Mar 14, 2016

Hotels Go to War with Airbnb

New national lodging service, Airbnb, has come under fire lately. The American Hotel and Lodging Association (AH&LA) is lobbying for more government regulation of the peer-to-peer lodging company. The association argues that Airbnb should follow the same safety and health standards, and pay the same taxes as all hotels do. But Airbnb claims they are a fundamentally different business from...

Jan 18, 2016

LOWER HOTEL CREDIT CARD PROCESSING FOR MERCHANTS

“Profitability is coming from productivity, efficiency, management, austerity, and the way to manage the business.” – Carlos Slim Merchants in the hotel industry should take control of their credit card processing performance and find the right merchant account provider that would give them the best available terms of service. Hotel Card Payment Authorization Through authorization, card issuers approve or decline...

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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 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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