High Risk Payment Processing: Your Options

Feb 22, 2018

Is your business considered high risk? Have you already been turned down by many credit card processors? What’s the way out? How can you get approved for payment processing? Read this article and you’ll get answers to all your questions.

When Your Business is Labeled as High Risk

Many small businesses and startups have innovative ideas and want to put them into implementation. One of the things that can put these businesses into a difficult situation has to do with their risky nature. If a traditional bank considers you’re too risky to get approved for payment processing, you’ll be rejected. The same is also true with many payment processors.

Though it can be challenging to find quality credit card processors for your high risk business, it’s not impossible. The bad thing is that this makes high risk merchants very often sign up with the first provider that will accept them. Instead, merchants should research all the available options and make the right decision.

What does make the approval so challenging? Well, the thing is that high risk merchants are usually exposed to chargebacks. Moreover, they can end up with fund holds, excessively high rates, or may be placed on the TMF/MATCH list. That’s why this type of businesses should look for a reputable payment processor that specializes in the high risk industry and knows their business wants and needs.

If you’re interested in payment processing, especially high risk, consider applying to eMerchantBroker.com. EMB is voted the #1 high risk credit card processor in the US. Also, EMB boasts an A+ rating with the BBB and an A rating with Card Payment Options.

High Risk Payment Processing From EMB

To get approved for a merchant account, you should meet the given processor’s or bank’s underwriting guidelines. The difficulty that high risk companies usually have with underwriting guidelines forces them to look for alternative payment processing companies, including high risk and offshore merchant processors.

eMerchantBroker.com supports a wide range of high risk business types. EMB has years of experience working with high risk merchants and has approved thousands of hard-to-approve merchants get the best for their business. Merchants value EMB for offering fair pricing and quality customer support.

eMerchantBroker works both with traditional and high risk merchants. EMB aims to provide every merchant with credit card processing services, regardless of the type of business they run. EMB truly cares.

eMerchantBroker.com talks to every single merchant to get a better idea of his/her business. Then, EMB works with banks specializing in the types of business the merchant is in.  EMB is extremely transparent about its pricing and its process. Merchants get to know all of the rates they’ll be getting before committing to anything.

With EMB, you can enjoy:

  • The ability to process debit/credit card transactions.
  • The ability to take checks by web and by phone.
  • Short- and intermediate-term business funding for high risk merchants, including cash advances as quick access to working capital, as well as ACH business funding solutions.
  • Chargeback Shield to protect your business. You’ll immediately get notified when chargebacks occur. EMB will assist you in resolving disputes through the Cardholder Dispute Resolution Network (CDRN).
  • Fast approval: within 24/48 hours
  • Easy and hassle-free application process
  • Secure gateways, including EMB’s own gateway
  • No application or setup fees
  • No annual fees and no gimmicks
  • And more.

eMerchantBroker.com works with any type of business, regardless of the perceived risk. Almost any business can get approved with EMB, either with credit card processing or check processing. Even if your personal credit is in the 500 range, you may get approval from EMB. In fact, EMB approves up to 95% of the merchant applications.

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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