Aug 27, 2020

What You Need To Know About High Risk Merchant Accounts

Whether you are a fledgling business or one that has been in operation for several years, your ability to take both credit and debit card payments is imperative to long-term profitability and even survival. In order to accept payments, you will need to have a merchant account. The type of merchant account issued will largely depend on the type of...

Feb 13, 2017

What Your High Risk Merchant Account Provider Should Offer

Thanks to the rapid popularization of e-commerce, merchant service accounts have become a must-have for every business. Through these accounts, merchants have a fast, convenient and secure way of processing payments made through cashless methods such as credit and debit cards, gift cards and even checks. Merchant account providers come in different shapes and forms, and as such, their services...

Jul 29, 2016

Mobile Payments In The Card-Not-Present World

Given mobile payments, the public attention has mainly been focused on POS solutions such as Apple Pay and Samsung Pay. However, Jane Cloninger, director and owner at Edgar, Dunn & Company, notes that most mobile advancements have been in the sphere of apps and mobile Web. During the 2016 CNP Expo, Leon Majors, founder and president of Phoenix Marketing International,...

Jul 27, 2016

Microsoft Launches Mobile Wallet As A Cloud-Based Payment Technology

US technology giant Microsoft has introduced its mobile wallet feature in its mobile app. Currently, the feature is available for Windows Insiders using build 14360 or higher. The company calls it a “cloud-based payment technology.” Microsoft’s Mobile Wallet Microsoft has recently announced its wallet for mobile payments, which is a competitor to Apple Pay, Samsung Pay, and Android Pay. Mobile...

Jul 20, 2016

Amazon’s UK Sales Not Affected After Brexit

Online retailers are worried about the long-term implications of the Brexit vote. Most of them expect both labor costs and shipping to get more expensive as the border between the UK and the rest of Europe would easily be crossed. Brexit hasn’t hurt online retailer Amazon’s sales in the UK. The company hasn’t noticed a fall in  its British sales...

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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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