Federal Oversight Committee’s Issues Trickle Down

Dec 29, 2014

While the Federal Oversight Committee is in a battle amongst themselves, their issues have trickled down to merchants and consumers. What is not broadcast to the public is that there is a lot of in-fighting within congress – in-fighting within parties. This creates more chaos in an already chaotic environment, and it complicates any progress that could be made.

The biggest issue right now, though, surrounds the fact that the Fed’s dual roles as regulator and enforcer. This makes little sense to most who know if the arrangement, but it is the way that the Federal government sees fit to operate the New York Federal Reserve. While many corporate big-wigs wear many hats, it is odd that this happens at such as prestigious – and powerful – level. Congress’s take is that something needs to change, that the Fed needs to “wake up” and get their matters together before another collapse happens.  One of these matters is the changing regulations facing the collections agency, which the Fed has not yet implemented yet. Due to their slow approach to everything, these changes may not happen in the near future.

This is a big deal with you are a collection agency merchant. While the vast majority are honest and reputable, some are not, and they can cost the entire industry. One major way they can cost the industry is by making it hard to find a collection agency merchant account. This is because their bad behavior has consequences, and those consequences have labeled the industry as “high risk”. You need a high risk merchant account provider, but you need to make sure that they are experienced in dealing with collection agency merchant accounts.

With eMerchantBroker.com, your accounts are safe. We know that there are risks involved with being a collection agency merchant, and we are here to help you. While others may dump your account after a fraudulent charge, we will not. In fact, we offer a chargeback suite that helps you figure out if the charge is in fact fraudulent. If you are a collection agency merchant and are in need of an experienced and reliable merchant account, look no further than eMerchantBroker.com.

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 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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