China Eases Their Hold on Credit Card Payments

Nov 19, 2014

China has softened its long-held grip on the credit card payment market. While China still has a long way to go in terms of reaching the USA’s credit freedoms, this change can help ease trade talks and even help foreigners living in China. This is not only big news for those in China, but in the USA, as well.

China’s State Council announced that this change “qualified domestic and foreign firms can apply to set up bank card-clearing operations, a process that involves settling payments between banks and vendors”, which is something that American businesses have done for decades.. This helps out American credit cards Visa, MasterCard, and American Express hop into the lucrative Chinese market. Currently, Chinese-based UnionPay Co. has a stronghold on the market, but that is likely to change.

This may seem like a minor issue with American businesses, but this is a major deal. The USA already has massive trade dealings with China, and now, thanks to this loosened credit card regulation, merchants are on the verge of doing business with Chinese consumers. Online sales are steadily rising in China, and the usage of Visa, MasterCard, and American Express cards can help put money in American merchants’ pockets. While this is a fantastic venture, merchants who wish to do business with Chinese consumers need to make sure that their merchant account processor is up to the task.

Every merchant, regardless of their industry, needs the services of a merchant account processor. A merchant account processor helps you accept plastic card payments. A reliable merchant account processor, such as, can help you navigate the murky waters in the new Chinese marketplace. While some American companies already do business with Chinese consumers, they have had issues securing a merchant account, and have relied upon “high risk” processors, such as the aforementioned This is still a great idea to check out, and high risk processors are experienced in the ins and outs of tricky business ventures.

China has finally softened its stance on American-centered plastic payment cards. This brings a wealth of new business to China, as well as to the USA from Chinese consumers. While money flowing is great, American merchants need to be sure that their merchant account processor is ready for this new influx of foreign business.

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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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