Payday Loan Merchant Account Solutions with EMB

Nov 22, 2014

It might be odd to consider some businesses are high-risk, even if they have the perfect credit rating, in their business and in their personal life. However, sometimes the business itself creates a high-risk and not the financial side of the business at all.

If your business is high-risk, it doesn’t mean that you are not able to get hold of financial products that are often associated with a bank. Merchant account providers are businesses themselves, they can process businesses debit and credit card transactions; if they work with high risk businesses, it means that they deal with those businesses that the banks deem too risky.

It is even possible to open a payday loan merchant account, providing you talk to the right merchant account provider.

High-risk merchant account providers are not hard to find, what is more difficult is ensuring you get a great deal. It is not impossible to find a deal that can process your application really quickly, 24 – 48 hours is a great time scale and this allows you to move forward with your business and not waiting around for answers.

For this reason it is important that you pick a specialist high-risk merchant account provider. Those providers, who are used to the high-risk categories, are able to look at the information objectively and to make quick decisions. It is important that you check for hidden fees and costs, some try to charge set up fees, this should ring as an alarm bell and you should not consider a company that is charging you for providing merchant account facilities.

While it is important that you find a high-risk provider, it is important that you understand all the potential fees associated with the provider, make sure that you understand their terms and conditions before you sign up, sometimes the deals aren’t as perfect as they might initially seem.

Let us help you get a high risk merchant account today!

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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 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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