Oct 22, 2019

Merchants Allured by Growing Cannabis Market

Cannabis doesn’t have the bad rap that it used to back in your parents’ or grandparents’ day. Part of that trend is thanks to a growing field of scientific research, public awareness and the passage of the U.S. Farm Bill in 2018. This bill provided for a new federal hemp regulatory system that aims to facilitate the commercial cultivation, processing,...

Oct 10, 2019

CBD Market Boom Could Grow Even More With FDA Regulations

There’s no doubt about it; the popularity of CBD is exploding and mainstream products are popping up all over the market. In fact, estimates place the growth to exceed $5 billion in 2019, which is a 700% increase from 2018.  Medicines to treat medical disorders, such as Epidiolex, are making huge waves in the market, and everyday products ranging from...

Oct 01, 2019

CBD Market Boom Could Grow Even More With FDA Regulations

There’s no doubt about it; the popularity of CBD is exploding and mainstream products are popping up all over the market. In fact, estimates place the growth to exceed $5 billion in 2019, which is a 700% increase from 2018.  Medicines to treat medical disorders, such as Epidiolex, are making huge waves in the market, and everyday products ranging from...

Jun 20, 2019

CBD Interest Driving Spike in Transaction Laundering

As interest in CBD products have risen, online merchants experience spike in transaction laundering incidents, threatening payment service providers. In general, transaction laundering often is used to process credit card transactions for illegal medications and intellectual property infringement. With the decriminalization of CBD and other hemp products, transaction laundering has been targeting this sector, making the promising CBD industry riskier...

Jun 18, 2019

CBD Advocates Continue to Wait on Guidance from FDA

More than 100 individuals and associations interested in nailing down a regulatory framework for the use and regulation of CBD addressed the Food and Drug Administration (FDA) during a public hearing last month. The FDA will continue to collect statements until July 2, which means parties interested in CBD should expect a significant wait until they get clarity on the...

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...

Feb 13, 2019

Legal Hemp Spells Victory for Lawmakers and CBD Oil Sellers

The adoption of a law, commonly known as the farm bill, in December 2018 legalized domestic industrial hemp, gave a much need boost to those in the struggling agriculture industry, and gave a generous hoist to Senate Majority Leader Mitch McConnell’s 2020 re-election campaign. Prior to the new law, McConnell, who proudly touts himself as a politician not a public...

Jan 11, 2019

FDA Will Work to Permit the Legal Marketing of CBD and Hemp Products

The federal agency authorized to ensure the safety and efficacy of the nation’s drugs, medical devices, and food supply plans to take steps to give some hemp products a thumbs up following the recent adoption of the 2018 farm bill. The new law, which was signed in December 2018, designated hemp as an agricultural crop, essentially legalizing CBD oil and...

Jan 03, 2019

New Farm Bill Legalizes Hemp and CBD Oil

Legalized Hemp and CBD Oil Triggers Surge in Processing The newly-adopted law, most commonly referred to as the 2018 Farm Bill, legalizes hemp, which will likely encourage more businesses that sell CBD oil and other hemp products to seek payment processing and merchant account services. Understanding the Farm Bill Until the adoption of this law in December 2018, federal law...

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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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