High-Risk Merchant Accounts Lucrative Business for eMerchantBroker

Apr 26, 2014
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Finding a niche to build a business on is no easy task, particularly when your industry earns you the ‘high risk’ stigma. For the majority of ‘high-risk businesses’ finding a high risk merchant account can be a daunting task.

Enter eMerchantBroker. EMB finds a payment processing service solution tailored for your business. Founder Blair Thomas had over ten years experience in the electronic payments industry when in 2011 he recognized the hurdles faced by high-risk merchants. Thomas founded EMB, based in Los Angeles, as his latest business venture after several successful agent offices and registered ISO’s. EMB specializes in finding high-risk merchant accounts for businesses banks typically turn away.

High-Risk Businesses

High risk can mean anything from online adult content websites to collection agencies to credit repair. Banks tend to shy away from these kinds of businesses labeling them as ‘high risk.’ To a bank this means there is financial risk, such as chargebacks and fraud, as well as reputational risk in doing business. Banks are strict in the sorts of business they open merchant accounts as protecting their own institution is paramount. Yet, many high risk merchants are left out in the cold—with businesses that can rack up volume of $500,000-$1,000,000 each month.

With a service that is hard to find, such as payment processing for high risk merchants, EMB can charge 1%-3% rate—creating lucrative residuals. A single high-risk account can easily out perform a traditional merchant account from a restaurant or small retailer.

Finding High-Risk Merchant Account Solutions

EMB helps high-risk merchants find banks to process their merchant accounts by looking at alternatives—such as overseas banks. Years of experience helps EMB build relationships between banks and merchants depending on their industry. Depending on your needs for chargebacks, rates and fees, and processing speed EMB finds a high-risk merchant account suited to your specific needs. They already have all the hard-to-find connections so they can simply facilitate and accelerate the opening of a merchant account for your high risk business.

As its name suggests, the majority of EMB’s clientele are online businesses. A healthy mix between high-risk merchants and traditional merchants provides the balance between risk and profit to build a successful business.

Thomas, an industry veteran, has built EMB into the #1 ranked credit card processor by TopCreditCardProcessors.com and boasts an A rating with the Better Business Bureau. In the high-risk high-reward world, stability and reputation count for something. EMB’s track record proves they are the quality solution for finding a high-risk merchant account.

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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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