Nov 19, 2018

What is Point of Banking?

A Point of Banking (POB) machine provides businesses – those that are no longer welcomed by MasterCard and Visa due to the products and services they sell, those that haven’t established themselves yet, or have no credit – with a way to accept cards without a merchant account. Merchants that want to accept and process credit card payments need merchant...

Sep 20, 2018

Point of Banking – The Payment Solution for Dispensaries

The U.S. legal cannabis industry experienced 31% growth, climbing to $8.5 billion, in 2017, according to The State of Legal Marijuana Markets, Sixth Edition” released in June 2018 by Arcview Market Research and BDS Analytics. The United States’ legal cannabis market is projected to reach $11 billion in consumer spending in 2018 and more than $23 billion by 2022, By...

Jun 27, 2018

POB for MMJ Delivery Service and Dispensaries

Do you need POB processing for your MMJ dispensary delivery service? What is POB? How can you get POB payment processing for your business? Read this article to get answers to these questions. POB and Regular Payment Processing POB is short for “Point of Banking.” POB is a payment card processing system. It requires a small convenience fee from the...

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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.