Faster Payment Challenges Around The World | Best Merchant Account Services

Jul 29, 2016

In countries that have lots of fewer players than the United States, accessibility and omnipresence are challenges indeed. Access by more players can make things easier and eliminate barriers. Moreover, it can also increase the work of those who deal with the application process and connections of the scheme.

Payments System Around the World

The Electronic Payments Association, NACHA, has recently held its Payments Innovation Alliance meeting in Dublin. The meeting aimed at bringing together banks and providers involved in current real-time payment systems from around the globe.

Moreover, the meeting was a perfect chance to ensure participants that it would be better to “forget theory” and just “focus on reality.” This could be done through sharing the experience of actual real-time payments meaning both adoption and fraud mitigation.

Payment processing is of special importance for business owners of any type and size. To get a secure and reliable merchant account tailored to your specific business needs, consider turning to EMB. Emerchantbroker.com is voted the #1 high risk payment processor in the US and offers the best merchant account services in the industry. With eMerchantBroker, you can enjoy the lowest possible rates, easy application processes, and fast approvals.

Payments Scheme Around the World

In the United Kingdom, faster payments scheme is actual right now. In Sweden, cash was replaced with new applications, so new electronic payments featuring new, end-user behavior counted for all initial volume.

In the corporate sector, a new payment type presented led to some changes in behavior, and real-time payments led to new uses. New payment types were welcomed by small businesses in simple ways. As for payment transaction fraud, it will never be eliminated completely. However, it is possible to take measures to prevent it. With emerchantbroker.com, merchants can protect their businesses with ease.

In partnership with Ethoca, EMB can successfully reduce CNP fraud. EMB creates a bridge between merchants, and card issuing banks, enabling merchants to prevent chargebacks. EMB is ideal for high risk merchants as they can immediately get notified of chargebacks, and become actively involved in the process to resolve disputes.

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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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