Sep 22, 2016

Cigar And Tobacco Merchants Can Get The Best Merchant Account For Their Business

Traditional banks and most processors refuse to open an online account for tobacco merchants because the industry is classified as high risk. This means online tobacco and cigar business owners deal with a higher rate of chargeback and disputes. Get the Best for Your Online Tobacco Shop Based on the Family Smoking Prevention and Tobacco Control Act of 2009, processors...

Sep 24, 2015

How Twitter Could Save Online Tobacco Merchants

The tobacco business has faced a few setbacks in the last decade. Many merchants have gone to the internet to target specific audiences and grow their bases through customer interaction and user-friendly services. Now Twitter may make it easier to connect potential tobacco customers to the products they want, thus boosting profits for online tobacco merchants. Over the past year,...

Sep 23, 2015

Open a Head Shop Merchant Account with EMB today!

The strict regulation of tobacco makes it a high-risk business, at least in the eyes of conventional financial institutions. Today, you can’t deal in tobacco products without the knowledge of the government and even then, you’ll be required to adhere to a strict code of conduct otherwise you may be sued and get your business closed. This is nothing new...

Aug 27, 2015

Connecticut Bill Prohibits Online Tobacco Sales

Connecticut is cracking down on online tobacco sales. Congresswomen Rosa DeLauro and Elizabeth Esty introduced the Stop Tobacco Sales to Youth Act of 2015 earlier this year. The proposed bill would prohibit the sale of e-cigs over the Internet and mail to minors. Under current Federal law, the online sale of traditional cigarettes, rolling tobacco, snuff, and chewing tobacco, or...

Jul 23, 2015

Online Tobacco Merchant Accounts are a Must

Like e-cig sales and firearm sales, one of the biggest online sales areas concerns tobacco. There are many reasons for this, from sky-high state taxation (I’m talking about you, New York), to limited tobacco options, there are as many reasons as there are cigarette brands. If you are looking into a new business venture, the online tobacco industry is a...

Jun 15, 2015

Will the Reynolds and Lorillard Merger Monopolize the Tobacco Industry?

After months of rumors and speculation, the FTC finally approved the $27 billion merger between Reynolds American and Lorillard. The deal has some breathing a sigh of relief and others worried that the merger will basically place the fate of the tobacco industry in the hands of a duopoly. Initially, merger opponents believed the deal would squeeze out U.K. based...

May 11, 2015

California Lawmakers Moving to Ban Smokeless Tobacco in Sports Settings

The popular American past time, baseball, is the subject of the latest legislation concerning tobacco. Seeing your favorite teams’ pitcher squirting out a mouthful of sludge has always gone along with this American pastime. However, recent pieces of legislature in the state of California could change all of this, forcing players to keep their habits strictly off the field. On...

Apr 23, 2015

FDA is Getting Nosy with “Low-Risk” Tobacco

The FDA is looking into “low risk” tobacco alternatives, such as electronic cigarettes. While customers continue to flock to the e-cig, the FDA and others are investigating claims that they are not any safer than traditional tobacco cigarettes. While the verdict is still out, and probably will be for many years, customers will still continue to buy e-cigs. Even though...

Mar 09, 2015

Law Passes to Allow Smoking in Tobacco Shops

Cigar and tobacco retailers in Nebraska finally have something to cheer about. Since 2009 it has been illegal in Nebraska for patrons and consumers of tobacco shops and cigar emporiums to light up inside the shop itself. But, in a 34-2 decision, the Nebraska state lawmakers passed the bill marking success in its first test to becoming law. Cigar aficionados...

Feb 13, 2015

Tobacco Taxes a New Hot Topic Amongst Merchants

Being a tobacco merchant is tough. Not only do you have to compete with the booming e-cig market, but those in Bismark also have to compete with the newly suggested tobacco tax. North Dakota is trying to raise the state’s tobacco tax for the first time since the early 1990s. While many are in favor of the tax, many oppose...

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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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