Feb 17, 2017

How Electronic Check Payment Processing Works

If you have been running a business for a while, the chances are high that a customer has requested to make payment using an eCheck. However confusing merchants find this method, they often choose to let their payment processors handle the technicalities. And when disputes later arise, the trader is left with little to do, other than concede to the...

Apr 20, 2016

The Benefits Of Electronic Check Payment Processing

Modern technology enables people to enjoy fast and easy payment transactions all around the globe. Huge advances in the world of payment technology have turned paper checks into electronic transfers (debit), which are also known as electronic checks or eChecks. Electronic check processing is an essential part of any modern business. Modern eCheck Payment Processing. How Does It Work? eCheck...

Sep 11, 2015

5 Things you need to know about electronic checks or eChecks

1.      What is an eCheck? An electronic check (also known as an eCheck or a Back Office Conversion (BOC)) is an electronic version of a paper check. As technology changes the way things are done, people saw the need to convert traditional checks into electronic payments that can be processed through Automated Clearing Houses (ACHs), easily and efficiently. Since electronic...

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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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