Is Penny Vacay the Next Step in the Penny Auction Evolution?

Jun 30, 2015

Are you ready for the next evolution in penny auctions? On July1, consumers will be introduced to the new website, Founded by Shane Marcus, the website gives users the ability to bid on vacation destinations instead of traditional merchandise. PennyVacay will offer premium vacation packages and have a loyalty and reward program integrated into the website.  Right now, all interested consumers can join the pre-launch list and bid on a cruise for 2 to the Bahamas.  This newest website is another step in the evolution of the penny auction industry and could further solidify the culture of paying for less for premium products.

Penny auction websites have become extremely popular over the past few years. Hundreds or thousands of items are eligible to be bid on every day by consumers ready to buy high ticket items for low prices. When done right, penny auction sites can make millions in profits as consumers go on the hunt for super bargains. Interested investors should consider adding penny auction sites to their portfolios.

Here’s a little insight into how penny auctions work. Penny auctions function on a simple premise that is designed to fulfill consumer needs for bargains. Penny auction websites post desired merchandise online for only a limited time. These items are then bid on by consumers. After the merchandise is posted, a clock is started that begins to count down. The clock is reset every time a new person bids on the item. Penny auctions do require bidders to place money on merchandise (one dollar per bid) that they are not guaranteed to win. The winner of the penny auction is the bidder who makes the highest bid at the end of the clock’s cycle.

Now is the time for a real look into this booming industry. If you are an entrepreneur looking for a unique investment in a new and thriving industry contact Even though the penny auction business is legitimate, most traditional payment processors still refuse to offer adequate and fair payment processing for your customers. The proficient agents that work for will manage your penny auction merchant account today with no unreasonable penalties and no hassle. Contact us 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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