Jul 16, 2019

CBD Remains Hot Despite Legalities

Despite the legal uncertainties surrounding cannabidiol (CBD), interest and business is booming. The U.S. Food and Drug Administration has issued warnings, noting there is little scientific evidence backing up the promoted benefits of CBD or whether its use can cause harm to people and animals. This warning comes despite mass roll outs of creams, lotions, drinks, food, supplements, and other...

Jun 20, 2019

CBD Interest Driving Spike in Transaction Laundering

As interest in CBD products have risen, online merchants experience spike in transaction laundering incidents, threatening payment service providers. In general, transaction laundering often is used to process credit card transactions for illegal medications and intellectual property infringement. With the decriminalization of CBD and other hemp products, transaction laundering has been targeting this sector, making the promising CBD industry riskier...

Jun 18, 2019

CBD Advocates Continue to Wait on Guidance from FDA

More than 100 individuals and associations interested in nailing down a regulatory framework for the use and regulation of CBD addressed the Food and Drug Administration (FDA) during a public hearing last month. The FDA will continue to collect statements until July 2, which means parties interested in CBD should expect a significant wait until they get clarity on the...

May 31, 2019

Everything PSPs Must Know Before Approving CBD Merchant Accounts

Later this week, the U.S. Food and Drug Administration (FDA) will host its first public hearing to discuss all details related to the promotion and sale of CBD products and other cannabis derivatives. As federal agencies continue to build the framework for CBD sales, payment service providers (PSPs) should weigh a few considerations before approving CBD merchant accounts. Where the...

May 17, 2019

Ingestible CBD Is Illegal – But That’s Not Stopping Sellers

CBD has shown up in everything from lollipops to smoothies in Philadelphia and New Jersey. The only hitch is that it’s legal to sell food and supplements with the compound that is derived from cannabis. Despite breaking the law, businesses don’t plan to stop selling this new cult ingredient, which is derived from cannabis, unless the U.S. Food and Drug...

May 14, 2019

Hearing About CBD Regulations as More Retailers Enter the Market

After major retailers, like Rite Aid, CVS, and Walgreens, announced their plans to test the market’s interest in CBD products, the former U.S. Food and Drug Administration (FDA) commissioner said the pharmacies could expect to run into regulatory problems. For example, Rite Aid started to sell creams, lotions, and lip balms that contain cannabidiol, which is a non-psychoactive ingredient in...

May 03, 2019

FDA Struggles to Regulate Flood of New CBD Products

Regulators’ heads continue to spin as the number of products containing cannabidiol (CBD), including lotions, drinks, hair conditioner, and more, continues to flood the market. Ever since the 2018 farm bill legalized hemp under certain conditions and allowed CBD products to be shipped interstate with limitations, regulators have been trying to get a handle on the industry. Advocates consider the...

Apr 26, 2019

CVS and Walgreens Give Thumbs Up on CBD, Possibly Paving the Way for Others

Despite the interest in CBD, many major retailers have been num on their stance concerning the compound. That was until recently. Two of the nation’s largest pharmacies, CVS and Walgreens, announced their interest in exploring CBD. Both will begin selling hemp-derived CBD products in the total 2,300 stores owned by the two chains. Soon, they will sell a variety of...

Apr 19, 2019

Why Elavon Dropped CBD Merchant Accounts

Elavon/U.S. Bank informed customers in March that it will stop accepting any new applications for CBD merchant accounts. In its email to customers, it also stated it would cease working with existing CBD businesses within 45 days. Why Elavon Dropped the Ball | 4 Reasons Why Because of the regulatory environment and the uncertainty surrounding it: As a result of the...

Apr 17, 2019

Get a CBD Merchant Account Despite Uncertainty Over the Industry

On March 5th, FDA chief Scott Gottlieb signed off on his official Twitter account, setting the stage for him to formally leave the office he held since May 2017. Now, Ned Sharpless, director of the National Cancer Institute, will take the reigns as acting FDA chief until the vacancy is permanently filled. The loss of Gottlieb has left uncertainty among...

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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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