May 29, 2019

With Mobile Payments on the Rise, Merchants Must Fight Fraud

Rogue mobile apps account for 28% of fraud attacks, according to the Q2 2018 fraud report by Bedford, Mass.-based security solutions company RSA. Other highlights from the report include: Phishing accounted for 41 percent of all fraud attacks observed by RSA in Q2. Canada, the United States, and the Netherlands were the top three countries most targeted by phishing. Fraud...

Oct 27, 2017

US Banks Embracing Real-Time Payments

The Clearing House is building a system to support real-time payments for the US. As a result, consumers and businesses will be able to send and receive payments instantly, directly from their accounts at financial institutions. Moreover, financial institutions will be able to use data and non-payment messages to build innovative digital commerce solutions. Real-Time or Faster Payments Real-time payments...

Apr 09, 2015

Mobile Phone Tech and Merchant Tech Team Up to Fight Fraud

Online fraud has become an epidemic in the United States. But now, merchants have a new ally in combating this menace. Smart phones have evolved to the point where they can be formidable allies to exhausted e-commerce merchants. Mobile technology can be used to verify the identity and location of online shoppers. Oftentimes, online fraud occurs when criminals manipulate their...

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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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