Getting the Best Title Loan Merchant Account

Jun 26, 2017

Consider applying for a title loan, if you need a fast and easy way to get cash using your car title instead of your credit score. The potential borrower will temporarily hand over the ownership of your car to the lender until you pay back the loan.

Payday loans, title loans, cash advances, and check cashing services are among the easiest ways to get access to capital without the need to turn to a traditional bank. However, payday lenders don’t enjoy the same convenience when trying to open a merchant account.

Payday loans and title loans are tabbed as extremely high risk because of their high potential for default, their possible exposure to government regulation, and the financial instability of their consumer base. This can make it challenging for unsecured loan providers to find credit card processors, even when their businesses are legitimate, thriving, established enterprises.

Fortunately, there are reputable merchant account providers like eMerchantbroker.com that specialize in the high risk sector and are willing to offer merchant accounts for auto title lenders and payday loan stores. If you’re interested in car title loans, turn to EMB.

EMB is voted the nation’s #1 high risk processor and boasts an A+ rating with the BBB. EMB is rated A by Card Payment Options and is named one of Inc. 500’s Fastest Growing Companies of 2016. eMerchantbroker.com has years of experience in the electronic payments industry and has helped thousands of “hard to approve” merchants get a domestic merchant account.

EMB’s full suite of electronic payment processing solutions ensures virtually any merchant can accept credit cards and checks electronically. With EMB, you can enjoy:

  • Fast approvals in 24 – 48 hours
  • No setup fees for most merchants
  • High Risk merchants approved
  • High volume solutions: load balancing gateways and multiple MIDS
  • Chargeback protection and chargeback prevention programs available
  • iCheck Check Processing service, featuring quick payments.

Car title loans can help you get money when you need it on the double. Take the time to find a reliable payment processor to apply for a car title loan. Research all your options and choose the one that best suits your needs.

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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