Jul 20, 2015

Will there be Another Major Data Breach Soon? Definitely!

Consumer-targeted data breaches have been the norm in recent days. It all started with small breaches in several major companies including; Choicepoint, LinkedIn, TJ Max, Twitter, and the Adobe Systems. Today, we see millions of records being lost in single breaches (Target, Kickstarter, the Sands Casino, White Lodging, and Neiman Marcus come to mind). In each of these cyber attacks,...

Apr 23, 2015

Data Breaches Strike Hotel Industry

The latest business hit hard by a major security breach hails from the hotels industry: Mandarin Oriental. The hotel chain suffers from an issue common to hotels and data security. From the time when a card is swiped and the payment processing is under-way, the customer’s information becomes vulnerable due to outdated payment hardware and payment gateways. Now, more than...

Apr 22, 2015

Data Breaches Can Hurt a Small Business Without Chargeback Protection

It appears that every month there is a report on the news that another mega-company has been hacked and millions of customers’ information has been stolen. Target alone has to pay $10 million in settlement including legal fees for their breach. The attorneys reaped most of the rewards with the average affected customer only seeing $.25 if he filed a...

Jan 30, 2015

2014: The Year of the Data Breach

Data breaches have continually been in the news over the last year. From Target to Neiman Marcus, consumers have been flooded with reports of their sensitive information being compromised. When Target’s POS system was hacked, it instigated consumer rage and a series of Congressional hearings investigating weaknesses in data security. Now in the wake of the most recent Home Depot...

Oct 10, 2014

Increased Security Can Help with Chargebacks on High Risk Merchant Accounts

It appears that we cannot go a full week without hearing about hackers stealing credit card numbers, pin numbers and personal data of those who have used their credit and debit cards at large retailers. Now it seems that the fraudsters have hit a huge fast food chain, Dairy Queen, which has 395 stores in the U.S. This can be...

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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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