A Merchant Account Gives Wings To Your Financial Consulting Firm

Sep 10, 2014

Many times, merchants are left surprised at the fact that their businesses are considered high-risk. This classification is usually based on the nature of your business, not its performance. So, if your business falls within the category considered high-risk, it wouldn’t matter how many happy customers you have to show for yourself. One such business is financial consulting.

When the economy is on the rise, a financial consulting firm has the potential to be a cash cow. New businesses are set up, more players enter the market, and the number of people, who don’t know what to do with their money, keeps on increasing. Such are the prospects for a financial consulting firm to enjoy in a booming economy.

But the fact is that even from this cash cow, what you get is payments made through plastic cards. This points towards a need for a financial consulting merchant account, something that is not the easiest to come by when you are considered high-risk. With eMerchantBroker, it doesn’t have to be this way.

At eMerchantBroker, we take pride in having a team of seasoned professionals who know ins and outs of different industries. We have helped thousands of clients, who were considered high-risk, set up financial consulting merchant accounts.

However, our services are not limited to providing financial consulting merchant accounts. We boast having helped various different clients, in various different fields. We offer specialized merchant accounts that are according to the specific industry requirements – something that sets us apart from the competition.

At eMerchantBroker, we know the dynamics of a financial consulting business. We know the challenges and the risks associated. Yet, we offer you a one-stop solution of accepting payments through debit and credit cards by setting up a financial consulting merchant account for you. All you have to do is concentrate on your job, and our account will take care of the rest.

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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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