Play Ball! Are You in need of a Sports Fantasy Merchant Account?

Mar 13, 2015

Baseball season is here, and some is the beginning of baseball’s fantasy league. Some states are legalizing online sports betting, but can lead to a great business opportunity. However, as with all great business ideas, this one has a few glitches. Most importantly, you will have a hard time finding a sports fantasy merchant account.

Merchant accounts allow a company to take in and process plastic card payments and checks. You need this, whether you are a freestanding store or an e-tailer. While processors should want to work with a business that is sure to make money, they do not want to do with sports fantasy merchants, due to the fact that the industry is untested, and that many types of online gambling businesses have higher risks of incurring fraudulent charges. These fraudulent charges can cost the merchant and the processors many times more than the original cost of the item.

Luckily, there are options for you. High risk merchant account processors exist, and they cater to those in the high risk category, regardless if it is because of industry labeling or the merchants bad credit. The problem is that very few offer sports fantasy merchant accounts. Again, the niche is so new, that few know what to do with it. This may seem like a letdown, but there is one option that knows the ins and outs of the business, EMB.

EMB, or eMerchantBroker.com, is one of the first to offer a sports fantasy merchant account. With EMB, you will get top-notch processing service, with the added benefits of the understanding of a high risk processor. While others claim to understand the industry, they panic when a fraudulent charge arises. With EMB, we know that a fraudulent charge is just something that happens sometimes with high risk companies. In addition, our fees are industry-standard, whereas many “high risk” processors jack up their fees. When you get ready to open your sports fantasy online gaming business, be sure to contact EMB.

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 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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