Have you Been Dumped by your Merchant Processing Provider? | Get Approved for a Payday Loan Merchant Account from EMB

Jul 30, 2015

Did your Merchant Account Provider Dump you? Don’t take it to heart, we’re here for you.

EMB is proud to be the leading merchant account processor for payday loan businesses and other high risk industries.
We can help get your payment processing back up and running.

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Businesses survive on sales and sales require customers to be able to pay in their preferred payment method. Nowadays, most people use plastic to make purchases. Debit and credit cards make up more than half of most profits for the majority of businesses. However, being able to accept credit card payments requires a business to get approved for a merchant account, which is incredibly difficult for high risk businesses.

Payday loan businesses are considered high risk businesses by most banks. This makes it nearly impossible for them to find a bank that is willing to work with them. Fortunately, some merchant processors are capable of providing credit card processing services even to high risk businesses. EMB is a merchant processor that excels at approving merchant accounts for payday loan businesses.

Since businesses that offer payday loans often have to deal with risky transactions and numerous chargebacks, EMB makes it easy for these businesses to find a bank that is willing to work with them. With chargeback solutions and outstanding support, EMB has become the leading merchant processor for payday loan businesses.

Seek a Fast and Free Setup

When searching for a payday loan merchant account, you’ll often find tons of high risk merchant processors online. However, some charge hidden fees or require you to make an initial deposit. Avoid these at all costs; you should never have to pay for setting up a merchant account. EMB provides completely free setups.

A rapid setup is also highly important since time is money. The longer it takes to get your credit card payment option setup, the more sales you will be missing out on. Processors like eMerchantBroker provide fast setup procedures that can be performed in as few as 24-48 hours.

High Volumes & Multiple MIDs

As your business grows, you may hit a speed bump that requires you to get approved for multiple merchant identifications. Not all merchant processors can provide multiple MIDs, but EMB can. Getting services from a merchant processor that can handle high volume businesses is a great idea.

Chargeback Protection

Protecting your chargeback rate is crucial. Low chargebacks are highly important for a successful business. Some merchant processors, such as EMB, can provide chargeback mitigation solutions that make it easier to keep your chargeback rate as low as possible.

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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