Aug 22, 2020

High Risk Merchant Accounts & Credit Card Processing

If your business is associated with a degree of risk, you need to obtain a high risk merchant account. This means you need to apply for a certain type of business bank account from a reputable high risk merchant processor. Let’s dig deeper into the topic and see who can help you with secure and low cost merchant processing services....

Aug 21, 2020

4 Ways to Integrate eCommerce into Your Small Business in 2020

The more technology has become commonplace, the more important ecommerce has become for businesses. In order to ensure long-term growth and sustainability, businesses today really need to consider incorporating ecommerce. Due to the rapid changes and challenges COVID-19 has thrust upon business owners, ecommerce options have even become critical for business survival. If your business needs an ecommerce solution to...

Aug 21, 2020

A Deeper Look at the Future for Digital and Mobile Wallets

North America has been known for their preference for plastic for some time, with credit cards being the top consumer payment method. Recently, however, the spotlight has begun to shift to mobile-payment methods. Thanks to the COVID-19 pandemic, these trends are beginning to pick up even more speed. As consumers become more open to new methods of payment, more and...

Aug 21, 2020

Already Growing E-Commerce Payment Trends Pick Up Speed with COVID

E-commerce and other payment trends have been gaining speed for some time. However, these trends are now being fueled by the COVID-19 pandemic and the flames are spreading fast. New debit card transaction data released early this month by Houston-based Pulse electronic funds transfer network confirms this. It is safe to say we are living in unprecedented times. As stay-at-home...

Aug 17, 2020

High Risk Payment Processing for Top High-Risk Merchant Industries

For businesses considered to be high-risk, the road ahead can be a real struggle. When a businesses receives this label, it makes it incredibly difficult to secure the merchant services and business funding needed to operate smoothly and grow. There are many reasons why a business might fall under the high-risk category. The following list includes the most common reasons:...

Aug 14, 2020

What Is A High Risk Industry?

What do the following industries have in common: e-cigarettes, sports betting, online firearms, and cannabis? All these industries fall under the high risk category. These industries typically need to ensure that they are in compliance with local, state, and federal laws. Compliance can usually translate into extra costs for all types of “compliance-related resources”.  What Does It Mean To Be...

Aug 12, 2020

Impact of COVID-19 on The Credit Card Market

Payment Systems for Credit Unions or (PSCU), in an effort to determine the COVID-19 pandemic’s impact on both shopping trends and consumer spending, issued data that reflected the decline of U.S. card growth rates for the week ending in June 28, 2020. All debit card purchases went back to a “negative growth”. As per a statement from Glynn Frechette, SVP...

Aug 12, 2020

Top 10 High-Risk Merchant Account Industries

Some of the typical reasons why underwriters could flag your business as high risk could be the following: your business belongs to a highly regulated industry, processing CNP or card-not-present transactions, high incidences of fraud and chargebacks, and reputational risk according to banks, just to name a few.  Top 10 High Risk Merchant Account Industries Below is a list of...

Aug 07, 2020

WhatsApp Launches Digital Payments In Brazil

After a “closed” beta launch in India back in 2018, WhatsApp announced the launch of digital payments in Brazil. According to WhatsApp’s blog, users will be able to safely send money or purchase something from a local business without having to leave the chat feature.  Brazil is the second-largest market after India, with over 120 million “individual users”.  With more...

Aug 06, 2020

Contactless Payments Ensure Safety And Convenience

The future of payments is facing monumental changes due to the COVID-19 outbreak. Where in the past, businesses were more cautious about implementing contactless features to receive payment from customers, now many are realizing that not adopting contactless could mean the end of their existence.  Days of simply swiping credit cards could become a thing of the past as new...

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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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