Is it Time to Get a New Payment Processor? | Bad Credit Merchant Account

Oct 30, 2015

Finding a merchant processor can be a daunting prospect for many business owners. If the business is in a high risk industry, it can take months or even years to secure a payment processor willing to give them a merchant account. As a result, once businesses do find a payment processor, they will stick with them even if services rendered are not satisfactory. But how will owners know when it is time to find another payment processor?

Fees Have Gone Up
Many merchants acquire services through banks. Sometimes their fees can skyrocket and business owners are caught off guard. When fees do go up, merchants can sit down with bankers to take a look at statements to see why businesses are hit with fees. Often the plans that merchants choose at first, no longer work because of differences in card usage at POS. For example, merchants can be hit with higher fees due to phone transactions as they pose a higher risk for fraud. Combing through questionable fees in this manner, can reduce fees in the long run.

Unpredictable Credit Card Fees
Some merchant processing plans have tiered pricing where different credit cards come with different fees. Most merchants don’t prefer this model due to the unpredictability of fees. As a result, some switch to an “interchange plus” plan, where you pay the same fee no matter what type of credit card is used. To avoid unpredictable fees, other entrepreneurs utilize services like PayPal, Square, and Stripe which offer set fees for transactions.

Hard to Leave Processors
When entrepreneurs try to leave payment processors, they run into significant interference. Often the processor won’t readily hand over the customer records to be transferred to a new processor. This can be a tough obstacle to get around. When merchants use services like PayPal, Stripe, or Square they are using the merchant accounts of these services. If merchants want to go to another payment processor, they will not be given customer information to take with them, which means they’ll have to start with a new customer base.

Starting a new business is challenging enough. Merchants shouldn’t be stressed out over problems with payment processors. offers simple and business friendly payment processing. Never be hit with irregular or hidden fees. EMB has no application fees or VISA and MasterCard requirements.

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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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