Oct 20, 2020

Avoid Chargebacks and Protect Your Small Business

In 1974, the Fair Credit Billing Act (FCBA) was passed as an amendment to the Truth In Lending Act. It’s objective was to protect consumers from billing practices that were unfair and to provide a means to address billing errors in credit card accounts. Although this act awarded millions of consumers a way to protect themselves from unauthorized, fraudulent, and...

Aug 28, 2020

How to Choose a Fantasy Sports Merchant Account

Trying to find the right merchant account for your business can be an overwhelming task. Few payment processors offer merchant accounts for this industry, so how do you know you are getting the best and safest option? With fantasy football season upon us, now is the perfect time to do a little payment processor shopping. Here are a few tips...

Aug 27, 2020

Refund Rates Can Wreck Your Payment Processing

Payment Processing can become risky with an increase in refund rates. One of the many obstacles that high risk merchants have come to acknowledge is chargebacks. Chargebacks can lead to the termination of their merchant account. However, this is not the only menace that can threaten a high risk merchant’s position with acquirers. Another threat that can jeopardize their status...

Aug 21, 2020

8 Deadly Mistakes People Make When Building an E-Commerce Site

Risk assessment should be part of your everyday life if you want to be a successful business owner. And the process should be well thought out when setting up an e-commerce store. You want to identify all potential dangers and loopholes early to prepare adequately. Still, risk assessment is a never-ending process. Why? Because the e-commerce business environment is ever-evolving....

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 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 06, 2020

Nearing The Dreaded 1% Mark On Your Chargebacks?

Chargebacks can be the proverbial thorn in the side of every business. Originally created in order to protect consumers, unfortunately, it has become an easy way for some to commit fraud. Inevitably, this has deeply hurt businesses as they spend an inordinate amount of time, money, and energy fighting this never-ending battle.  When merchants have many chargebacks (exceeding a rate...

Aug 06, 2020

Payment Providers Must Deter Transaction Laundering

Transaction laundering is increasingly becoming a threat within the payments industry. According to EverCompliant, a solutions provider, in 2016 $155 billion was created from  online sales through transaction laundering in the U.S. alone. It was also found that banks were processing close to six to ten percent of “unauthorized” e-commerce sites. Out of that, three percent were discovered to be...

Jul 24, 2020

Online Financial Firms In Demand Among High-Risk Businesses

High risk businesses have plenty of challenges when opening up their business. There are regulations to adhere to, they need to protect themselves from chargebacks and fraud, and they need to find a reliable merchant account provider, when most traditional banks and processors will not give them the time of day. The good thing about our modern times is that...

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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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