How API Can Grow Your Business

Jul 01, 2016

The emergence of cloud technology has had a major impact on the point of sale industry. The latest trend shows the POS industry pushing towards centralization. This process has generally involved the integration of two or more systems. Point of sale vendors can’t possibly give merchants access to every cloud technology. It takes the collaboration of different software providers through use of each other’s APIs to bring powerful and lucrative integrative technologies to businesses.

What is API?

Application Program Interface (API)

An API is a set of routines, protocols, and tools that enable programmers to construct connections between 2 or more software interfaces. These connections make it possible for applications to communicate exchange data. There are two ways to go about integrating your POS system with another desired system (CRM, accounting, eCommerce, etc.): a prefab integration or a custom integration.

What is Prefab?

Prefab integration involves premade integrations that are designed to provide common merchant services. They are the most common connections that POS vendors construct between their software and a third party.

What is Custom Integration?

Custom integrations are those that are built specifically for your needs. This requires access to the API’s of your POS vendor and whatever external software you want to integrate with. Please note that some companies charge for access to their APIs, so this should be considered in the overall cost of your custom integration.

Which One is Right for Your Business?

Prefab is a cheaper and quicker option that enables easy integration between different businesses. Why spend money and time on re-inventing the integration wheel? On the other hand, if you do take the time invest in customization, it may pay for itself and then some as consumers will value an innovative product that fulfills their needs. In the end, whether to choose prefab or customization depends on your business’s needs and what you can afford to spend to address these needs.

Now is the time for merchants to use APIs to expand their services and profits. EMB is a payment processor that provides high risk merchant services that support the needs of the modern merchant. EMB knows how important it is that your customers have access to multiple payment gateways. Our high risk experts will get your merchant account started in less than 24 hours.

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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