May 29, 2019

Issuers Moving into Acquirers’ Territory

Increases in mobile payment use, cryptocurrency, and many other factors have changed the function of issuing in the payments industry. Thanks to an industry that continues to move farther away from physical prepaid and credit cards, issuing is move full-speed into the acquiring arena. Issuing vs. Acquiring Issuing and acquiring banks are the underwriters in the payments landscape and part...

Apr 08, 2019

Merchants More Satisfied with Acquiring Banks Over Fintech’s

Merchant customers are more satisfied when they work with acquiring banks, then they do with fintechs or non-bank processors, according to the J.D. Power 2019 U.S. Merchant Services Satisfaction Study. About the Study J.D. Power, the research firm that is known for its studies of consumer satisfaction with customers, did an online study looking at 3,500 small businesses nationwide in...

Nov 12, 2018

What is an Acquirer?

An acquirer or acquiring bank has a few meanings. Sometimes, an acquirer is a business or corporation that takes over another’s ownership through a purchase or another type of action. More frequently, acquirers are banks that obtain the rights to a business’ merchant account, so that the financial institution can manage the company’s bank account. In the payments industry, an...

Apr 14, 2014

Target Corp. faces Examination and Lawsuits after Hacking Incident

After 40 million cards were affected in the Target hacking incident that occurred in the weeks following Thanksgiving 2013, two banks have stepped forward and sued Target Corp. These two banks, New York City-based Trustmark National Bank and Houston-based Green Bank N.A., have also sued Trustwave. Trustwave Holdings Inc. is a data-security services provider that Target outsourced its data security....

Dec 04, 2013

How to Choose the Right Bank for Processing the Sale of Electronic Cigarettes

The popularity of electronic cigarettes is steadily growing, and many customers tend to pay with plastic instead of cash.  Your business needs to be ready for this influx of business, and by accepting credit card transactions you are one step closer. Not only will accepting credit cards help increase sales, but it can also help reduce the amount of loss...

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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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