How to get a Merchant Account for a credit repair agency

Sep 24, 2013

Merchant accounts are designed to process credit card and debit card transactions for your business. If you don’t have a merchant account, it’s the next logical step for the convenience of your customers. Not only can they pay you twenty-four hours a day, but with the flick of a key or a touch of the pad, you will have your money and they can be on time with their payments.

If you are running a credit repair agency, then this is the utmost important step in the design of your business plan. You are there to assist them to repair what has gone wrong. They have turned to you to help fix what is broken. Do not let them down by allowing their payments to process through snail mail. Even bill pay has become slow and might even fade into the sunset.

Credit repair merchant account

With some research online, you can locate a merchant account processor that will fit your needs. Find the one that fits your business like a glove, and keeps the fees down to a minimum. After all, you don’t want to have to pass those fees onto the clients. They are already in trouble, and any more money woes might cause them to pull up their stakes, and leave your business.

Set up the account

Most sites will take your information and process it within hours. You will have your answer and you can get to work. Some will need more information and it may take up to forty-eight hours to finish all the paperwork, but when you are done, you can process those client payments and begin receiving payments into your account within days. Some will put the payments into your account within twenty-four hours.

High Risk Pool

Having a credit repair merchant account will help ease up on your client’s stress, as well as your own. But know, being part of this industry will put you into a high-risk account. They may ask for certain concessions when you apply for the account. You might have to have a reserve amount of money while you build your business. Work with the merchant’s account, they will release the money as they learn you are a respectable business and you run a good honest clientele. As that occurs, they will begin to back off on the reserve amount and you will get all those payments released into your account. It’s not any different than a bank asking for collateral. This just works on your payments, so be ready to adjust for that.

The high-risk pool is nothing to worry about either. A lot of the industry giants are vetted for this part of the pond. It only means that you may have a large number of chargebacks. Our airlines, movie theaters, and even some of our stores have the same kind of account as the credit repair merchant account. So, don’t be overly afraid to find one of these accounts. It will help you, and it will help your clients, so go shopping for that 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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