Oct 13, 2017

Out-of-Network ATM Fees Reach an All-Time High. Cash Gets More Expensive

In a world, where there is a rise of ecommerce, credit/debit card use, and mobile payment platforms, running to the ATM for cash is a thing of the past for many people. Cash is increasingly becoming expensive, even when accessed electronically. Cash Is becoming More Expensive Across the nation, consumers are charged $4.69 to withdraw money from a so-called out-of-network...

Oct 16, 2014

ATM Out-of-Network Fees Are Hurting Your Customers

Many small businesses have dropped their merchant accounts and have switched to a “cash only” payment method after the recent hacking jump. While this may be easier for the merchant, it is difficult for the customer, and in more ways, than you initially thought. So, before deciding to drop your merchant account, especially if you have a “high risk” business,...

Sep 13, 2014

New ATM Skimmer Will Make your Money Disappear – Canadian Merchants Beware

The European ATM Security Team (EAST) reports that it has discovered a new mini-ATM skimmer. While traditional skimmers are made to sit on top of ATM card slots and record card numbers, this new skimmer fits inside the card reader’s throat. Although only one of EAST ‘s member countries has spotted the mini-skimmer, it is an insidious reminder that criminal...

Apr 14, 2014

The Latest on ATM Hacking: Huge Sums Being Extracted from ATMs

The next time you go to use your debit card you might want to think twice. Regulators are currently worrying over the new wave of cybercriminals.  In an article by E. Scott Reckard in the Los Angeles Times, Reckard writes that “regulators are warning bankers that hackers have succeeded in changing the controls on automated teller machines to enable thieves...

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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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