EMB #1 in Electronic Check Processing

Mar 30, 2016

Credit card fraud may be a thing of the past thanks to Photo Safe Check Deposit. The Photo Safe Check technology incorporates security features that can only be read with mobile deposit software from Mitek Systems Inc. Mitek, a San Diego based company, holds a variety of patents for mobile imaging technologies. Mitek’s mobile imaging technology is used in over 4,500 financial institutions, has 60 million consumers, and is responsible for 90 percent of all mobile deposits.

Right now, Photo Safe Deposit security features are being integrated into consumer checks. The new checks have a special icon (a camera-lock graphic) stamped on the front. Checks with the icon are recognized by mobile devices running the Mitek software, and mobile cameras scan security features on the back of the checks. The new checks are designed to prevent endorsement forgeries. Endorsement forgery happens when a fraudster uses mobile scans of the backs of legitimately endorsed checks, and pairs them with the fronts of multiple fraudulent checks. The technology also protects against front/back mismatches when depositing many checks at the same time.

According to the consultancy Celent LLC, about one-third of adults have made mobile deposits last year. The rate of mobile deposits is expected to grow even more in the coming years. The danger of fraud perpetrated by duplicate deposits has been a growing problem for banks, especially with the popularity of remote deposit capture (RDC).

Today’s businesses must be able to process electronic checks and mobile checks. EMB is a full service payment processor that offers a variety of payment options including iCheck. iCheck is an electronic check processing tool that has tons of profit growing benefits like:

  • Guaranteed funding
  • Free online activity monitoring
  • No need for consumer notification or receipt
  • Fast electronic deposit of funds, in as little as 24 hours
  • App feature that lets users take photos of checks for payment

No check writer authorization requirement

eMerchantBroker.com is a full service provider that offers electronic check processing for all types of merchants. The account managers of eMerchantBroker can get you the electronic check processing payment solutions that most traditional payment processors won’t have access to or will deny you.

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 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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