Do Not Let a High Risk Label Keep You From Having a Penny Auction Merchant Account

Aug 15, 2014

For the customer who joins your site and bids on outstanding offers, there is excitement in the bidding and joy in the winning. Those looking for exceptional deals will spend hours on one site watching the bidding taking place and raising the stakes when it seems appropriate. If a potential customer has difficulties in having his credit or debit card accepted, he can simply turn away and go to another site. More and more are budding every day. If your penny auction merchant account is being held or overly scrutinized by your current processor, it can affect your bottom line.

On the other side of the fence is the actual owner of the penny auction. He has learned that this type of site is a really good passive income stream. If the right products are purchased and sold, the profits can be outstanding. When so much thought, time, and money have been spent collecting the right items that will demand a lot of action, why should a gross amount of profits be going to the credit card processor?

Those who are not familiar with will be very pleasantly surprised. We are high-risk account specialists. Some penny auction sites have been known to automatically raise prices with an automated bid system or software. This is not fair to the members who have joined in good faith and expect the penny auction to operate above board. Also, because of the element of chance, the credit card industry lumps penny auctions in with other gambling sites. Thus, the entire industry is listed as high risk.

It does not seem fair that good penny auction merchant accounts have to pay the price for the few who wanted to make a quick buck. At eMerchantBroker, we understand that not all penny auction merchants belong in a high-risk category. This is why we look at the big picture rather than a small sub-feature. If you can keep your chargebacks under three percent, we can get you a penny auction merchant account with features you did not think were possible.

We are the experts in high-risk merchant accounts. It is what we do 24/7. When the auction has fewer than the allotted chargebacks, we can offer a complete suite of CPI-compliant penny auction merchant accounts. You may have been turned down by your bank or by a traditional, low-risk credit card processor. We are glad you shopped them first so that you will know what a great asset we are. There are no application fees and no setup fees. Your rates are not excessive. Plus you will have a secured payment gateway and you do not need to have a Visa or MasterCard in order to open your account. And the cherry on top of the icing is that your funds will be deposited into your account within 48 hours.

Do not let your bank or the conservative processor get you down or turn you down.

To get approved for a penny auction merchant account in 48 hours  or less, fill out the short form by clicking on the button below

Let us help you get a penny auction 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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