Chargeback Protection = Full Merchant Account Protection

Apr 15, 2016

Chargebacks are life sucking charges that can deplete your business’ resources. Chargebacks occur when customers contact banks to dispute a charge to their accounts. This process is a necessary consumer tool to protect them from false charges or identity theft, however a large amount of chargebacks are the result of “friendly fraud.” This type of fraud happens when a customer makes an honest purchase and then disputes it in the hopes of getting their money back, while keeping the merchandise. Unfortunately, too many consumers get away with this type of fraud. Over 58% of the time, merchants aren’t even aware that a chargeback has occurred until it is too late to investigate the validity of the claim. Plus when chargebacks occur, merchants are penalized with fees from their providers in addition to losing the sale.

Merchants with an online presence must protect their assets from chargebacks. As more and more consumers stream to the internet to make purchases, the potential for a surge in online consumer fraud and chargebacks is real. Diligent fraud prevention will protect your profits, reputation, and customer information.

A recent report by Chargebacks911, a Tampa chargeback-management firm, shows the U.S. cities with the highest chargeback rates. If your business operates in these areas, be on the lookout for suspicious chargeback activity. According to the report, the East Coast has the nation’s highest chargeback rates. Cities like New York City, Astoria, N.Y, and Plainview, N.Y. have chargeback rates between 17% and 13%.

EMB Chargeback Shield

EMB offers Chargeback Shield, a specialty chargeback suite that monitors, tracks, and alerts companies whenever a chargeback is filed against them. CBS’s Cardholder Dispute Resolution Network (CDRN) is powered by Verifi and the Ethoca alert system, enables research and resolution of chargebacks. With this partnership, eMerchantBroker Chargeback Shield has reduced the frequency of merchant chargebacks by 15-30%.

Chargeback protection is one more exceptional service that EMB provides. The Chargeback Shield will defend your account while you manage your business. Let competent merchant account protection keep your business on track this year. The presence of the chargeback protection will take the risk out of high risk business. Apply for a merchant account with EMB today and get chargeback coverage right away.

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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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