Accepting Online Payments

May 09, 2017

2017 will continue making customers choose to live a digital life. Year by year, more and more people are choosing different forms of online billing and looking for ways to accept payments.

The 2016 Annual Billing Household Survey shows each month customers pay their bills choosing an average of 3.6 different payment methods. Customers are increasingly using mobile payments: 33% of online households say they’ve paid a monthly bill using their mobile phone, which is a 22% increase compared to the 2015 survey. 42% of customers who use a smartphone say they’ve paid bills via their phone. 46% of consumers surveyed by a US credit card processor preferred to get notifications through email about their transactions.

Research in the field reveals e-commerce consumers don’t have a similar approach per region concerning online payment methods. E.g., credit cards are the preferred choice for consumers from the Asia-Pacific and the Americas. Digital payment services or cash on delivery are more acceptable for online consumers from other areas.

Based on another survey, online consumers consider credit cards as the top payment method when making purchases cross-border. Online payment services like e-wallets appear in the second place.

Below you can ways you can collect payments online in 2017.

  • Credit/Debit Cards Online

This is a great way to allow your customers to pay with their credit card on your website. Accepting credit/debit cards online is the main way you can accept online payments.

Visa, MasterCard, and American Express are one the most widely accepted credit cards. In the US in 2015, Visa represented 47% of credit card transactions, MasterCard 21%, and Amex 12%. Purchases made via Visa and MasterCard debit cards are expected to increase 114.1 (bil.) and 47.8 (bil.) respectively by 2019 across the globe.

  • eChecks through ACH Processing

Direct debit of a bank account with an eCheck (electronic check) is the 3rd most popular way to accept payments online.

  • Mobile Payments

Mobile payments are on the rise. More and more customers and businesses are choosing to dip a chip card, swipe a credit card, or key in a credit card number on a mobile device.

  • Online Payment Gateway

Thanks to a simple payment form, customers get an opportunity to pay directly on your website.

  • Click-to-Pay Email Invoicing

This allows for sending your customers an invoice by email and getting paid at a quick pace.

  • Recurring Billing

This is a highly preferred method for paying for many monthly services like gyms and childcare.

  • EMV/Chip Card

After the EMV liability shift in October 2015, businesses started considering EMV or chip card solutions.

Turning to a reputable payment processor like, you can get the best for your business needs. EMB, the #1 high risk processor in the US, provides multiple payment gateways and unmatched fraud prevention and protection to help you grow your business successfully. With EMB, you can open a low-cost and reliable merchant account tailored to your business needs.

The world of online payments is constantly growing and evolving. Take the time to research the available methods to understand both the pros and cons of each option, as well as see what’s the cost of having (or not having) a payment method.

Let us help you get a high risk merchant account today!

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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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