Retail Sales Are Helped By Techies and Tech Advances | Online Retail Merchant Account

Feb 29, 2016

While online sales depend solely on the ability to access the internet and navigate a webpage, brick and mortar store sales are typically more “hands on” in terms of customer coddling. Besides convenience, many choose to shop online for the ease of not having to deal with subpar employees. Employees are a shop’s front lines, and they should be kind, courteous, and knowledgeable about the wares of the establishment. While not everyone is suited to be a happy-go-lucky gal or guy all of the time, technology is helping make it easier.

Stores like Bloomingdales are using iPads in their dressing rooms to help inform sales associates and customers of clothing stock. For example, if you try on a pair of slacks and they are too small, you can order a new size on the iPad, and it will be delivered to your dressing room. No more checking in and out of the dressing room, and no more hustling across a crowded store to search for a size. This technology has helped speed up Bloomingdales efficiency, and it can help your store, as well.

If you have an e-cig shop, it can help you keep track of inventory, or place quick orders for new inventory. If you have a car dealership, you can keep track of your inventory on the lot. The possibilities are endless, and every merchant should look into the tech advances that can help advance their sales and efficiency. These advances also allow for your sales to be placed online, when need be. When those who are not technologically savvy can learn with the help of a techie friend or employee.

The other issue that comes with new technology (besides being totally inept to it) is the lack of online retail merchant accounts available. Even if you only have a small percentage of your business online, you still need to make sure that those sales are protected from hacker, and the high processing fees that traditional processors hand out. This is one of the best investments you can make for your business in this digital era.

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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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