Feb 19, 2016

UK Approves First E-Cig Trial | E-cig Merchant Accounts Rejoice

Earlier this year, UK’s Medicines and Healthcare products Regulatory Agency (MHRA) approved its first electronic cigarette clinical trial. Reuters reports that the British American Tobacco (BAT) received the proper medical licenses to commence clinical trials this year. This means that its e-Voke vapouriser is eligible to be prescribed as a smoking cessation treatment. This will be the first e-cig officially...

Jul 07, 2014

Philip Morris Acquires British E-cig Giant Nicocigs

Last Thursday, Philip Morris International announced its acquisition of Nicocigs Ltd, Britain’s largest e-cigarette producer. This is the latest move that the U.S. cigarette maker has made to establish itself in the fast growing e-cig industry. Recent reports show that e-cig sales are on track to quickly outpace the sales of traditional tobacco. Over the past few decades, overwhelming scientific...

Dec 06, 2013

Los Angeles City Council Regulates E-Cigarettes and Vaporizer Sales

The Los Angeles City Council voted unanimously to regulate the sale of e-cigarettes and vaping devices. The legislation places e-cigarettes and other vapor-based devices on the same level as traditional tobacco products regarding their sales. The regulation bans sales from street kiosks, ice cream trucks, and self-service displays and retailers are required to acquire a license to sell the products....

Oct 24, 2013

Do You Need Payment Processing For Your E-Cig Store?

With the sales of cigarettes changing all across the country, it is no surprise of a change in the e-cigarette industry. Finding a merchant servicer that wants to do an electronic cigarette merchant account may not be the easiest task of the day. This account will likely fall into the high risk merchant account area; but don’t panic. A lot...

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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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