Choose an Expert in High Risk Merchant Accounts for Your Acceptance of Bitcoin

Oct 13, 2014

There has been recent news that PayPal is getting into the Bitcoin acceptance industry and some high risk merchants who want to accept this type of currency for goods and services. But you need to think twice before handing over virtual money to someone who does not understand or value a high risk merchant. It is in your best interest to lean on a processor who helps high risk customers every day for your Bitcoin merchant account.

Those issues that make you high risk are the same issues that will raise red flags with PayPal. You may be in an industry that is considered by the credit card associations to be subject to a high chargeback rate. Everyone hates chargebacks, including the merchant with a Bitcoin merchant account. The only person that wins is the person who made a purchase, used a fraudulent credit card, or otherwise insisted it was not their charge. Too, you have customers who say the merchant did not deliver the merchandise or devise other complaints in order not to pay.

If you have recurring billing where your customers are charged a certain amount for your services, such as an adult dating site or a credit repair business, clients may want to back out of their agreements by reporting false charges to their credit card issuers. You are in your industry to make money and you accept the risks. Conservative credit processors and large banks are not concerned about your viability. They are concerned with how much money they will lose on your account.

Once a chargeback is made, you – the seller, lose the money from your account. You are charged a fee by your processor. You have lost revenue, lost merchandise, lost time and you have lost the trust of your processor. A seasoned high risk processor understands that these things happen and even had ways and means to cut down on your chargeback percentages.

If you choose to open your Bitcoin merchant account with PayPal the results could be even worse. PayPal has the reputation of shooting and asking questions later. What this means to you is if they see a number of chargebacks your account will be red-flagged. You are not made aware of your status. Then more chargebacks come through and they totally freeze your account. Not only have you lost your merchandise, your time, and the original cost of the goods or services, PayPal will freeze your entire account. This means you have no access to your settled funds – even if they were not in question. You do not know when, or if, they will release your money to you.

When you choose to open your Bitcoin merchant account with a high risk specialist, you can expect excellent customer service from people who understand your industry. There are no application fees and no setup fees. Generally, your settled funds are in your checking account the next business day. If you keep your chargebacks under the 3% threshold, you will have no problems. And you do not have to have stellar credit to open your account.

To get approved for a Bitcoin merchant account in 48 hours contact us today!


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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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