Aug 26, 2020

The Pandemic Effect: Growth Opportunities & Challenges facing the Dating Industry

More and more people are turning to online dating sites amid a pandemic thanks to the lockdowns and stay-indoor rules. In mid-March, websites like Dating.com announce in a Press Release in PRNewswire.com that it had recorded a surge in the number of new signups at the start of the month. But more new customers often come with excessive chargebacks, fraud and...

Aug 25, 2020

Payment Providers are Changing Rules: Is Your Money Safe If Payment Processing Hits Rock Bottom?

Merchants who process payments through acquirers and payment processors must worry about what would happen if payment processing faces hiccups. While losses are unlikely, the current COVID-19 recession has had negative impacts even on large financial institutions like banks and may cause panic among merchants who rely on them for various services. Payment processors are now tightening rules and making...

Aug 24, 2020

What You Should Know About Merchant Accounts and Services

As of April 2020, online payment methods accounted for more than 58% of payments processed:  merchant accounts were the only means to handle that. To learn more about merchant accounts and services and discover a unique merchant processor, keep on reading this post. Merchant Accounts and Services Don’t think of a merchant account as a service: it’s a collection of...

Aug 05, 2020

Understanding Credit Card Pre-Authorizations

Using credit card pre-authorization is an important procedure that merchants can use if they accept payments both online and in-store. It serves as a guarantee that the customers will pay for the products and services they use. It is also a time and a money saver as they don’t have to worry about paying fees for refunds, processing any chargebacks,...

Jul 16, 2020

Nine Ways Gas And Convenience Owners Can Slash Fraud Risk

As the April 2021 deadline for the EMV Compliance liability shift is forthcoming, both gas and convenience owners need to get onboard to upgrade their “forecourt” as well as all other payment systems.  Brian DuCharme, Vice President of Product Management at TNS made this announcement: “While some fuel retailers have been hesitant to upgrade, the reality is that the time...

Jun 24, 2020

How The Payments Sector is Responding To COVID-19

The COVID-19 pandemic has left an indelible mark on the health and financial well being of millions around the world. In the payments industry, merchant acquirers have certainly not been spared.  The current crisis has brought an unprecedented amount of chargebacks. With the disastrous restrictions and regulations against all air travel and hotel accommodations, the end result will be endless...

May 23, 2019

Merchant Service Providers Must Embrace Instant Funding to Stay Competitive

When it comes to getting their money, businesses and consumers want it fast and convenient. No one has time to wait, and if they can’t get it when they want, they will go elsewhere. There is no loyalty in payments, and a new report proves it. In the U.S. economy, business-to-consumer disbursements have traditionally been made via mailed checks or...

Dec 19, 2018

Merchant ID (MID) | All There is to Know

Are you a new merchant account holder trying to get a better idea of what a merchant identification number (MID) is? What’s this MID that’s come with your account? No worries! Just read the article below and you’ll know! Merchant Identification Number (MID): What It Is A merchant identification number is defined as a unique code that you, as a...

Oct 31, 2017

What Is a Merchant Identification Number?

The whole procedure of processing an online or other transaction involves a number of variables to ensure safe and secure payments. These measures are implemented to ascertain that all payments are channeled to the right accounts and through the correct network. For that reason, every merchant must possess specific identification data to enable safe and timely processing of sensitive confidential...

Jul 13, 2017

VISA Helping Small Businesses Go Cashless

According to the 5th annual ING International Survey, cash is fast becoming less popular among consumers in Europe, the US, and Australia. Alternative forms of payment are increasingly gaining more popularity. The survey included responses from 14.692 respondents based in 15 countries. Nearly 27% in Australia, 21% in Europe, and 34% in the US said they mostly preferred cashless payments....

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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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