Smart High Risk Merchant Processing Decisions You Need During The Holiday Season

Dec 15, 2016

NBC News reports that consumers are expected to spend over $800 billion during the holiday season in 2016. The shopping season traditionally starts from Thanksgiving.

On the one hand, consumers spend more during this period, on the other hand, there is an increase in payment processing fraud. Also, credit card processing fees usually go higher during this busy shopping season.

Take the Right Payment Processing Steps for Your Business

Equip your business with the latest EMB technology so to prevent fraudulent charges. Also, look for the best merchant processing options for your business to ensure success for your business.

Consider turning to a reputable payment processor like EMB is voted the #1 high risk payment processor in the United States and boasts an A+ rating with the BBB. EMB is one of Inc 500’s Fastest Growing Companies of 2016 and is rated “A” by Card Payment Options.

EMB offers:

  • Approval within 24/4 hours
  • High risk rates as low as 2.99%
  • Top high risk Account specialists
  • No application fees
  • No setup fees
  • No annual fees
  • No gimmicks

Since the EMV liability shift in October 2015, today almost all merchants have a chip card reader. Most of the credit cards from the bank use the chip technology, but not all companies have adopted the technology and implemented new card readers. That’s why they may easily be affected by payment processing fraud.

Based on a study by The National Cyber Security Alliance, 60% of small businesses shut down within 6 months because of a data breach. It is highly important to find a merchant processor that offers the latest technology and terminals to ensure EMV-compliant and secure transactions for your company.

Do Not Overpay for Processing

Not overpaying for payment processing is another important factor to take into account to guarantee safe and secure transactions for your business during the holiday season. According to a study by one of the merchant processing companies, over 30% of business owners pay high merchant processing bills without being aware they could pay less or without paying attention to the varying monthly charges to save more.

52% of participants in the survey believe they are paying more for merchant processing on a monthly basis. 32% of respondents either don’t pay attention to their bills before making a payment or don’t know anything about their merchant processing account. Since so much money is being spent during the holiday shopping season, do research regarding a monthly rate for merchant processing to make profit during the boom in holiday sales.

Be proactive during the busiest shopping season of the year to protect your profits and cut extra expenses. While you may not be able to control data breaches, you can make the right decision regarding your merchant processing provider. Take time to investigate your options for EMV compliance. Do not think your monthly credit card processing invoice should necessarily be confusing. You can easily avoid paying higher bills each month. Make your holiday shopping season is safe and profitable.

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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