E-wallets are believed to become the most popular method for making online payments. According to some viewpoints, these methods or alternative payments include direct debits, bank transfers, cash on delivery, e-wallets and e-invoices, and also carrier billing, postpaid, prepaid and digital currencies.
Defining alternative payments as everything except credit cards may sound confusing. Basically, payments are categorized into 3 types. Each of these categories offers a number of “ways” to make payments.
When taking about making payments, merchants involved in the high risk sector should be mentioned in the first place. Choosing a secure and reliable payment processor like EMB is special importance to high risk merchants.
EMB goes above and beyond to ensure merchants are always satisfied and provides quick and effective support to all its customers.
The above-mentioned categories include:
- Pay Before, meaning prepaid and travelers checks
- Pay Now, meaning bank accounts, cash, and digital currencies
- Pay Later, meaning a credit line extended by a creditor
Making Payments through “Form Factors”
Based on technology solutions enabled, consumers or commercial entities can choose this or that “way” to make payments. These methods used for making payments are called “form factors.” They play a crucial role in providing account access anytime and anywhere. The mentioned account access implies, e.g., a bank or credit account.
Cards featuring a magnetic stripe or chip are considered as form factors. This is also true of mobile phones and digital wallets. A digital wallet containing one or more credit, debit and/or prepaid account isn’t something new in the modern world of payments. It’s just a new way of providing convenient access to the mentioned accounts.
EMB is ranked A+ with the Better Business Bureau (BBB). EMB offers exceptional high risk merchant accounts, chargeback prevention programs, iCheck for check-based transactions, and amazing business funding options.
With emerchantbroker.com, merchants involved in all types of businesses can enjoy:
- Approval within 24-48 hours
- High risk rates as low as 2.99%
- No annual fees
- No application fees
- No gimmicks
- No setup fees
- Support from skilled high risk account specialists
- Unique chargeback protection services