My merchant account has been denied by PayPal, what do I do now?

Nov 13, 2013
paypal-denied

First off, you don’t let PayPal and their antics get you down. They just have made some new rules and they don’t necessarily work for a lot of businesses. That is horrible for the customer in one way, and very lucky in others.

First off, you can get your (high risk merchant account) somewhere else. Let’s go shopping! You need to type into the search engine, high risk merchant account. Several places will come onto the screen and you just need to compare and, look to make sure they are in fact a real business. You don’t want a charlatan.

• You want a merchant account servicer that does high risk accounts.

• You are looking for a servicer that has many options and is not afraid of a high risk merchant. You and your business are likely NOT a high risk. The reason for that assignment, is because of the high risk of refunds.

• The reason they panic over that— Merchant servicers are held responsible for any refunds that may be due to a customer and you don’t pay them. NOT something you should do. Take refunds very seriously.

• Once you have found who you want to work with, talk with their customer live chat. You can get all your questions answered, and before you sign up, you know what you are getting yourself into. Thieves don’t usually take the time to answer questions. They just want your money and they disappear.

Why would you use anyone else

PayPal has been in business for a while, but so have a lot of the other servicers and since PayPal kicked you to the curb, it’s time to find some else that will do you a better job.

Checking them out

Find some forums to look them up. See if Angie’s List has them listed. Between the two; a few clicks and you will know whether they do what they said. People are pretty honest on those forums. If there are more good comments than bad, you have a winner.

As a newbie

Even though you had a merchant account, you need to ask if you are going to have to have a trial period. That should be something you ask before you sign on the dotted line. It’s always good to have your ducks in a row before you leap into something. This is one of those times.

If you have to have a reserve account and a portion of your debit and credit transactions are put into that account, you need to know how much and for how long. It’s just another one of those ‘be prepared’ things.

If they drop kicked you

So sorry to hear that PayPal was so rude to you and now you need to sit down and find a new merchant account servicer. Remember, that if you’re after a high risk merchant account we’re here to help.

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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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