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....

Apr 28, 2017

Merchant Account Application Declined? | 4 Reasons Why

If you’re a high risk business, you may find it difficult to get approved for a merchant account for this or that reason. However, knowing what your high risk processor will require from you, you can take the right steps so that not to get refused. Below you can read the main reasons why your application may be declined. Not...

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...

Dec 27, 2016

Best Merchant Services for Small Business Owners

You may find it complicated to choose the best merchant services provider when searching for the right option for your small business. Most companies offer a whole collection of credit card processing tools like virtual terminals, credit card machines, credit card readers, and more. Usually, business owners focus on the simplicity of integration and speed when choosing a merchant services...

Dec 27, 2016

For The First Time. Chase Pay App At Best Buy, Starbucks

Chase has recently launched its Chase Pay app, which was introduced in October 2015 during the Money 20/20 conference held in Las Vegas. According to Chase, the Chase Pay app, which is based on the QR code, will be available at over 7.500 participating Starbucks locations in the United States. Also, it will work at about 1.400 Best Buy stores....

May 09, 2014

Merchant Account Glossary of Terms

  ACH: ACH, Automated Clearing House, is a regional organization that bank members use to electronically transfer funds between members. AMEX: AMEX is an abbreviation for American Express. American Express is an organization that not only acquires transactions but also issues entertainment and travel cards. Account Number: An account number consists of a unique sequence of numbers that identifies the...

Feb 10, 2014

OnlyCoin: The Future of Card Payments?

OnlyCoin (or “Coin” as it is otherwise known) is an exciting start-up hoping to change the way we use card payments. The San Francisco-based team have created one electronic plastic card which is shaped like a credit card. Coin allows you to load up to eight cards onto a single plastic device and this includes your debit, credit and gym...

Dec 17, 2013

Ethoca Alerts: Protecting Your Business from Fraud

How can I Protect my Business from Fraudulent Transactions? The problem that businesses encounter when fraudulent transactions are made is the communication gap between card issuers and merchants. Notifications of a fraudulent credit transaction takes on average 3-6 weeks causing businesses to frequently lose physical goods on fraudulent orders. Using a service like Ethoca will provide your business with alerts...

Nov 19, 2013

PCI Security Standards Council reveal global standard version 3.0

As we wonder through our day we never really have thoughts that transfer over concern until our cards have been breached and our information has been taken. Councils that we don’t think of either; are on the look-out twenty four hours a day, for security issues that would make your hair stand on end. If you are in the market...

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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 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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