High Risk Merchant Account Instant Approval? The Truth

May 04, 2020

Owners of risky businesses are well aware of all the hardships associated with obtaining a merchant account. Are you one of these sellers searching for a reliable and secure high risk merchant account and need instant approval? Well, don’t look any further. There’re merchant processing experts who can make things easier for you. Let’s see.

High Risk Payment Processing

What’s a merchant account? Well, think of it as a bank account giving you a credit line and allowing for accepting card payments from your customers. A merchant services provider or MSP is the very company that can help you with this.

As for payment processors, they operate behind the curtains to enable safe processing of card-based transactions. MSPs act as direct processors if they’re on the hook for not only the onboarding but also for the processing services of this type of accounts.

When it comes to the approval process, risky businesses require a far more thorough investigation into the credit history of both the business and the merchant. That’s the reason why you’ll need to provide more paperwork and wait longer than a traditional business would require.

High Risk Merchant Account Instant Approval

When applying for a merchant account both for high and low risk businesses, be ready to wait for some time to get approval from the provider. Instant approval for a merchant account means somewhere between 3-5 business days or 3-5 weeks.

Thankfully, there’re respectable merchant processing experts like eMerchantBroker.com that’re dedicated to offering exceptional terms and rates for a high risk merchant account. EMB is an award-winning payment processor and alternative online lender that specializes in the high risk field and carries an A+ rating with the BBB.

Moreover, Card Payment Options has ranked EMB as an A company. So, with eMerchantBroker.com, you can enjoy approval within 24-48 hours and submit the minimum of paperwork.

To wrap things up, acquiring a merchant account will require you to wait for some time. Hard-to-get merchant accounts will require you to wait longer to get approved than traditional ones. Happily, there’re reliable and experienced merchant processing specialists that can get you both types of merchant accounts sooner than you might think.

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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