Jun 20, 2019

Payment Facilitators: Beware of the Latest Scams and Fraud

Since fraudsters continue to evolve and become more sophisticated, payment facilitators need to pay attention so they can protect themselves. Get to know the latest high-risk trends that payment facilitators face. The Biggest Treats More than 1.4 million complaints of fraud totaling $5.5 billion-plus in losses have been reported to the Federal Bureau of Investigation, according to the 2017 Internet...

Jun 17, 2019

America Feels the Burn of Anonymous Companies Financing Fake Commerce

Trafficking and smuggling counterfeit and pirated goods is a lucrative business hurting America, its companies, and citizens, according to a May 2019 report from the Financial Accountability and Corporate Transparency Coalition (FACT Coalition). The illegal activity continues to remain profitable and thrive because those running the criminal enterprises operate in secret with anonymous entities that help them launder their fake...

Jun 17, 2019

Allied Wallet Settles Fraud-Related Charges With FTC

Payment processing firm, Allied Wallet, its owner, and two other officers recently settled charges that they participated in many schemes in which they knowingly processed fake transactions to customers’ accounts. Allied Wallet, its owner and CEO, Ahmad Khawaja, its chief operating officer, Mohammad Diab, and its former vice president of operations, Amy Rountree, agreed to settle the Federal Trade Commission’s...

Jun 17, 2019

Marijuana Sale Apps Must Take Order Process Off Google to Comply with New Policy

In another move to protect itself from potential liability and financial punishments, Alphabet’s Google recently changed its content policy on its app store, banning apps on that facilitate the sale of marijuana or related products. The move was necessary because the laws concerning marijuana use and sale vary considerably among states and on the federal level. This approach allows app...

Jun 14, 2019

Deceptive “Free Trial” Marketers Must Pay $9 Million-Plus for Consumer Refunds

The operators of a worldwide negative option scam admitted to deceptively promoting “risk-free” trials and then, charging the consumers full price for the items and enrolling them in long-term, automatically-renewed product plans without their consent. A court order resolving the Federal Trade Commission’s complaint requires the defendants to no longer engage in this type of scam and pay more than...

Jun 12, 2019

Six Ways to Secure Ecommerce Data Accuracy

In the digital age, data is an essential aspect of any enterprise. It’s a crucial factor in determining the success of any business. By using the most advanced analytics tools, organizations use data analysis to come up with their business strategies. With all this in mind, e-commerce businesses have to take great care when processing data entry, as online retail...

May 24, 2019

Blockchain Technology May Cut Down Cases of True Fraud

Though some believe blockchain technology can rescue businesses from chargebacks and ecommerce fraud, it may not completely solve the problem. True and friendly fraud hurt all businesses, especially mobile and online merchants. Unauthorized use of credit cards triggers cardholders to implement chargebacks, resulting expensive refunds and other penalties for businesses. As blockchain technology evolves, merchants can expect it to reduce...

May 14, 2019

Hearing About CBD Regulations as More Retailers Enter the Market

After major retailers, like Rite Aid, CVS, and Walgreens, announced their plans to test the market’s interest in CBD products, the former U.S. Food and Drug Administration (FDA) commissioner said the pharmacies could expect to run into regulatory problems. For example, Rite Aid started to sell creams, lotions, and lip balms that contain cannabidiol, which is a non-psychoactive ingredient in...

May 09, 2019

Widespread U.S. Contactless Payments Adoption May Be Near

The groundwork has been laid for widespread U.S. contactless payments adoption, but what will be the impetus for actually taking shape is a mystery, according to the Federal Reserve Bank of Boston report, “Tap to Pay: Will Contactless Cards Pave the Way for NFC Mobile Payments in the U.S.?” Background on the Contactless Card and Mobile Payments Movement In 2015,...

May 06, 2019

Fintech’s Making Their Own Moves on Cross-Border Trade as Fate of Brexit Looms

With Brexit no closer to a resolution, financial technology businesses are taking matters into their own hands to prepare for its impact on cross-border trade. With all the uncertainties surrounding the U.S. and Britain, Veem and Tipalti are the most recent fintechs to look for new ways to entice people to trade with China. Recently, Veem, which is a mobile...

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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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