Jan 13, 2015

When Collection Agencies are Your Friends

Owning a business can be the most exciting and satisfying thing in your life. Nothing is better than making sales, reaching goals, and moving product. But sometimes customers are unable to or flat out refuse to pay for products or services after they’ve used them. Despite your best efforts, your business may simply not be able to get certain customers...

Nov 20, 2014

Educate Your Collection Agency Clients on the Best Timing for Collections

There are so many reasons why collection agencies are needed and there is so much potential for your collection agency. You provide a much needed service to all businesses, yet your collection agency merchant account remains at a high risk status. This does not matter whether you are dealing with individual consumers or business-to-business industries. The reason you opened your...

Jul 17, 2014

eMerchantBrokers Collection Agency Merchant Account Services

Collection agencies are big business, and it can seem like a good idea to use this opportunity to better your life. While it is a lucrative business, you also need to be aware that it can be tricky to get a merchant account from a bank or traditional merchant account provider. Fear not, though, as EMB is here to help...

Jun 23, 2014

Legislation Introduced in Senate to Exempt Debt Collection Attorneys

The Fair Debt Collection Practice Technical Clarification Act was introduced to the House of Representatives in July 2013. According to an article by The Hill from August 20, 2013, “This bipartisan legislation simply excludes attorneys from the FDCPA when they are engaged in litigation activities that fall under supervision of the court.” However, this piece of legislation is not an...

May 19, 2014

Congress Reinforces Support for Credit and Collections Industry

At the ACA Legislative Conference Capitol Hill reception on May 6, 2014, members of Congress expressed their support for the credit and collections industry. The first annual conference brought together members of the credit and collections industry to discuss policy issues, and introduce industry members from across the nation to legislators. Among the keynote speakers at the conference were: Rep....

May 19, 2014

Are Consumer Complaints about Debt Collection on the Decline?

ACA International (the Association of Credit and Collections Professionals) has been investigating complaints to the CFPB Consumer Financial Protections Bureau concerning debt collection methods and claims of harassment by consumers. ACA International is working with collection companies and consumers to find a balance between consumer protections and the ability to receive debt owed. A recent analysis of consumer complaints reveals...

Apr 02, 2014

Applying for Collection Agency Merchant Accounts

Collection agencies are a lucrative business endeavor for any entrepreneur. As an agent of a creditor you can buy the debt of businesses and pursue the payment of those debts as an independent agent. Banks consider Collection agencies as high risk businesses.  Thus, there is some important information you should be aware for opening a collection agency merchant account. Merchant...

Feb 19, 2014

Tips and Tools for Collecting Debt

If your business has outstanding unpaid payments from customers, as a collection agency or otherwise, trying to get those clients to make good can be uncomfortable and awkward at best. At worst, it can threaten your business as you also have bills to pay. So what are the methods to use to ramp up the urgency for your customers to...

Feb 06, 2014

Collection Agency Marketing

Marketing is the key to any successful business. Word of mouth is nice, but pretty ads in magazines and newspapers help bring in customers, as well. However, how do you market something that business love, but customers hate? Collection agency marketing is easier than you think, and the majority of help could potentially come from your collection agency merchant account...

Dec 05, 2013

Collection Agency Challenges: Opening a Merchant Account

One of the pivotal aspects of running a small business or enterprise, such as a collection agency, is finding a way to accept credit or debit card payments. In a credit and debt based economic system, the necessity of opening a merchant account to accept these forms of payment can break a new business. If you are an entrepreneur, this...

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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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