Jul 26, 2017

Why Are High-Risk Merchant Account Rates High?

If your business considered a “high-risk” enterprise, you probably already know how hard it is to acquire a reasonably-priced payment processing account. Merchant account applications from high-risk merchants are typically rejected by banks and other traditional lenders. And although many alternative processors will be willing to hear you out, their services usually come at much higher rates compared to those...

Jun 30, 2017

How to Reduce Reserve Rates for High Risk Merchant Accounts

Is your business tabbed as high risk? Do you need to open a merchant account to grow your business, but you aren’t sure you can afford the high reserve rates? If you’re trying to find a way that will help reduce the rate you will have to pay, be aware there are ways to help lower reserve rates. Below you...

Jul 20, 2015

A Complete Guide to High Risk Merchant Account Rates and Fees

If you currently have a high risk merchant account, you’re probably wondering how the account provider arrives at the fees. Often, you just see a figure thrown at you and you can’t make head or tail of where it comes from. As a shrewd business person, a time comes when you want to know precisely how the fees you pay...

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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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