Aug 17, 2017

Foreign Retail Sites Account for About Half of Online Purchases in Canada

The retail industry in Canada is undergoing a transformation. In many cases, e-commerce has been added to the traditional retail experience, thus giving birth to new digitally-enabled shopping experiences. Electronic Commerce in Canada Electronic commerce is becoming more and more popular among Canadians, and they plan to go on spending money online. According to Forester research, Canadians are expected to...

Mar 28, 2016

Canadian Retailers Hope for Interchange Rate Caps | Canadian Merchant Account

Retailers are rejoicing this year as Canadian lawmakers are considering a new bill that puts a ceiling on credit card interchange rates. The bill was brought to Canada’s House of Commons by newly elected Liberal MP for Rivière-des-Milles-Îles, Linda Lapointe. The proposed bill would make changes to the Payment Cards Network Act, but does not specify the interchange cap rate....

Oct 13, 2015

Canadian Retailers Feel the Pinch of Loonie Decline

Canadian retailers are expected to raise their prices in the coming months due to the weakening of the Canadian dollar and growing cost of imported goods. The loonie’s value has slid 16 percent over the last year against the U.S. dollar. This has made purchasing across borders more expensive for Canadian companies and is pushing Canadian retailers to hike their...

Sep 30, 2015

Focus on Customer Service is Driving Sales for Canadian Retailers

Right now retailers are feeling better than ever. According to the third annual Canadian Retail Insights Report released today by American Express, around 82 percent of businesses surveyed believe that a focus on customer service is the reason for profit increases. And 97 percent said they will use customer service to differentiate themselves from the competition. Jennifer Hawkins, General Manager...

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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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