Sep 26, 2017

CFPB Shutting Down Prime Marketing Holdings for Lying to Consumers

No one can deny the importance of a good credit score. Low credit scores are associated with higher interest rates, credit obtaining challenges, higher insurance rates, larger deposits for apartments and utilities, and other difficulties related to anything that involves payments. That’s the reason why people turn to credit repair companies so often to have their credit “fixed”, or have...

Feb 06, 2017

A Lawsuit Against N.Y. Debt Collectors

The Consumer Financial Protection Bureau (CFPB), an agency of the United States government responsible for consumer protection in the financial sector, and the New York attorney general filed a lawsuit in November 2016 against 2 New York debt collectors. The debt collectors were accused of deceiving and harassing millions of consumers to pay inflated debts. The companies inflated consumer debts...

Dec 29, 2014

CFPB Delays & What They Mean for Payday Merchants

The CFPB, or Consumer Financial Protection Bureau, has delayed three major announcements and implementations for 2015. While some are happy that these new regulations will not happen as expected, the vast majority of merchants and customers are not. While its delays could harm merchants, there are things that you can do to protect your payday loan business, regardless of their...

Aug 12, 2014

The CFPB Begins Taking Complaints on Debt Settlement and Credit Repair

  How the CFPB Works The Consumer Financial Protection Bureau (CFPB) began operations in July 2011, and takes complaints about a wide range of financial services including credit cards, mortgages, bank accounts and services, private student loans, auto and other consumer loans, credit reporting, debt collection, payday loans, and money transfers. On July 21, 2014, the CFPB announced that it...

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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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