Aug 26, 2015

What to Look for in when Getting a Collection Agency Merchant Account

Every merchant needs a merchant account. From car dealerships to e-cig sellers to even collection agencies, every business needs to safely accept and process plastic card payments. While some businesses have an easy time finding a merchant account, others, like collection agencies, do not. There is a stigma in the industry with this business, and they have labeled it as...

Feb 06, 2014

Collection Agency Marketing

Marketing is the key to any successful business. Word of mouth is nice, but pretty ads in magazines and newspapers help bring in customers, as well. However, how do you market something that business love, but customers hate? Collection agency marketing is easier than you think, and the majority of help could potentially come from your collection agency merchant account...

Nov 14, 2013

Are you a collection agency looking for credit card processing?

Some of the best businesses have debit and credit card processing. If you are a collection agency that has decided to expand to that kind of payment system, then you are on the right track. Getting a collection agency merchant account adds freedom to your business and to your customers. There isn’t anyone that runs the same schedule. The mother...

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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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