Jul 10, 2019

Number of ACH Fraud Incidents Continue to Climb

ACH credit fraud has steadily climbed since 2016, according to the most recent annual fraud report from the Association for Financial Professionals (AFP). In both 2015 and 2016, the number of cases of ACH credit fraud was at 11%. In 2017, the number rose to 13%. Last year, the number climbed to a whopping 20%, according to the survey, which...

Jul 10, 2019

Apple Leads the Contactless Payments Movement with the Apple Card

The Apple Card, which pushes payments deeper into the digital sphere, will become banks, issuers, and card networks worst nightmare. When consumers use their smartphones to make a purchase with the new Apple Card, the person will receive a real-time push notification. What’s unique about this card is that the entire transaction occurs in the digital wallet. Also, this type...

Jul 02, 2019

China’s UnionPay Enters Europe’s Payments Market

The largest card issuer in the world, China UnionPay, has slipped into the European market, offering credit and debit cards throughout the continent. Thanks to its new partnership with the UK-based startup, Tribe Payments, UnionPay began in June allowing banks and other financial institutions to begin offering people and businesses its branded credit cards. Now European corporate customers that conduct...

Jul 02, 2019

Visa Joins Pool of Blockchain-Based International Payment Providers with New B2B Transaction System

Visa’s new payment system for business-to-business (B2B) transactions has made it one of the newest blockchain-based international payment providers. Its Visa B2B Connect platform is based on blockchain technology and offers seamless cross-border payment processing for businesses without any third-party interference. Visa’s latest endeavor allows the scheme to compete directly with cryptocurrency startups, like Ripple, and significant players, like BNY...

Jul 01, 2019

Canada and UK Leading the Way in Contactless Card Payment Adoption

In the United States, the total number of contactless debit and credit transactions for general purchases are in the single digits. The nation can’t match the numbers in Canada and the United Kingdom. A Deeper Look at the Numbers in the UK and Canada In the UK, almost 30% of all credit and debit card transactions were made using all...

Jun 28, 2019

Are Digital Payments Killing ATM Use?

As more people pay for things with digital wallets and contactless cards, there’s no surprise there will be a decline in cash transactions. Fewer cash transactions equal less of a need for ATM machines. All of this makes sense. However, a drop in cash use doesn’t mean ATMs are out completely. A recent report showed that the numbers of ATMs...

Jun 28, 2019

Card Networks and Issuers Eager to Hop on Contactless Mass-Transit System

The way consumers pay to ride transportation systems in major cities can influence payments habits for the public. Issuers and credit card networks want to be a part of the ongoing introduction of contactless payments in the nation’s biggest transit system, New York City’s Metropolitan Transportation Authority (MTA), because they know it’s an opportunity that will boost their revenues and...

Jun 28, 2019

Visa and Mastercard Focused on Acquisitions to Remain Competitive

In an effort to stay relevant and compete with powerhouses, like Amazon and Microsoft, the card networks, Visa and Mastercard, appear to be snatching of investments and companies left and right. Don’t expect them calm down, especially as retail payments growth diminishes. They know they need to consider and buy into any investment opportunities, like cross-border payments, peer-to-peer, and interbank,...

Jun 28, 2019

EMV Card Deadline Setting Up Gas Stations to Burn

Gas stations have less than a year and a half left to meet the card schemes’ deadline to install in-pump EMV card readers. Despite Visa and MasterCard’s previous move to extend the EMV deadline, many gas stations are still not likely to meet the October 2020 deadline. Those who fail to meet compliance will meet the same fate as retailers...

Jun 26, 2019

“Operation Choke Point” Lawsuit Against Federal Bank Regulators Dismissed

The multi-year lawsuit alleging regulatory pressure to close payday lender bank accounts has been dismissed, according to the Office of the Comptroller of the Currency. Advance America et al. decided to dismiss the OCC from its lawsuit, alleging that federal banking regulators pressured banks to terminate payday lender bank accounts. This action puts an end to the 2014 lawsuit that...

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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