Jul 29, 2016

Faster Payment Challenges Around The World | Best Merchant Account Services

In countries that have lots of fewer players than the United States, accessibility and omnipresence are challenges indeed. Access by more players can make things easier and eliminate barriers. Moreover, it can also increase the work of those who deal with the application process and connections of the scheme. Payments System Around the World The Electronic Payments Association, NACHA, has...

Jun 16, 2014

What You Need to Know About High Risk Merchant Accounts

It can seem like a tough road ahead if your business has been turned down for a merchant account because it is considered “high risk”. In ways, it is, however it is possible to find a high risk merchant account provider. Be warned that not all are the same, and it may take a little research on your part to...

Jun 13, 2014

Where to Find a Merchant Account for Your Credit Repair Business

Credit repair businesses are hot right now, thanks in part to the lax economy. However, while they are big moneymakers, it can be tough to find a merchant account processor that specializes in these companies. While it may be hard, it is not impossible. In today’s market, bad credit is common, so there are many credit repair companies that have...

May 27, 2014

Visa Granting Lower Fees And Less Rules for High Risk Merchants

Visa Inc. is shaking things up. During the company’s second quarter earnings call the CEO Charlie Scharf told analysts about the company’s upcoming changes. To begin, Visa is lowering or eliminating several of its merchant acquirer fees for those whom generate less than $15,000 in gross annual Visa sales. Also, the company will eliminate at least half of its operating...

May 27, 2014

Mobile Payment Processing Poised To Takeover

As people increasingly use their mobile phone it is inevitable that mobile transactions will grow. A report from BI Intelligence has found that there is rapid growth in mobile transaction volume. This is changing the mobile payment processing industry, especially in regard to credit and debit card payments. Consumers and merchants alike are using mobile payment processing methods from scannable...

May 27, 2014

The U.S. Sees the Return of Online Gaming

The passage of the federal Unlawful Internet Gambling Enforcement Act in 2006 banned processors and banks from any handling of online-gaming transactions. The major turning point for online gaming came with the interpretation of the 1961 Wire Act in December 2011. The U.S. Department of Justice released a memo with the interpretation of the act being that it applied only...

May 27, 2014

Unnecessary Credit Card Declines Leave Consumers Unsatisfied

Businesses are turning to online retailing as an opportunity to reach more customers, to provide swift service, and to offer new products/services more quickly. There are many business challenges for those who wish to create a satisfactory customer experience. One of which is the need to prevent online fraud. More and more, people are using a variety of different Internet-connected...

May 27, 2014

Discussion Concerning Cap on Credit Card Interchange Continues

According to a poll by Digital Transactions News, few would be surprised if legislation appeared that placed a cap on credit card interchange within five years. According to Digital Transactions, “In the poll, 58% of respondents said such legislation is very likely, along with 8% who said it was somewhat likely. Only 13% gave it an even chance. Of respondents,...

May 09, 2014

Point of Sale Acceptance

Not so many years ago there was nothing but cash to be exchanged for merchandise bought. As technology advances so does the convenience and our dependence on that technology. One of the conveniences of technology has been the ability for businesses to offer point of sale (POS) purchases. Point of sale is a system that has become more popular with...

May 09, 2014

Looking at the Costs Involved for High Risk Credit Card Processing

The devil’s in the details and for high risk credit card processing the details are critical. There are multiple factors to consider when you’re setting up credit card processing. Here’s an overview of the major variables that can impact the costs of high risk credit card processing. Choosing a Merchant Services Provider This is the first step and it can...

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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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