Get a Merchant Account for Document Preparation Services

Apr 14, 2020

Doc prep services are critical

Whether you’re a dedicated business owner or just an up-and-down individual, at some point, you will need document preparation services. Government agencies also rely on doc preparation firms to get many of their credentials in order.

These service providers help you prepare important documents like your loan repayment credentials and tax-compliance docs, which matter to most people.

It’s no wonder the sector rakes revenue worth a staggering 5 billion US dollars per annum. So preparing documents is an excellent place to start if you are an entrepreneur looking for a lucrative space to explore.

Securing a Merchant Account & Payment Processing Solution for Doc Preparation 

Acquiring a Merchant Account for Document Preparation Services is almost a must-do if you’re want to grow your business. It allows you to set up a payment processing solution and your customers to pay for services with their credit cards.

You can either go for a solo merchant account or join one of the pool accounts that Merchant Service Providers (MSPs) offer. These service providers will provide business your business with a virtual terminal that allows you to take credit card payments.

But banks won’t readily accept a doc preparation business for many reasons.

  1. You do many transactions online, through mail and phone, and such payments are prone to fraud.
  2. These businesses handle high ticket sales which makes them a no-go-zone for banks
  3. Excess chargebacks or reverse charges are also a major concern among underwriters

Use a High-Risk Merchant Service and Payment Processor

There are many advantages to working with a high-risk service, but security is king. Most of them understand your risks and needs— and go the extra mile to help you protect your business.

You get chargeback protection, a safe online virtual terminal that detects fraud as well as card authentication capabilities.

Other perks you enjoy include;

  • An integrated payment gateway
  • POS terminals
  • Card info auto-updater
  • ACH processing for risky businesses
  • Fraud protection
  • Telephone & mail orders
  • PCI compliant payments
  • An online virtual terminal
  • Recurring billing capabilities

And lastly, a reliable service complements these offerings with unswerving full-time support. Because of the tricky nature of your small business, they should walk with you every step.

Do a thorough search!

Conducting a detailed search can ensure you find a merchant service provider that will care for your business. Take your time; hurried decisions can threaten to bring down your business.

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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