies in Britain to verify patients’ identities before filling prescriptions. The General Pharmaceutical Council (GPhC), which regulates pharmacy technicians and pharmacies in Britain, recently published guidelines for registered pharmacies providing pharmacy services at a distance, such as via the internet. The new guidelines are updates from 2015, which many pharmacy bodies argued did not go far...

May 20, 2019

NY Man Sues, Claiming Apple’s Facial Recognition Software Led to His False Arrest

An alleged Apple’s facial recognition software failure may cost the tech giant a pretty penny. An 18-year-old New York man is suing Apple for $1 billion, claim its facial recognition software wrongly accused him of stealing $1,200 worth of merchandise from its stores. Ousmane Bah, a student, claims someone used a stolen identification card to pass himself off as him....

May 17, 2019

Ingestible CBD Is Illegal – But That’s Not Stopping Sellers

CBD has shown up in everything from lollipops to smoothies in Philadelphia and New Jersey. The only hitch is that it’s legal to sell food and supplements with the compound that is derived from cannabis. Despite breaking the law, businesses don’t plan to stop selling this new cult ingredient, which is derived from cannabis, unless the U.S. Food and Drug...

May 16, 2019

China’s Crack Down on Fentanyl-Related Substance May Help U.S. Opioid Crisis

China’s recent move to list all fentanyl-related substances as controlled drugs may be a game-changer in the United States’ battle against opioid addiction. The move came following President Trump’s criticism that China allows synthetic opioids to be shipped to the United States. The U.S. continues to battle an epidemic of opioid-related deaths. Closing the loophole will prevent Chinese drug traffics...

May 16, 2019

Michigan Man Pleads Guilty to Illegally Importing Goods into the U.S.

A Marquette, Michigan man pleaded guilty to smuggling goods into the United States using fraudulent shipping invoices, according to federal law enforcement officials. Curtis Wenzlaff, 55, pleaded guilty in April, capping an investigation by the Office of Criminal Investigations of the U.S. Food and Drug Administration (FDA). The U.S. Attorney’s Office is prosecuting the case. Background on the Case Wenzlaff...

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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