Mobile & POS Retail Payment Processing

Feb 06, 2014
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During the last few years, mobile credit card processing has quite simply become the lifeblood of many small businesses and service providers. It is clear that the rapid increase in all sorts of technology and the busy, hectic lifestyles of business owners has resulted equally in the success of mobile credit card processing. With the simple set-up of a mobile merchant account and a quick download of an app on a smartphone or tablet to enable this handy service, how easy can it get? Credit card processing via mobile can be extremely convenient. On the other hand, many business owners’ circumstances can change, and they may come into a situation where they need a more traditional, straight-on method of credit card processing. Keep reading to find out which option is best for you.

There are tons of providers out there who are happy to supply a variety of credit card processing solutions, whether it is mobile, POS or both. Let’s say that you’ve been working for yourself for a few years, visiting clients personally. In this type of situation, it is clear that mobile credit card processing is the fast, simple and convenient option that is just right for you. But what happens when you take the step to open up a store? This is when POS retail credit card processing will be vital for you and your business. There are many processing solution companies out there who are happy to set everything up for those who are unfamiliar with credit card processing, ensuring you have that extra helping hand when developing your business.

Long story short, mobile payment processing is the simple option, whereas POS credit card processing is a little bit more complex. Many business owners take a long time to make a decision on which method will be just right for them and their business, but it is important to remember that the decision should be purely based on how new your business is. If you’re just starting out and have not yet opened a store, go for mobile credit card processing – this is so easy to set up. If setting up your business involves opening a store, set up POS credit card processing, which is also pretty simple to do.

So, now that you’re a little bit more clued-up on the differences between the two types of credit card processing, it’s time to do your research. There are thousands of professional, helpful and hassle-free companies who will get you all set up and provide you with the best possible merchant service package. What really matters is finding the right one for you.

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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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