Jun 11, 2015

The Advantages of an Alcohol Sales Merchant Account for Startups

The boom in alcohol sales over the past couple of years has revealed that Americans are spending more time at home while doing their drinking. This positive sign for the industry has been contributed to a rise in consumer confidence. The online sales of prepackaged beer, wine and liquor have also increased over the past five years due to the...

Apr 22, 2015

Only 17 Months Until EMV Technology Hits

17 months seems like a long time. However, we all know that time can fly by quickly, so you need to make sure you are prepared. While you, the merchant, can be prepared, and your customers can be prepared, if your alcohol sales merchant account provider prepared? I hope that everyone will be prepared next fall when the EMV changes...

Mar 18, 2015

Four Things You Need To Know About Selling Spirits Online

Selling alcohol, liquor, and spirits online is the latest iteration of an aged industry. But, the retail sale of alcohol in the United States is a highly regulated and watched over practice. The Alcohol and Tobacco Tax and Trade Bureau (TTB) under the US Department of Treasury is responsible for the oversight of any merchant selling spirits, online or offline....

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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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