May 09, 2019

Fiserv-First Data Milestone Deal is What’s Needed in Changing Market

The multibillion-dollar merger/acquisition between Fiserv Inc. and First Data Corp. may have caught many by surprise, but it makes perfect sense. As the financial-institution market in the United States continues to shrink, it forces the consolidation of core-banking solutions and the processors that service those banks. Therefore, Fiserv’s move is smart and creates compelling strategic and financial benefits for the...

Mar 14, 2014

First Data Corp. And Visa Strike First Deal for Anti-Fraud Measures

The first accord has been struck between the major credit card companies, Visa and MasterCard, and a debit network, First Data Corp., with the looming transition to new electronic payment processes. The swelling incidents of credit card fraud was put in the spotlight with Target Corp.’s security breach late last year. As the credit and debit industry looks to switch...

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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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