Jun 29, 2018

Why Do You Need An Acquirer to Process Payments?

The short answer is that an acquirer ensures you get paid. Basically, an acquirer serves as an intermediary that facilitates credit and debit card transactions and ensures merchants get paid what they are owed. An acquirer is a bank or financial institution that process payments from specific debit or credit card brands. Often, an acquirer is a member of a...

Apr 24, 2018

AmEx and Visa Announce Their Decision to Drop Signatures Requirements

At the close of 2017, American Express Co. announced that it would become the third of four major U.S. card brands to cease requiring signatures for transactions beginning April 2018.  Visa was the last card brand holding onto this rule. Then, on Jan. 12, Visa announced it would also be laying the signature requirement aside. Here is a quick recap...

Dec 28, 2017

EMVco Announces Release of Framework for Secure Remote Commerce

EMVco, which facilitates worldwide interoperability and acceptance of secure payment transactions, has successfully released a technical framework for the online payments environment. In an effort to standardize online payments for greater security and interoperability, EMVco recently announced this first step toward technical specifications for companies operating in the “remote commerce environment”. What does remote commerce involve? It refers to the...

Dec 18, 2017

Feds Push for More than Just Faster Payment, The Goal is Increased Safety

In July, Part 2 of the Faster Payments Task Force Final Report was released. This report estimates that real-time payments could – and should – be on the payments scene by 2020. The industry seemed to then settle in after analyzing the report. However, the Federal Reserve jumped in in September with its own comments on how things need to...

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...

Apr 24, 2017

What Makes Mobile Wallets Successful

Consumers tend to be positive about loyalty programs, mobile ads, and chatbots and they like making a purchase from a smartphone, though they were somewhat reluctant to change their payment habits when mobile wallets appeared years ago. Retailers like Starbucks and Dunkin’ Donuts are succeeding thanks to their mobile wallets and corresponding loyalty programs. These merchant wallets are leading the...

Mar 28, 2017

Will The Durbin Amendment Be Repealed?

The Durbin Amendment, Section 1075 of the Dodd–Frank Wall Street Reform and Consumer Protection Act, required the Federal Reserve to limit fees charged to retailers for debit card processing. Durbin Amendment For merchants, Durbin is acceptable. The amendment’s interchange price cap affects card issuers with more than $10 billion in assets, which enables merchants to pay less in debit card...

Sep 23, 2015

Debit Networks Mimicking The Fixed Acquirer Network Fee (FANF), Here’s how

It is no longer a secret that some of the country’s major PIN-debit networks have over the past couple of years quietly incorporated so-called participation fees that are assessed for every merchant location along the network. The progenitor of the fees, according to a veteran market observer, is Visa’s FANF, first instituted in 2012. The Fixed Acquirer Network Fee (FANF)...

Sep 21, 2015

Who is Driving the “Speed up Payment” Initiative in the U.S.?

The U.S. Federal Reserve Bank has been working hard in the recent past to speed up payment processing. Earlier in August, a Fed task force on the matter elected a committee that will spearhead the multi-year process. The 19 member committee represents various parts of the diverse payment ecosystem, bringing together corporations such as Wal-Mart and payment innovators such as...

Sep 15, 2015

An Outlook of the Credit Card and Banking Industry

In a bid to help consumers make prudent financial decision in the aftermath of the recent recession, two leading commercial websites WalletHub and CardHub have jointly released the Q2 2015 Credit Card and Banking Landscape Report. As you would expect, the report touches on several areas of both credit card usage and banking trends leading up to the end of...

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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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