EMB Payment Solutions Can Boost Canadian Merchant Profits

Nov 02, 2015

Many Canadian merchants face the same discrimination as their American brethren once they are labeled “high risk.” Often they can’t secure payment processing from traditional payment processors like banks. Being denied payment processing is almost a death sentence to many businesses as processing systems allow customers to pay with a variety of options like debit and credit cards, checks, online payments, and more. The more options customers have, the better for Canadian retailers who are struggling to stay in the green since the decline of the Canadian loonie.

Canadian retailers are fighting to keep their prices reasonable as the Canadian dollar weakens. According to a Retail Council of Canada study, 49 percent of retailers said that their costs have gone up by over 5 percent. The loonie’s value has dropped 16 percent over the last year, raising the price of U.S. imports drastically. Some Canadian companies are responding to the hike in costs by raising store prices, but must be careful not to chase away customers.

For several decades, eMerchantBroker has been a leading payment processor in the United States. This year, the company is expanding into Canada with the same ambitions – to be the number one online payment processor for Canadian merchants. While the loonie slumps, merchants must have a company they can rely on to bring multiple payment options to customers.

EMB helps high risk merchants open payment processing accounts with little hassle and competitive pricing.

We specialize in assisting merchants in the following industries:

  • Adult
  • Brokerage
  • Auctions
  • Bail bonds
  • Tech support
  • Diet programs
  • Advance payments, and
  • Smoke shops.

Canadians will enjoy many benefits when they join the EMB community. Our company services go beyond high risk processing.

Here are a few other bonuses:

  • Fast account approvals (within 24-48 hours)
  • ZERO set-up fees for most merchants
  • Chargeback protection and prevention programs
  • iCheck processing

As the Canadian dollar struggles to recover, retaining customers is extremely important. Offering multiple payment options to customers is one way to keep customers who expect fast and convenient payment processing. eMerchantBroker has helped many Canadian merchants obtain premium payment processing services. Now merchants can retain customers and grow their customer bases in partnership with EMB.

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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