Merchant Accounts for Online Marketers

Sep 11, 2015

In the digital age, one thing has become so common on the tongues of most merchants is “making money online.” Three words that roll off the tongue like pure magic! More and more people are selling and buying online or providing different service over the internet. In fact, a good number of people currently make an entire living out of the internet.

However, there is a minor problem with the online opportunity – processing funds. This includes both sending and receiving money. Most online transactions involve credit cards and you can’t process the cards or eChecks without a reliable payment processor.

This is where merchant account providers come in. companies like EMB make it very easy to accept credit cards for service providers as well as online marketers.

How to choose a reliable merchant account provider

There are like a million merchant account providers spread across the United States. However, only a few provide good service. Here are a few factors to consider when selecting a merchant account provider;

  1. A toll-free phone number
  2. One-off and subscription billing
  3. Low processing rate
  4. Point of sale (POS) equipment and terminals for offline transactions
  5. Reliable, 24/7 customer support

Recent research shows that consumer purchase decisions are hugely influenced by factors such as toll-free assistance and round the clock customer support. For instance, an internet marketer may be overlooked by a customer if they can’t provide 24/7 support. Moreover, the type of merchant account provider you choose might impact how consumers see you. Many times small things such as delayed transactions can evoke fears of fraud or legitimacy. Ensure that the account provider you choose will not subject you to such pains.

Membership based websites are some of the best sources of revenue on the internet. It allows you to provide certain services for your customers, who in turn allow you to take out a certain amount from their credit cards periodically (typically monthly or weekly). If you’re in such a business, the payment processor you choose should be able to process subscription based payments without raising eyebrows.

Finally, you should also select a marketing firm payment processing provider who can protect your interests when dealing with processing refund requests and chargebacks. Leading providers such as EMB now allow merchants to handle refunds and chargebacks automatically. This way, you don’t have to worry about refund requests bringing other business activities to a standstill.

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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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