Apr 28, 2017

What Does ISO 20022 Mean For The Payments Industry?

International standards body ISO has introduced new specifications for mobile banking with the aim of promoting financial inclusion. The World Bank aims to have universal financial access by 2020. The new standards will play an important role in this concern. Given technology will be supported and implemented in the area of financial services, the standards will help refine and better...

Mar 07, 2017

How to Grow Your Home-based Online Business with a Merchant Account

The number of merchants currently conducting their operations in the comfort of their homes has rapidly risen in recent times. Unlike more established enterprises, home-based businesses are less regulated, cheaper to run, and offer more flexible working hours. However, merchants that choose to work from home face the problem of limited payment options. A home-based retailer entirely depends on credit...

Feb 28, 2017

Paying for a Merchant Account: How to Get the Best Value for Your Money

The number of payment service companies is currently on the rise, and as a result, acquiring a merchant account is no longer that much of a challenge for most businesses. Many firms offer fast and easy online-based applications; whose approval takes place in only a matter of days. However, the process of opening a new account is often marred by...

Feb 20, 2017

Making a Smooth Switch from Your Current Merchant Account Provider to the Next One

If for whatever reason you’re dissatisfied with your current payment processor, it is time to jump ship. It makes no sense sticking to a firm with high rates, service problems, poor customer support or any other issues that impede your peace of mind. Unless it’s done in the best way possible, moving from one merchant services company to another can...

Feb 17, 2017

Why Accepting Credit Cards is Essential to Your High Risk Business

A merchant not accepting credit cards in today’s age and time loses a lot regarding sales and profits. Many customers see credit cards as a safer, less cumbersome way of carrying large amounts of cash and making purchases. If your business doesn’t give them the option, they’d rather move to your competitor than adhere to the alternative payment choices you...

Feb 16, 2017

Asia’s Trillion Dollar Electronic Payments Problem

Taken globally, the electronic payments industry is almost as fragmented as the mobile messaging industry for platforms like WeChat (China), Line (Japan), Viber (Philippines), and others. In North America, PayPal and its subsidiaries Venmo and Braintree play a dominant role in the electronic payments market. In Africa, Kenya’s M-PESA is the top player. It serves as a means of economic...

Feb 15, 2017

Common Mistakes Business Owners Make With Their Credit Card Processor

Payment Processing Companies: The Common Mistakes Merchants Make E-commerce has come a long way. Gone are the days when getting a merchant account for an online business was as challenging as a Greek puzzle. Nowadays, payment solutions are available to even the newest and simplest traders. As expected, merchants are opening processing accounts every day; and consequently, many are signing...

Feb 09, 2017

What You Need to Know About Merchant Account Fees

Many payment services providers have done an excellent job in ensuring their application processes are as easy and as straightforward as possible, but there is still a lot to be done regarding merchant account rates. Consequently, these companies have earned a reputation of having extensive, complicated and overwhelming fees. Unfortunately, a good number of merchants end up signing up for...

Feb 08, 2017

Opening a Merchant Account: A few Things to Consider

A merchant account is one of the essentials to the success of your business. Cash sales, snail mail, and paper invoices are no longer an effective way to collect payment. If you want your enterprise to grow, you should be able to accept credit cards. And for that, a merchant account is what you need. Thanks to straightforward companies like...

Jan 05, 2017

Merchant Services Industry, Key Players and Its Trends

With the payment ecosystem going on enlarging and becoming more complex, the merchant processing industry is growing as a part of it. Merchant services have to do with financial services for businesses. Usually, they refer to processing services that enable merchants to accept payment transactions via credit/debit cards, and also mobile payments. Merchant services also refer to payment gateways, loyalty...

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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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