How Your Credit Repair Business Will Benefit From a Credit Repair Merchant Account

Nov 25, 2014

Helping others when they have found themselves with credit difficulties is a rewarding business opportunity. Not only does it allow a way to help others, it can help to pay your bills and overheads too, because you charge a fee for your services.

The important areas to consider are how your customers will pay you for your services helping to restore their credit. Opening up a credit repair merchant account is your best option for you and your clients, as it gives them options when paying for your services.

It is important that you are able to deal with customers and clients who are in an emotional state or feeling frustrated and angry. If you are a compassionate person, this might be the business opportunity for you.

Your business will be a high-risk; you are at a higher risk of having chargebacks applied to your business or clients who are just unable to pay their bills. This means that traditional routes of obtaining credit and debit merchant accounts just isn’t possible; the high street banks just won’t take the risk.

However, it doesn’t mean that you should expect poor quality service from the merchant provider that you choose. It is important that you pick a merchant provider that specializes in high-risk; this means they will understand this is not the financial aspect of the business, which is risky, but because of the nature of the business.

Therefore, it is important that certain items should be free, like your application form. You should not pay high rates for each transaction that goes through the system and you must have the option for ‘card not present’ service because you might find that you never meet all your clients, business can be conducted over the phone or via the internet.

The credit repair business is a great business opportunity that is increasing and expanding the services offered.

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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