Jun 26, 2017

The Advantages of a High Risk Merchant Account

High risk businesses find it difficult to get approved for a merchant account from traditional banks and other financial institutions. Banks and most payment processors usually shy away from high risk businesses because of the risks and higher chargeback rates associated with this type of businesses. High Risk Merchant Accounts from EMB Fortunately, there are reputable payment processors like merchantbroker.com...

Mar 23, 2016

Banks Try to Find Room for High Risk Businesses

For years, banks have uniformly rejected and hassled high risk merchant accounts, even those that yield large profits. In fact, some banks have decided to stop serving entire industries. However, a clarification in banking guidelines has reassured banks that they can and should be in business with high risk merchants. If banks can create and enforce strong compliance programs, they...

Jul 20, 2015

High Risk Credit Card Processing Now Available for High Risk Businesses

In online payment processing, some business are considered riskier than others. In fact, some industries are deemed unsafe altogether. If you do business in one of these industries, you need to prepare yourself for the “risks” that may come along. The good news is that if your bank deems you “high risk,” they will not hide it from you. Instead,...

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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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