Save Your Merchant Account from Destructive Chargebacks

Sep 09, 2014

Do you know how much profit your business is losing because of chargebacks? Most companies are unaware of the great threat that chargebacks pose to the bottom line. Your merchant account deserves protection against illegitimate chargebacks. That’s why eMerchantbroker has provided another service, the Chargeback Suite, to protect your assets as a chargeback insurance provider.

What is a Chargeback?

Chargebacks occur when customers file disputes with banks over credit card or debit card transactions. This eats into merchant profits because more than 58% of the time, the merchant is not notified of the chargeback, or is notified too late. Merchants can lose up to 270% of their money on chargebacks, or $270 in fees per every $100 chargeback. This means that customers and banks are costing your business hundreds to thousands of dollars a year without your knowledge.

Our CDRN Partnership

eMerchantBroker has partnered with Verifi and its Cardholder Dispute Resolution Network (CDRN) along with Ethoca, an alert system, to puts our merchants in the driver’s seat of credit transaction disputes. No longer will your business be surprised by costly chargebacks. Our team of chargeback insurance providers will help you take control of your bottom line.

How it Works

Once a customer notifies the bank of a dispute and the card issuer verifies that the dispute involves one of our merchants, the CDRN informs you of the dispute immediately. Then you have the power to decide to refund or decline the dispute. Upon your decision, the CDRN will notify the card issuer, bringing the dispute to an end in a timely and satisfactory manner.

The eMerchantBroker Chargeback Suite

eMerchantBroker has once again proven that it is way ahead of the game when it comes to merchant services and merchant account protection. Our relationships with both banks and card issuers, has created a fast and effective merchant solution to chargebacks. The CDRN reduces the occurrence of chargebacks by 15-30% per year, this means more money on your bottom line. The Chargeback Suite puts your business back into the dispute conversation and gives you a chance to protect your assets from undisclosed chargebacks.

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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