Oct 01, 2019

4 Ways to Reduce Chargeback Fraud

Chargebacks refer to when a customer disputes a transaction with a merchant, allowing them to receive their money back while keeping the product or services that they received. Oftentimes, the merchant isn’t even aware that a transaction is being disputed until after the funds are taken from their account. At this point, they have only two weeks in which to...

Apr 07, 2017

What You Should Know About Chargebacks and Preventing Them

Accepting credit cards as payment in your business transactions can help you enjoy increased revenue and customer base, as well as improved productivity. A merchant account that you can open for accepting cards for payments will enable you to run your business with convenience, cost-effectiveness, and professionalism. Chargebacks are one of the important aspects concerning merchant accounts that you should...

Apr 19, 2016

Prevent CNP Chargebacks

An increasing amount of consumers prefer to shop online. While this option is extremely convenient for consumers and merchants, it is also advantageous to fraudsters. As merchants move online, there has been a drastic increase in card-not-present fraud. Chargebacks can result from card-not-present fraud and slowly drain merchant profits. Chargebacks happen when a customer makes a legitimate purchase, but then...

Apr 15, 2016

Chargeback Protection = Full Merchant Account Protection

Chargebacks are life sucking charges that can deplete your business’ resources. Chargebacks occur when customers contact banks to dispute a charge to their accounts. This process is a necessary consumer tool to protect them from false charges or identity theft, however a large amount of chargebacks are the result of “friendly fraud.” This type of fraud happens when a customer...

Feb 20, 2016

TIPS FOR MERCHANTS TO IDENTIFY AND FIGHT CHARGEBACK FRAUD

Merchants may have difficulty identifying and preventing credit card chargeback fraud. Steps below will help merchants detect chargeback fraud and prevent it. Know Your Risks Better Online merchants can’t see the credit card being used and check the identification or signature of their customers. Understanding your risks and knowing the degree of your vulnerability will help you track fraud. Use...

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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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