Oct 25, 2022

Payday Loan Merchant Account: What You Need To Know

Monthly calendar with circled payday loan date. If you run a payday loan business, a payday loan merchant account is essential. The account will enable you to bill and accept payments from clients.   When shopping for a payday loan merchant account for your business,  it is important to consider payment processors with products tailored for high-risk businesses.   What Is A...

Sep 18, 2017

Congress Expected to Vote on CFPB’s Federal Rule on Payday Lending

A payday loan, which is also known as a “payday advance,” “salary loan,” “payroll loan,” “small dollar loan,” “short-term loan,” “cash advance loan,” or “check advance loans,” is a small, short-term unsecured loan. It’s a type of short-term borrowing where you borrow a small amount at a very high rate of interest. About 12 million Americans use payday loans each...

Jun 07, 2017

Payday Lender Merchant Account Solutions

Payment processing plays a vital role for companies in the modern world of business. Most businesses can apply for payment processing solutions, but some of them are classified as high risk by banks so they may face difficulty getting approved for a merchant account. As a result, these businesses become unable to accept credit cards as a payment type. Payday...

Jun 06, 2017

Everyday Low-Cost Payday & Title Loan Merchant Accounts

In the modern world, people choose to pay via credit and debit cards, that’s why a merchant account has become absolutely necessary for not only face-to-face sales but for those via phone or internet. Merchant accounts for payday and title loan companies play a vital role, but they are often so much challenging to obtain. Payday loan companies offer short-term...

Sep 02, 2016

EMB’s Exceptional Credit Card Processing For Pay Day Loan Merchants

In the modern world of the Internet and high technologies, people choose to make payments via credit and debit cards. That is why merchant accounts have become inseparably linked not only face-to-face sales but to those being made via phone or internet. It is worth mentioning that even though merchant accounts for payday loans merchants are of vital importance, they...

Apr 27, 2016

Operation Choke Point Vs. Payday Lenders

The Federal Deposit Insurance Corporation (FDIC) has noted that payday lenders, gun stores, and more than 24 other industries are “not wanted.” Operation Choke Point Operation Choke Point, a Department of Justice (DOJ) program or initiative, started in 2013. The goal of this initiative is to remove fraudulent businesses from the industry by stopping their access to the banking system....

Mar 23, 2016

Important For Payday Loan Merchants – ACH Transaction Growth In 2015’s Fourth Quarter

ACH governing body NACHA (previously the National Automated Clearing House Association) has recently reported the total amount of transactions was 4.98 billion in 2015’s 4th quarter. This is up 5.5% from 4.72 billion registered in 2014’s fourth quarter. 2015’s third quarter had 5.9% increase. Fast-growing Transaction Codes Transaction categories related to one-time and recurring consumer payments are playing a major...

Feb 24, 2016

Canadian Payday Loans | Merchant Accounts Surge

Payday loans are already a big moneymaker in the United States, and our northern neighbor are learning how profitable they can be. In the past year, payday loans in British Columbia have risen a whopping 21%. This is leading the way for Canadian merchants to look into this industry as a new business venture. While payday loan merchants can make...

Jan 25, 2016

Payday Loans are Huge, But Taking Payments Can Be an Issue for Merchants

Payday loans are usually the last resort for consumers, and it takes a dedicated merchant to successfully operate a payday loan company. While consumers may keep you busy, many payday loan merchants have a tough time accepting plastic card payments. The government, banks, and processing industry turn up their noses at this lucrative industry, and because of this it is...

Sep 25, 2015

Payday Lenders Must Prepare for New EMV Rules

According to a recent survey of 600 U.S. small business owners, only 32 percent of small business owners are aware of the impending Europay, MasterCard and Visa (EMV) rules. These rules require that all businesses upgrade their POS systems so that they can read chip-enabled credit cards by October 1st, 2015. Any business that does not comply with this rule...

Award winning.

  • 2012
  • 2013
  • 2014
  • 2015
  • 2016

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.

Live Chat