Jun 10, 2014

How Collection Agency Merchants Can Successfully Deal With Delinquent Accounts

When a merchant has to send a customer’s delinquent account to a collections agency, it can be a nerve-wrecking experience. However, there are many collections agencies available to come to their aid. With the economy growing, this is the perfect time to become a collection agency merchant. You may be scratching your head as to how one becomes a collection...

Apr 02, 2014

Applying for Collection Agency Merchant Accounts

Collection agencies are a lucrative business endeavor for any entrepreneur. As an agent of a creditor you can buy the debt of businesses and pursue the payment of those debts as an independent agent. Banks consider Collection agencies as high risk businesses.  Thus, there is some important information you should be aware for opening a collection agency merchant account. Merchant...

Mar 25, 2014

Collection Complaints Rise in Early 2014

The early months of 2014 have seen sporadic collection agency complaints. In January, the U.S. district courts seen a 19 percent increase in Fair Credit Reporting Act (FCRA) filings. There was also a 30 percent increase in Telephone Consumer Protection Act (TCPA) filings. However, filings for violations of the Fair Debt Collection Practices Act dropped 26 percent.  While these numbers...

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...

Oct 15, 2013

Collection Agency Processing Needs Handled Right

A collection agency has a tough road to hoe. The act of getting a merchant account is not as simple as it seems on paper. They fall into the high risk area of the merchant accounts and unless you can prove you have started that legitimate business, you have a lot of work ahead of you. A lot of the...

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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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