Jan 16, 2018

Payment Processing for Your Financial Consulting Firm

Plunkett Research, Ltd. reports that global consulting revenues in 2016 accounted for $470 billion. This number was $415 billion in 2013. According to CNN Money, in 2016, 5 different consulting specialties such as healthcare, marketing, implantation, IT, and security, were among the top 100 best jobs for fast growth. Financial Consulting Industry There’s an increasing demand for online mode of...

Sep 10, 2014

A Merchant Account Gives Wings To Your Financial Consulting Firm

Many at times, merchants are left surprised at the fact that their businesses are considered high-risk. This classification is usually based on the nature of your business, not its performance. So, if your business falls within the category considered high-risk, it wouldn’t matter how many happy customers you have to show for yourself. One such business is that of financial...

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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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