Consumers, Merchant, And Payment Factors in 2016

Feb 11, 2016

In the modern world of business, it is useless to be a creative, original thinker unless you can also sell what you create.” – D. Ogilvy

According to MPD CEO Karen Webster, 2016’s ecosystem will be impacted by 6 main trends. Countertop checkout won’t die out, but the situation will change dramatically.

  1. Mobile App Payments

The online and offline blurring trend will expand further and faster. This will be dreadful for the countertop checkout.

Consumers will prefer cloud-based apps for checkout on their mobile devices inside stores. They will start paying for things even before entering the store. Increasingly, consumers will look for merchants who provide them with such ability.

QSR feels the mentioned impact in an incredible way and in a short period of time.

  1. Faster Payments

The US aims to enable more secure, data-rich, and faster payments. In the fall, NACHA is going to launch its universal Same Day ACH, thus being the first to enable advanced faster payments in the US.

The issue of faster payments will imply speed, efficiency, and flexibility based on the appropriate levels of data, security, risk management, and compliance.

Merchants operating in Canada should consider turning to EMB to enjoy exceptional payment processing benefits for their businesses. With EMB, you can get your high risk Canadian merchant account with ease. Being the #1 high-risk processor in the US, EMB offers ultimate payment services to its customers.

  1. Contextualized Commerce

Modern Contextual Commerce 2.0 will establish new relationships between consumers and brands.

In 2016 and in the upcoming years, success will be based on providing appropriate commerce experience via any operating system, buying environment or channel based on secure digital account credentials.

  1. Amazon Can Be Just An Alternative

Thanks to its simple, fast, and efficient services, Amazon crushed the holiday shopping season in 2015.

Given the online friction, retailers should find the best and the right way to have better sales and appropriately deal with data problems.

Retailers will target on delivering their omnichannel ambitions in a better way. Online credentials will be used to pay for something via cloud-based apps from a physical store.

  1. Towards Increased Loyalty

Data can influence and change the problem of loyalty. The frequency of use counts for preference, engagement, and loyalty.

Creatively integrating loyalty capabilities into payments app, retailers will have data on consumer behavior and will get to know how to communicate with consumers.

Loyalty programs will be built around payments, data, and enabling platforms, thus allowing consumers to get more valuable things from retailers. This will result in building a lasting relationship between merchants and consumers.

  1. Consolidation Vs. Payments

2016 is great if you’re looking for assets for a reasonable price. The payments and commerce industry are expected to become stronger.

Emerging and operating firms will focus on the value they offer to their stakeholders. Survivors will start 2017 with greater strength and power.

Let us help you get a high risk merchant account 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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