Reliable Online Merchant Accounts

Nov 02, 2016

Credit cards are nearly omnipresent in payment transactions at all levels of the economy. Today, online payment processing is important for both small shop owners and larger online merchants. The number of consumers preferring to pay with cash goes on decreasing. As a result, credit and debit cards are increasingly replacing old-fashioned greenbacks when it comes to buying goods and services.

Choosing the Right Merchant Account Provider for Your Business

Many people will claim PayPal is their preferred online billing platform. PayPal is really is powerful tool for accepting and sending funds, and is a highly effective online billing option. However, it’s not the only option to try. You can choose other alternatives to PayPal that are more affordable and offer more advantages to your specific business needs.

No matter, you’re a freelancer or doing an e-commerce business, you should have a trustworthy payment processor. To open an affordable and reliable online merchant account, consider turning to EMB is voted the #1 payment processor in the United States and has an A+ rating with the BBB. You can also choose Amazon Payments, Google Wallet, Skrill (formerly Moneybookers), Stripe, Payoneer, and more.

Nowadays, online merchants accepting only electronic payments are on the rise. In the near future, paper money is expected to become obsolete. In our modern economy, payment cards have booming popularity thanks to the incomparable convenience they provide for users.

The Future of Online Payment Processing

Given online businesses and e-commerce stores are growing with rapid advance all over the world, the number of payment schemes across the globe already exceeds 300. It is expected the global e-commerce market will make up $2.4 trillion by 2019.

The landscape of alternative payments is developing. The recent statistics in the field show people prefer alternatives or local payment methods.  Today’s alternative payments sector is expected to claim 55% of e-commerce turnover by 2019. As for m-commerce, its global mobile penetration has grown 39% since 2009.

With this in mind, it is critical to figure out which payment processing option best fits your target market needs before adding payments to your website.

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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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