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...

Mar 01, 2014

Overwhelmed Courts Utilize “Rocket Dockers” for Debt Collection Lawsuits

Courthouses across the country are struggling to keep up with the flood of debt collection lawsuits filed by debt collectors and banks alike against their debtors. If you’re a merchant with a debt collection merchant account from EMB [HYPERLINK TO DEBT COLLECTION INFO PAGE] then you may find yourself knee-deep in a quagmire at the local courthouse. Yet, despite the...

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...

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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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