Exposing Security Problems

Jul 22, 2014

With the ever-increasing threat to personal details, which companies hold about their customers, it is important you can feel secure with your merchant account supplier knowing they are keeping safe your customer’s details. This doesn’t matter if they are the best merchants that provide services to the top paying businesses or the high-risk merchant account that is helping those businesses that are riskier than the standard business practice.

If it isn’t for the businesses that will take on the high-risk business options, it can mean fewer facilities and jobs around the world. There are always those businesses that operate with a higher risk value and these businesses desire the support too.

What is important is the ability to keep the security of your business as the highest priority. If hackers get into your system and remove data, then this can jeopardize any future business, which is why it is important that you protect your customer’s private information from thieves in any way you can.

However, the merchant companies are responsible too, for keeping the details of their customers safe from attack. Often attack comes in the form of hacking into a server and obtaining details, which, are sold on the black market, as fake identities. Alternatively, they assume their identity and use credit or debit cards fraudulently.

The transfer of data, which is personal, to another party who has no legal requirement for this information is as high as 40%; a staggering amount of personal data stolen from companies whom people trust. There is a surprising amount of data kept as personal, which isn’t personal and yet the personal information seems to get into the hands of thieves and criminals too easily.

Therefore, it is important that you are careful to protect any data, you have from your customers from possible hacking by criminals looking for an easy system to break into.

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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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