Nov 26, 2014

EMV Chip Card Technology Gets Backing From President Obama

On any given day, President Obama can catch a lot of dissension from every direction. However, his recent views and backing of EMV technology have people praising him. While EMV technology is coming, his support can perhaps help those who are not sure about the technology embrace it. EMV technology is better known as “chip and PIN” technology, and it...

Aug 08, 2014

Chip-and-PIN Creates Tech Dilemma

As the October 2015 deadline for the transformation of U.S. credit and debit cards from the current magnetic strip cards to smart cards embedded with an EMV (Europay, MasterCard, and Visa) chip approaches many issuers will likely choose the chip-and-signature option for credit cards instead of chip-and-pin which is safer more common in other countries. Issuers have stated that the...

Jun 09, 2014

The EMV chip may take more than 4 years as previously planned

 Just what exactly is EMV you ask? Years ago we wouldn’t even need to ask that question, but with the amount of fraud, corruption and hackers around the world,  EMV is needed to bring safety to our credit world. You see, EMV stands for Europay, Mastercard and Visa. It’s the global equivalent for protection. These companies have come together to...

May 27, 2014

Retailers and Card Issuers Running Out of Time on EMV Chip Card Implementation

Recent security breaches of major retailers like Target and Neiman Marcus, has pushed the conversation over EMV chip card implementation into action. Still experts predict that EMV-chip technology will not become commonplace in the United States until the year 2018. Nick Holland, senior analyst for payments with Javelin Strategy & Research, says that despite a full EMV chip card implementation...

Mar 28, 2014

POS Makers Prep for 2015 Card Changes

With as many as 5 million mobile point-of-sale readers in circulation in the United States, mobile POS companies will have their hands full following the liability shift set for October 2015 when the nation’s payment card networks step up the migration to the MasterCard-Visa chip and pin system. While this change is fantastic for security reasons, there are sure to...

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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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