May 27, 2014

Government’s “high risk” Label Hinders Some Online Firearm Business

According to online firearms retailers, the government’s increasingly stringent regulations on their sales is harming their business. The FDIC has instructed banks to toughen risk management on merchant customers who use payment processors, like PayPal and merchant account processors by placing these merchants into a “high risk” category. Other “high risk” merchants include adult entertainment and e-cig e-stores. These regulations...

Nov 21, 2013

How to sell and buy a gun online

Regulations, laws, and fear have the gun purchasers and naïve individuals a bit edgy. The law abiding citizens that have every right to bear arms, are frightened by the president’s views. Lack of education causes fear and fear breeds trouble. So, if you are a business that sells guns, here are few things to do to adhere to laws and...

Sep 03, 2013

How to get an Online Firearm Merchant Account?

If you are a certified firearms dealer with a legal Federal Firearms License (FFL), chances are that you want to get your business online to meet the increasing needs of your customers or to help grow your business by providing your customers as much information as possible. Even though you are a licensed firearms dealer, many banks avoid doing business...

Jul 24, 2013

Why are online firearms merchant accounts considered high risk?

The online Gun business is one that is not understood by many, including acquiring banks. It’s this element of not being understood that this type of business finds itself being categorized as a high risk business venture. A merchant account for firearms is exactly what firearms businesses need to be able to accept payments via credit cards. With the acquisition...

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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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