Sep 19, 2017

What Does It Take To Open a Credit Repair Merchant Account?

If only the answer to this question was as easy as applying for a merchant account with a preferred provider then it would be useless to read this further. However, very few credit repair business owners who apply for merchant accounts with their local banks or pretty much any other payment processor qualify. The next alternative would be to go...

Jul 28, 2017

Big Changes to Credit Reports

In March, it was announced that Equifax, Experian and TransUnion, the 3 major credit reporting agencies, would start holding public data to new standards (after July 1). Now, public record data must include consumers’ name and address, as well as their Social Security number or date of birth, to appear on their credit file, according to the Consumer Data Industry...

Jun 16, 2017

What You Should Know About Credit Repair Merchant Accounts

In today’s market, bad credit is a common thing. That’s why you can find many credit repair companies on the marketplace. The credit repair industry mainly includes small businesses. No single company accounts for over 5.0% of credit repair industry revenue. Domestic (US) total annual revenue for the credit repair industry made up $6.0 billion in 2015. Categorization of the...

Mar 18, 2015

What You Can Do To Legitimize Your Credit Repair Business

Tax season is also the season when many check their credit scores. While there are many legitimate websites and services, some are not, and those can damage the entire industry. Credit repair agencies are who people turn to when they need to get their spending in check, pay down debt, and otherwise strengthen their credit score. You do not have...

Nov 25, 2014

How Your Credit Repair Business Will Benefit From a Credit Repair Merchant Account

Helping others when they have found themselves with credit difficulties is a rewarding business opportunity. Not only does it allow a way to help others, it can help to pay your bills and overheads too, because you charge a fee for your services. The important areas to consider are how your customers will pay you for your services helping to...

Apr 04, 2014

How to find a Merchant Account for a Credit Repair Business

Having a credit repair business can be financially rewarding. However, finding a merchant account processor that deals with credit repair businesses is difficult. Finding one that has reasonable fees is even more difficult, but with thorough research, it can be done. Credit repair businesses are considered high-risk businesses, and many merchant account processors turn up their nose at businesses considered...

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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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