Feb 06, 2017

Missing More Card Payments | Increased Card Usage

Credit bureau TransUnion, an American company that provides credit information and information management services has recently reported missed payments on credit cards issued by lenders are higher than on older cards. Credit Card Processing Almost 3% of outstanding balances on credit cards given out in 2015 were at least 90 days behind on payments 6 months after they were originated....

Dec 22, 2016

Though Chip Cards Are Still Slow, They Protect You From Fraud

One year has passed since EMV technology arrived in the US credit card market. Chip cards are designed to make transactions safer and they really do this. According to a NerdWallet survey, the majority of consumers approve the EMV liability shift in the US. Happy Birthday EMV MasterCard reports 88% of its credit cards are chip-ready, but 67% of all...

Nov 02, 2015

Chip Cards Protect Merchants and Their Customers from Identity Theft

If you own a business, your credit score can be the thing that keeps you from attaining a line of credit, a loan, or payment processing. Even if owners don’t fund the business with their own personal credit cards, their personal scores can affect the outcome of loan applications. Many entrepreneurs are good at what they do, but may have...

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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 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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