Feb 26, 2019

Get a Hemp Merchant Account as Crop Production Soars

Most states in the United States are onboard with the cultivation and use of industrial hemp, according to the 2018 U.S. Hemp Crop Report released by the advocacy group, Vote Hemp. The report details state-by-state progress of legislation, lists acreage of hemp grown, identifies states with active pilot farming programs, showing that many states are on the same page with...

Feb 26, 2019

Fake Facebook Accounts Harm Merchants’ Bottom Lines

Worldwide, Facebook has more than 2.3 billion users. The Silicon Valley social media platform has used its number of users to lure advertisers to its pages. However, it wasn’t until recently that it came to light that a staggering number of its users include fake Facebook accounts, which were set up by spammers and scanners to break the rules or...

Feb 26, 2019

Payment Industry Gets a Nudge with Push Payments

Payment providers embrace push payments as two companies announce new disbursement services Atlanta-based Repay and San Antonio, Texas-based Payment Data Systems Inc. announced this month that push payments, also referred to as buyer-initiated payments or instant funding are among their new service offerings. The companies say push payments are giving consumers the instant funding options they crave. How Push Payments...

Feb 26, 2019

Banks and Payments Tech Meet in the Middle, Reach Inclusion

The fast-moving world of payments technology, also known as fintech, continues to threaten the revenue flows of banks and the way the world does business. However, some fintechs have recognized how banks and payments can collaborate to build a better customer experience through innovation and speed. Those that continue to work alone and not work to become allies instead of...

Feb 26, 2019

Protect an Online Gaming Merchant Account By Fighting Fraud

The online gaming industry is ripe for fraud. They games deal with many, low-cost transactions that need to be approved in real time, so it does not ruin games for players. The almost real-time nature of these transactions makes it more difficult to catch fraudsters before it’s too late. Fraudsters continue to get more sophisticated. They are always looking for...

Feb 26, 2019

Biometrics Security: A Good Start to Safer Transactions

  Any security measure is only as strong as its weakest link. The same rings true for biometrics security. Biometric data, often considered the most secure, however it is only as secure as the system that protects it. Biometric data, which uses fingerprints, visual cryptography, and facial recognition technology to make a secure online transaction or access other confidential information,...

Feb 26, 2019

Friendly Fraud – All to Blame for E-Commerce’s Worst Enemy

By now, everyone knows that Facebook not only cashed in the rampant friendly fraud generated by kids unintentionally or without parents’ knowledge downloading games from the platform, but it encouraged the practice. A few years ago, the social media giant informed its employees of friendly fraud and explained how it should not try to block it.  The result was some...

Feb 26, 2019

Bill Aims to Protect NJ Cash-Paying Consumers

According to consumers, cash is no longer king. Approximately three in 10 Americans said they do not buy anything with cash in a typical week, according to the Pew Research Center. Meanwhile, the number of people who say they only use cash for their purchases dropped from 24% in 2015 to 18%. With millennials leading the charge, the most common...

Feb 26, 2019

Gambling Industry Must Focus Anti-Fraud Efforts on Mobile

Faudsters continue to up the ante when it comes to the gambling industry. Credit card fraud increased by 155 percent over the past five years, reflecting an average annual growth of 39 percent, according to the Gambling Industry Report released by the TransUnion-owned antifraud technology provider iovation. The reports analyzes the trends that drove online gambling in 2018. Though no...

Feb 26, 2019

How PSD2 Fraud Rules Will Impact Consumers

Every consumer wants an easy, smooth, safe payment experience, and that’s exactly what Payment Services Directive (PSD2) fraud rules aim to do. This is also why payment service providers are encouraged to talk to their customers about it. By September 2019, any business with substantial European volume will need to implement strong authentication requirements as another way to ensure consumers’...

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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