Apr 15, 2014

Debit Networks End EMV Stalemate with Issuers, Adopt MasterCard/Visa Common AID Solutions

Major U.S. debit networks have been discussing a solution to the Durbin Amendment/EMV issue, to avoid using the proprietary solutions by card brands like MasterCard and Visa. Technological limitations on the applications that reside on the chips of an EMV card, which enables it to be run as debit or credit, limit the path a transaction can take once an...

Apr 14, 2014

The Conversion to EMV Offers Hope in Reducing Percentage in Fraud

Fraud has always been an issue. However, the spike in card fraud in 2013 has increased concerns and caused interest and a shift towards EMV. EMV stands for Europay-MasterCard-Visa. Explained by Nigel Beatty, Regional Vice President and Senior Consultant of Technology Banker, “EMV is a set of standards defined by Europay, MasterCard and Visa; back in the 1980s, hence the...

Mar 28, 2014

POS Makers Prep for 2015 Card Changes

With as many as 5 million mobile point-of-sale readers in circulation in the United States, mobile POS companies will have their hands full following the liability shift set for October 2015 when the nation’s payment card networks step up the migration to the MasterCard-Visa chip and pin system. While this change is fantastic for security reasons, there are sure to...

Mar 25, 2014

The US Conversion to EMV Chip Cards Is Underway – But How Will This Affect The Online Market?

American merchants are likely to be a little sceptical about the long-awaited introduction of Europay-Mastercard-Visa (EMV) chip cards into the country, which have been present for quite a long time in other countries. “Why the negativity?” I hear you ask. Although EMV cards are very effective in preventing fraud in card-present transactions, they are not so protective in card-not-present transactions,...

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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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