Dec 19, 2018

ACH Debit Transactions | Everything There Is to Know

For a quicker, safer, more efficient way to electronically move funds among banks and financial institutions across the United States, merchants must consider accepting ACH debit transactions. Understanding ACH ACH debit and credit transactions occur on the Automated Clearing House (ACH) network, which under the oversight of NACHA, connects more than 25,000 banks and other financial institutions, allowing for to...

Dec 15, 2017

ACH Successfully Launches Same-Day Debits Before Year’s End

Processing just got a little bit faster. Mid-September, it was announced that the nation’s automated clearing house network had launched same-day clearing and settlement for debit transactions. Same-day debits have been called “Phase 2” in NACHA’s faster-payments plan. Phase 1, same-day credits, was introduced a year ago, allowing users to move payments from their bank accounts to the accounts of...

Feb 06, 2017

Same-Day US Electronic Payments. Prior To Phase 2 of Same-Day ACH

According to the Electronic Payments Association, almost $5 billion in US electronic payments were brought in on the same day in October 2016. This happened after the adoption of new rules by financial institutions to accelerate the transfers. The trade group stated nearly 3.8 million same-day transfers (the average amount made up $1.303) were registered in October 2016. According to...

Oct 20, 2015

Get Your Business Ready for Same Day ACH Electronic Payments

A new rule by the Electronic Payments Association (NACHA) will enable same-day ACH payments. NACHA moves money between banking institutions with a guarantee of 48-hour transactions. Generally all financial institutions are required to participate because if the sender participates, the receiving bank must follow suite. When same-day ACH payment is adopted it could change everything, and your business should be...

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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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