High Risk Merchants Say Yes to Virtual Gateway Solutions

Aug 27, 2015

Too many businesses still have old, outdated payment systems that inconvenience owners, workers, and the general public. Why live in the past where you have to worry about incompatible systems and manual bookkeeping? These methods often result in delayed funding times and exorbitant costs. The fact is there are much better, faster payment processes that will save individuals time, money, and credibility. The following are a few of the options available to merchants that make payment processing easy and profitable.

Virtual gateways are computerized versions of old credit card terminals. Gateway users process transactions from their workstations, instead of travelling to physical terminals. Virtual gateways are extremely convenient because consumers can swipe cards and their information is transmitted to a software program. This gives consumers access to reporting tools that can keep better track of transactions and other essential information.

In the modern age, it is inconvenient and even dangerous to not use software integration. When your virtual gateway is tied into your accounting system, the credit card information can be directly inputted from the gateway to eliminate any transferring mistakes and save time. Direct plugins can also mark invoices as paid to make closing procedures simpler.

Many virtual gateways also possess the ability to interface with your accounting system, store credit card numbers, and charge on schedule. This means repeat customer information doesn’t have to be repeatedly placed in the terminal, instead it will be saved. Nervous about customer information being stored on virtual gateways? Virtual gateways and credit card processors now have strong encryption technology and utilize tokenization that protects consumer information, even in the midst of a data breach.

So why not find a credible web-based credit card processing solution? Third party payment processors like eMerchantBroker.com offer fast and simple processing solutions for merchants. EMB provides an advance payment gateway and check processing services for high risk merchant accounts that is the best in the business. High risk merchants can now accept a variety of payment methods like credit cards, debit cards, and checks. Merchant advisers are available 24 hours a day to service merchant needs.

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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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