Aug 12, 2020

Impact of COVID-19 on The Credit Card Market

Payment Systems for Credit Unions or (PSCU), in an effort to determine the COVID-19 pandemic’s impact on both shopping trends and consumer spending, issued data that reflected the decline of U.S. card growth rates for the week ending in June 28, 2020. All debit card purchases went back to a “negative growth”. As per a statement from Glynn Frechette, SVP...

Aug 12, 2020

Top 10 High-Risk Merchant Account Industries

Some of the typical reasons why underwriters could flag your business as high risk could be the following: your business belongs to a highly regulated industry, processing CNP or card-not-present transactions, high incidences of fraud and chargebacks, and reputational risk according to banks, just to name a few.  Top 10 High Risk Merchant Account Industries Below is a list of...

Aug 05, 2020

Choosing A Good Credit Card Processing ISO

Cash is slowly being phased out as a preferred tender while our world is becoming increasingly more digital. According to one of the largest payment processing companies, TSYS, it found that 80% of customers preferred to use credit and debit cards compared to the merely 14% that would rather use cash.  Over the years, merchants have realized the importance of...

Jul 22, 2020

How to Start Accepting Online Payments Securely

Providing a safe way for customers to make their purchases online is an essential part of e-Commerce. Neglecting this aspect can result in a host of problems including lawsuits, fines, and even worse, a tarnished reputation. This can certainly cripple a business, lose customers, and eventually close the business for good.  The Numbers Don’t Lie According to Digital Commerce 360...

Jul 22, 2020

Are You Considered A High-Risk Merchant?

Accepting credit card and debit card payments is the established way that businesses get paid in our modern economy. Cash only establishments have mostly disappeared into the ether and many have been forced to take credit and debit card payments due to fewer customers carrying wads of cash in their pockets.  If you are a business that happens to fall...

Jul 16, 2020

Nine Ways Gas And Convenience Owners Can Slash Fraud Risk

As the April 2021 deadline for the EMV Compliance liability shift is forthcoming, both gas and convenience owners need to get onboard to upgrade their “forecourt” as well as all other payment systems.  Brian DuCharme, Vice President of Product Management at TNS made this announcement: “While some fuel retailers have been hesitant to upgrade, the reality is that the time...

Jun 16, 2020

Coronavirus And Its Significant Impact On The Payments Industry

The payment industry was negatively hit by the pandemic; only time will reveal the lasting impact.  On a human and economic scale, the COVID-19 virus has wreaked havoc. One of the many ways that the global pandemic has affected consumers is how they shop. With government regulations strongly urging social distancing and essential shopping, consumers are still leery of going...

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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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