Jun 26, 2019

Cash Proves To Be Resilient, At Least for Now

Though more people than ever continue to pay with debit and credit cards, as well as digital wallets, several factors look like it will be a long time before the United States goes anywhere near cashless. The Numbers Say A lot, But They’re Not Enough Recently released research released by Square Inc. titled, “Is the Cashless Society All Hype?” shows...

Jun 26, 2019

Mass Transit Systems Driving the Contactless Card Movement

Mass-transit systems and the support of the biggest issuers are fueling the movement of pay with contactless cards a part of everyday life. All stakeholders believe this will trigger to greater adoption of contactless payment options overall. The theory has been reinforced by Visa’s announcement that users of the 20 million contactless credit cards issued by JPMorgan Chase & Co....

Jun 25, 2019

EMV Chip Cards Reduce Incidents of Fraud, According to Visa

As of early 2019, EMV chip cards have continued to increase share and the number of incidents of fraud have dropped significantly in the U.S., according to Visa. The Details on Visa’s Numbers Recently, Visa reported that 3.5 million U.S. merchant locations accepted EMV chip cards as of March, which was an increase of about 400,000. There were 3.1 million...

Jun 25, 2019

Faster, Real-Time Payments Don’t Get Everyone Excited

Last month, Visa acquired control of Earthport plc, which will enable account-to-account transfers. London-based Earthport is one of the largest ACH networks in the world and allows Visa to expand real-time payment capabilities to the public. Visa acquired Earthport for $320.4 million after a fierce bidding battle with competitor, MasterCard. The acquisition connects Visa to ACH and real-time networks in...

Jun 21, 2019

Major Industry Players Back Facebook’s Libra with Money and Support

News circulated last month that Facebook had been meeting with credit card schemes, marketplaces, and other major companies in the hopes of raising a billion dollars in investments for its digital money project, Libra. Facebook’s hard work paid off. Facebook’s Libra cryptocurrency, which the social media heavyweight announced this week will debut in early 2020, has gained a firm backing...

Jun 21, 2019

Hemp Market to Hit $20 Billion in the Next Five Years

Consumers want CBD and hemp products, and the numbers back it up. A Colorado-based marketing research company, BDS Analytics, and Arcview Market Research projects CBD sales in the United States to grow by more than $24 billion in 2024. The numbers are based on products expected to be sold at retailers and licensed dispensaries. The firm believes there is great...

Jun 20, 2019

Payment Facilitators: Beware of the Latest Scams and Fraud

As payment systems break down walls, providing greater access to larger pools of merchants, cybercriminals find weaknesses and seize on opportunities to infiltrate. Since fraudsters continue to evolve and become more sophisticated, payment facilitators need to pay attention so they can protect themselves. Get to know the latest high-risk trends that payment facilitators face. The Biggest Treats More than 1.4...

Jun 20, 2019

CBD Interest Driving Spike in Transaction Laundering

As interest in CBD products have risen, online merchants experience spike in transaction laundering incidents, threatening payment service providers. In general, transaction laundering often is used to process credit card transactions for illegal medications and intellectual property infringement. With the decriminalization of CBD and other hemp products, transaction laundering has been targeting this sector, making the promising CBD industry riskier...

Jun 20, 2019

Facebook’s Digital Currency, Libra, Expected to Debut in Early 2020

Facebook’s stablecoin, Libra, allows people to shop and send money to others for nearly zero transaction fees. A person buys or cashes out the cryptocurrency online or a local exchange points, like convenience stores, while under a pseudonym of the individual’s choosing. Purchases can be made through Facebook’s Calibra wallet, which will be built into Messenger and WhatsApp, or other...

Jun 19, 2019

Bitcoin Moves Into The Mainstream with Acceptance by Whole Foods and Other Retailers

Though advocates have sung the praises of cryptocurrency, its entrance into the mainstream has struggled mostly due its volatility and favor with cybercriminals. Until now. Major retailers, including Amazon-owned grocery store, Whole Foods, as well as Crate and Barrel, and Nordstrom, have agreed to accept Bitcoin and three other kinds of digital currency. Regal Cinemas, Gamestop, Lowe’s, Office Depot, and...

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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