Sep 22, 2017

Merchant Account Shut Down— What Could Be the Cause? And How Can You Fix the Problem?

It can be so devastating to suffer a merchant account shutdown especially during a high-sales season when you’ve put every other thing in place. Any merchant knows that minus the ability to process credit card payments, sales are bound to drop drastically. But what could push a processor into shutting down a merchant account? Too many chargebacks This is the...

Oct 26, 2016

Merchant Account Terminated | What To Do Next

Finding out that your merchant account has been closed can be a nightmare for your business. It can definitely leave you feeling like the world is ending. A terminated processing agreement – and closed merchant account – goes well beyond your businesses current operations; the long-term ramifications can devastate your business’ future endeavors. If you’ve found yourself in this position,...

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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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