5 Guidelines to a Profitable Payment System

Mar 20, 2015

The future of payment systems is bright. This year, the world has seen the integration of payment systems into the lives of consumers, and the evolution of payment technologies in general. This is because of software-development technology that makes it easier to code, the ability for apps to do functions that used to require special hardware, regulators who encourage innovation, and a sophisticated and receptive audience. Research from SRI International and the Massachusetts Institute of Technology’s Media Lab, has created a 5 step methodology to find the most profound and potentially influential payment systems.

Degree of Novelty

A new technology is marketable if it is more than just an old technology in new clothes, but not so far advanced that it intimidates consumers.

Conversion to a Known Medium

99% of transactions are made in specie. New payment concepts almost always fail. If non-specie ideas don’t provide simple convertibility at stable rated, they have a high risk of failing as consumers will not want to deal in a currency that may not last.

Merchants Don’t Have to Purchase New Hardware

It is much harder to get a new payment system accepted if merchants believe it will require too much money to buy new hardware. Ideas that integrate into existing platforms that don’t require merchants to buy additional equipment are more readily utilized and promoted by merchants.


Consumers and merchants should know how the payment process happens. Knowing how clearing and settlement works puts consumers and merchants at ease and establishes trust.

Easily Understood

While dealing with payment processing technologies, it is extremely important to create methods and interfaces that the average adult can understand. Focus groups are a great way for payment processing companies to determine what technologies are simple enough for consumers to work with.

The proper usage of these 5 guides will help payment processors create functional, usable, and profitable systems. If you are a payment processor, your business is considered high risk. The high risk merchant account managers at eMerchantBroker.com specialize in creating and maintaining merchant accounts that most payment processors often deny.


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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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