Jun 20, 2019

Payment Facilitators: Beware of the Latest Scams and Fraud

As payment systems break down walls, providing greater access to larger pools of merchants, cybercriminals find weaknesses and seize on opportunities to infiltrate. Since fraudsters continue to evolve and become more sophisticated, payment facilitators need to pay attention so they can protect themselves. Get to know the latest high-risk trends that payment facilitators face. The Biggest Treats More than 1.4...

May 23, 2019

The Future of Voice-Activated Payments

To improve the customer experience, companies have been leveraging technology to stimulate consumers’ senses through sound, light, and biometrics. Digital voice assistants, like Siri, Alexa, Cortana, and Google Assistant answer questions, play songs, and place orders but some believe they have much greater potential. Juniper Research’s whitepaper, The Digital Assistants of Tomorrow, which was released in February, predicts that the...

May 16, 2019

Michigan Man Pleads Guilty to Illegally Importing Goods into the U.S.

A Marquette, Michigan man pleaded guilty to smuggling goods into the United States using fraudulent shipping invoices, according to federal law enforcement officials. Curtis Wenzlaff, 55, pleaded guilty in April, capping an investigation by the Office of Criminal Investigations of the U.S. Food and Drug Administration (FDA). The U.S. Attorney’s Office is prosecuting the case. Background on the Case Wenzlaff...

Apr 09, 2019

Chatbots Are the Keys to Saving Money and Improving UX

By 2025, the global chatbot market is projected to reach $1.25 billion, according to a report by Grand View Research. The industry is expected to thrive as more businesses realize chatbots help significantly reduce operating costs. This is why it is no surprise that chatbots have nestled into most sectors, including retail, healthcare, and even banking. Research show it will...

Mar 29, 2019

What Does Kroger’s Latest Ban on Visa Credit Cards Mean for Consumers?

Recently, Cincinnati-based Kroger Co. announced that due to exorbitant acceptance fees it will cease accepting Visa credit cards at its Smith’s Food & Drug Stores chain, effective April 3. That means consumers that shop at any of its 134 stores located in seven Western states will have to use cash, one of the other major credit card brands, or use...

Mar 21, 2019

Non-Millennials Embrace Zelle, Making up Half of New P2P Users

Overall, millennials have driven blossoming technology, including P2P payment usage. That was until now. Zelle has managed to crack the code, gaining traction with Generation Xers and Boomers. The Digital Payments Adoption Study released earlier this month by Early Warning Services, LLC, the network operator behind Zelle, showed that 50% of first time P2P users are 45 and older. The...

Mar 21, 2019

Mexico’s Real-Time Payments May Stiff Card Issuers and Acquirers

Banxico, the central bank in Mexico, will launch the pilot phase of its free mobile payment system. The system, which aims to increase digital transaction, provide greater access to banking to underserved communities, and move the country toward a cashless economy, allows payments at participating bricks-and-mortar and online stores via QR codes. The system, known as Cobro Digital (CoDi), aims...

Mar 21, 2019

Filing Consumer Protection Claims Now Harder for FTC

The Third Circuit Court of Appeals recently issued a decision, limiting the Federal Trade Commission’s (FTC) ability to bring certain claims in both consumer protection and antitrust matters in federal court. The federal court ruled in the FTC case against the big drug manufacturer, Shire Viropharma Inc., stating the commission can only bring cases under Section 13(b) of the FTC...

Feb 26, 2019

Payment Industry Gets a Nudge with Push Payments

Payment providers embrace push payments as two companies announce new disbursement services Atlanta-based Repay and San Antonio, Texas-based Payment Data Systems Inc. announced this month that push payments, also referred to as buyer-initiated payments or instant funding are among their new service offerings. The companies say push payments are giving consumers the instant funding options they crave. How Push Payments...

Feb 26, 2019

Banks and Payments Tech Meet in the Middle, Reach Inclusion

The fast-moving world of payments technology, also known as fintech, continues to threaten the revenue flows of banks and the way the world does business. However, some fintechs have recognized how banks and payments can collaborate to build a better customer experience through innovation and speed. Those that continue to work alone and not work to become allies instead 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 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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