Bookkeeping Payment Processing Solutions

Nov 25, 2014

Do you hate keeping your accounts up to date? Do you get advice from your accountant who recommends doing your accounts on a little and often basis and then you will have no problems keeping your accounts in order? Many people don’t like or understand the process of business bookkeeping and sometimes it is easier if you let someone else do the hard work for you.

There are businesses that do the daily running of the account departments of other businesses. They ensure the smooth running of the business accounts, making any business owner less stressed and ready for the taxman, come that time of year.

What it is important to remember is that the business of bookkeeping is high-risk. Banks don’t want to take the risk of a company that could potentially lose money if something is completed inaccurately; for this reason business bookkeeping merchant accounts have appeared with the sole purpose to help those bookkeeping businesses with the methods they are able to use to accept payment from their clients.

High-risk has the potential to mean expensive rates for each charge, an application fee, even restrictions on the amount of chargebacks that happen to their account.

Understanding the risks and the charges they are expected to pay as a high-risk business, it is understandable the amount they charge per hour. However, if you as the bookkeeping business can reduce the charges on your merchant account provider, then you can decrease the costs involved with your clients and potentially grow your business.

The wrong merchant provider can increase the costs involved to all aspects of the business, understanding and choosing the right merchant account provider who could save you and your client money, is key to a successful business in the current economic climate.

Therefore, no matter the risk category of your business, the most important aspect is getting the right services, which benefit your customers as well as the business; don’t settle for second best.

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 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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