Jul 22, 2020

Mastercard Sees Global Surge In Contactless Payments

According to an international study conducted by Mastercard in 15 countries, new payment habits by consumers are rapidly developing due to the COVID-19 restrictions. More and more consumers are abandoning the use of cash and instead are embracing “contact-free” and “digital payment experiences”.  Two Prominent Trends Found Moving Away From Cash In The Store: Almost 7 out of 10 consumers...

Jul 02, 2020

Consumers Choose Contactless Payment Amid Pandemic

Mastercard held a consumer poll where consumer behaviors in 19 countries around the world were studied and found the adoption of contactless payments surging. During the months of February and March, prohibitions were enforced worldwide such as social distancing. This ushered in a significant shift that a considerable number of consumers used contactless card payments in order to make their...

Jun 16, 2020

Credit Card Networks Boost Contactless Transaction Limits

Canadian merchant accounts benefit as the “tap limit” increase makes more transactions “touch free”.  Canada is renowned as being one of the most “cashless societies” in the world today. According to a 2017 study conducted by Forexbonuses.org., Canada was cited as the number one most cashless country with every person living there owning more than 2 credit cards. It was...

May 23, 2020

Visa Explores Online and Contactless Payments

High risk merchant accounts should consider contactless payments during health crisis. Visa, Inc. has witnessed a dramatic degeneration in sales for the second half of March, whereas the months of January and February experienced strong growth.  With the Covid-19 health crisis taking its toll on countless business sectors, Visa has not been immune to the new changes in consumer spending....

May 07, 2020

U.K.’s Contactless Payment Limit Raised To £45 To Slow Virus

Contactless payments caps are increased as retailers enforce less cash usage to fight COVID-19. On April 1st, 2020, the British Retail Consortium (BRC) announced that the “contactless limit” amount would be increased to £45 or ($53). Originally £30 ($35), this change will enable customers to tap their card on a payment device for all expenditures up to £45. All without...

Jan 27, 2020

Consumers in Canada Adopting Contactless Payments But Cautious

Canada is going contactless faster than everyone anticipated. Surprisingly, it now outshines the US in adoption rates. Nevertheless, Canadian consumers are still worried about the use of mobile gadgets. According to a recent report, titled 2019 Canadian Payment Methods and Trends, contactless payments in Canada surged 30% YOY in 2018. Payments Canada is the body that oversees Canada’s automated clearing...

Jul 11, 2019

Research Shows Contactless Cards May Have a Flat Effect on Mobile Payments

Despite popular belief, the use of contactless cards will not trigger widespread adoption of mobile payments, according to new research. Instead of easing consumers into the habit of paying for things with their mobile devices, the New York-based research firm, Auriemma Consulting Group, reported that contactless cards may not actually attract new mobile payment users. They believe this may be...

Jul 10, 2019

Apple Leads the Contactless Payments Movement with the Apple Card

The Apple Card, which pushes payments deeper into the digital sphere, will become banks, issuers, and card networks worst nightmare. When consumers use their smartphones to make a purchase with the new Apple Card, the person will receive a real-time push notification. What’s unique about this card is that the entire transaction occurs in the digital wallet. Also, this type...

Jul 01, 2019

Canada and UK Leading the Way in Contactless Card Payment Adoption

In the United States, the total number of contactless debit and credit transactions for general purchases are in the single digits. The nation can’t match the numbers in Canada and the United Kingdom. A Deeper Look at the Numbers in the UK and Canada In the UK, almost 30% of all credit and debit card transactions were made using all...

Jun 28, 2019

Card Networks and Issuers Eager to Hop on Contactless Mass-Transit System

The way consumers pay to ride transportation systems in major cities can influence payments habits for the public. Issuers and credit card networks want to be a part of the ongoing introduction of contactless payments in the nation’s biggest transit system, New York City’s Metropolitan Transportation Authority (MTA), because they know it’s an opportunity that will boost their revenues and...

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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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