Digital Payment Priorities For US Merchants

May 09, 2017

The impact of mobile on e-commerce and retail is no longer a matter of surprise. According to The State of Retailing Online 2017: Key Metrics, Business Objectives and Mobile, a study commissioned by the National Retail Federation and undertaken by Forrester, online sales made up 11.6% of total retail sales in the US in 2016, and nearly half of the sales was affected by “digital touchpoints.”

54% of retailers having participated in the survey note mobile is among their top initiatives, leaving behind marketing and site merchandising. Omnichannel implementation also made the list of top priorities for 2017: 22% of survey participants mentioned it as a priority.

According to the study, on average, almost 30% of online sales conducted by US retailers were made on smartphones, which is a 65% increase from 2015.

A recent MaiChimp Audience Panel study by Salsify included 1.000 online shoppers who were asked what makes them choose this or that brand and retailer to shop and buy from. 77% of shoppers prefer a mobile device for shopping in-store. 35% of shoppers would like to ask a salesperson about something they’re interested in concerning a product.

Based on the research, consumers aged 18 – 29 would prefer to use a mobile device to do online shopping and this makes up 84%. Then come consumers aged 30 – 44, representing 78%.

Merchants interested in safe payment processing should consider turning to a reliable payment processor like, the #1 high risk merchant services provider in the US. With EMB, you can get a low-cost and secure merchant account, including an adult merchant account, to grow your business. EMB is rated A+ by the BBB and a by Card Payment Options and is one of Inc. 500’s Fastest Growing Companies of 2016.

National Retail Federation (NRF) Vice President for Digital Retail notes smartphones have the greatest impact ever on retail sales. According to retailers, even modest investments in mobile initiatives can lead to huge returns. Mobile is no longer a new approach that can be applied to reach customers: it has turned into an immensely effective method that can make customers be more engaged with the brand.

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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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