May 04, 2017

EMV’S Impact On Card-Not-Present Commerce

The US decided to switch to EMV chip cards in October 2015. In 2016, e-commerce fraud rates grew by 33%, according to Experian, a global information services group After the EMV Liability Shift In 2016, the Strawhecker Group, a management consulting company focused on the payments industry, found that 29% of card-present merchants were already using an EMV-compliant terminal and...

Feb 06, 2017

Missing More Card Payments | Increased Card Usage

Credit bureau TransUnion, an American company that provides credit information and information management services has recently reported missed payments on credit cards issued by lenders are higher than on older cards. Credit Card Processing Almost 3% of outstanding balances on credit cards given out in 2015 were at least 90 days behind on payments 6 months after they were originated....

Jul 26, 2016

New Chargeback Policy Introduced By American Express Prevents Chargebacks

In June, American Express joined Visa and announced its new policies. These new chargeback policy changes aim to cut fraud costs for merchants who face dramatically increased chargebacks since the EMV liability shift in October 2015. New Policies by Amex American Express told it would not require merchants to be liable for in-store fraud on counterfeit transactions under $25. Reasons...

Dec 16, 2015

THE IMPACT OF EMV LIABILITY SHIFT ON MERCHANTS

“When it comes to fraud liability, we need to recognize that targets may shift.” – Michele Kramer Based on Paychex Small Business Survey, retailers and restaurant business owners are better aware of EMV and the liability shift associated with it, as compared with other merchants. What Does Survey Show? Paychex Small Business Survey was conducted between October 14 and 27....

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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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