Agent Based Cryptocurrency Payments

Oct 12, 2020

It is no mystery that the use of cryptocurrency is gaining massive ground worldwide.  For those who are still unfamiliar, cryptocurrency is a “digital asset” that, with the use of cryptography, can be used to perform transactions securely, as well as regulate the creation of new coins. 

Benefits Of Accepting Cryptocurrency For Your Business

By December 2019, it has been recorded that 42 million Bitcoin wallets had been set up worldwide. It is also estimated that five percent of Americans hold Bitcoin. There are also an estimated 7.1 million bitcoin users who are active. 

Clearly, the cryptocurrency market is teeming with opportunities to grow your enterprise. Let’s look at more reasons to accept cryptocurrency in your business.

  • Competitive Edge: There is no question that the future growth and existence of your business greatly depends on your point of difference. 

As more consumers are adopting cryptocurrency as their preferred payment, you need to be ready to tap into this growing market in order to serve their needs. 

Accepting cryptocurrency means your consumers will be coming back to you, inviting their fellow “crypto-users”, and ultimately generating more business for you. 

  • No Chargebacks: The beauty of cryptocurrency transactions is that they are final and irreversible. Users are not able to recall the money they paid. This protects you from fraud and any ensuing hassles of chargebacks. This greatly protects your bottom line 
  • Rolling Reserves? A Thing Of The Past: Since cryptocurrency transactions cannot be canceled, customers cannot engage in chargebacks. This gets rid of the need for rolling reserves that payment processors typically require. When you accept cryptocurrency payments, you get all your money instantly. 
  • Get Your Money Quicker: When you accept debit and credit cards, it can take several weeks to receive your money for the goods and services you sold. This is due to third parties such as the card issuer’s bank and the vendor’s bank verifying every payment. However, Bitcoin transactions are verified by “miners” so you can get your money within minutes. 

EMB’s Cryptocurrency Payments Solution

Perhaps you are now convinced that accepting cryptocurrency could make a massive difference in your business. So how do you get started? Look no further than EMB to help usher you into the world of cryptocurrency. 

With EMB’s Cryptocurrency Payments Solution, you now have the benefit of relying on a trusted leader in the high-risk processing industry, including cryptocurrency. You have peace of mind, knowing that all payments are secure since they are indefinitely stored within a blockchain ledger. This platform has eliminated all third-parties. 

Unlike traditional online payment gateways, by using blockchain technology, all payments are powerfully encrypted. 

If you are already set up with a merchant account, you can easily apply online for cryptocurrency payments. If you need both a merchant account and cryptocurrency payments, the process is simple. Begin today by filling out EMB’s quick and easy online application. We cannot guarantee approval, but we do promise a straightforward process. Merchants can receive approval in up to 24 hours. 

Still have questions? No problem! Give us a call or drop us an email. We will help you get sorted. We look forward to hearing from you.

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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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