EMB Continues to Offer Payment Solutions for HCG Merchants

Mar 10, 2015

Human Chorionic Gonadotropin, commonly known as HCG, is a trendy weight loss supplement that merchants in the healthy living sector have been stocking for over a year. But, it’s been a nervous year. The Food and Drug Administration had yet to regulate or offer any definitive feedback on the supplement and the HCG diet plan. Merchants were forced to sweat it out stuck in regulatory limbo. Until now.

A recent crackdown by the FDA has seen many merchant accounts in the HCG weight loss supplement business frozen or outright shut down. Now, more than any other point in the past, merchants face a struggle to simply accept non-cash payments for the HCG injections.

Unlike banks and traditional financial institutions, EMB has chosen to stand strong with HCG merchants. eMerchantBroker.com offers e-check solutions for merchants hung out to dry by the FDA’s crackdown. E-checks remove banks from the payment equation allowing merchants to directly accept payment via electronic deposit. This cuts out the paperwork, bank fees, and keeps the transaction domestic as EMB is based in Los Angeles so merchants don’t have to pay international fees.

Even before the FDA’s crackdown, it was tough to find an HCG merchant account at a competitive rate that wouldn’t cripple a business. HCG itself is a hormone that is produced at elevated levels during pregnancy. The HCG levels of a pregnant woman led to weight loss experts to experiment with the hormone as a weight loss supplement. Today, a few HCG drops are linked to shedding unwanted weight. These HCG injections have become big business, but now irrevocably labelled as “high risk.”

EMB’s stance to support HCG merchants is more than just a promise. EMB will help merchants change processors while maintaining a competitive rate. The process can begin in as little as 24 hours forgoing a lengthy procedure during which your business can’t accept electronic payment. By enabling a fast and smooth transition, EMB is allowing this potentially game-breaking decision by the FDA to be a mere bump in the road for HCG merchants.

As some HCG merchants are reeling from the FDA’s new posture, the savvy ones will be adapting and proving the flexibility of their business plan by switching to e-checks at EMB. The challenges of owning and operating your own business will test any entrepreneur, but with companies such as EMB ready to stand by the high risk industry, businesses can adapt and thrive in a changing market.

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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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