Apr 18, 2019

Switching Up Sales Process Help ISO Agents Succeed

ISO agents who want to compete and maintain healthy profit margins need to work with Integrated Software Vendors (ISVs), which incorporate payments into many software and hardware solutions. ISVs have already changed the look of the payments industry, so ISO agents need to take advantage of what they can do for them. They provide ISO agents with strategies to grow...

Apr 18, 2019

Philly and NJ Ban Cashless Stores, Creating an Equal Opportunities for Consumers

In an effort not disenfranchise any consumer, Philadelphia became the first U.S city to ban cashless stores, including restaurants. Philadelphia isn’t the only place that outlawed cashless businesses. New Jersey Gov. Phil Murphy signed a similar ban into law on March 18. Even at a time when society continues to pay for more goods and services with digital wallets and...

Apr 17, 2019

Get a CBD Merchant Account Despite Uncertainty Over the Industry

On March 5th, FDA chief Scott Gottlieb signed off on his official Twitter account, setting the stage for him to formally leave the office he held since May 2017. Now, Ned Sharpless, director of the National Cancer Institute, will take the reigns as acting FDA chief until the vacancy is permanently filled. The loss of Gottlieb has left uncertainty among...

Apr 16, 2019

Daily IT and Security Glitches at UK Banks Point to Their Weaknesses

The regular IT and security failures at British banks make it a longshot to become a cashless society any time soon. British banks experience 1.2 IT or security failure each day, according a comprehensive analysis by consumer group, Which? The glitches prevent customers from making payments. During the last nine months of 2018, the consumer group found that 302 IT...

Apr 16, 2019

Merchants Smartening Up to the Value of Smart POS Terminals

The market value of global point-of-sale terminals Market valued approximately $54.7 billion in 2016 and is anticipated by more than 11.20%, according to Big Market Research. Companies also are focusing more on software due to increased penetration of smartphones. Movement beyond hardware means embracing software and services, which is a trend that will last for years for both providers and...

Apr 15, 2019

As EMV Merchant Acceptance Grows, Fraud Spikes in Online Transactions

As of December 2018, more than 3.1 million merchant locations accepted EMV (Europay, MasterCard, and Visa) chip cards, according to Visa. This is a 692% increase since the beginning of EMV migration in 2015. As of the end of last year, there were 511.1 million EMV chip cards in circulation in the United States, which is a 221% increase since...

Apr 15, 2019

Cashless Payments Won’t Kill ATMs in the U.S. – Yet

Though many have embraced using mobile wallets and contactless payments, cash isn’t expected to go anywhere soon in the U.S. It may no longer be the king it once was in places like Sweden and China, where people are rushing toward cashless societies, but people in this nation aren’t abandoning their cash yet. With people still using paper money and...

Apr 12, 2019

Apple Pay Adoption Up an Estimated 36% in Five Months

More than 43% of global iPhone users have enabled Apple Pay, according to estimates from the venture capital firm, Loup Ventures LLC. This means that Apple Pay adoption reached 43% of iPhone users. What’s Driving the Boom? Since its launch in 2014, Apple Pay has continued to gain support from retailers and iPhone users. The Minneapolis-based venture firm based its...

Apr 12, 2019

Consumers Embrace Same-Day ACH Transactions, Doubling to $51 Trillion

Same-day ACH transactions climbed to $51 trillion last year, proving that everyone is embracing instant payments. NACHA, the electronic payments association, recently announced that 2018 was a milestone year for the ACH Network. Payment volume rose by almost 1.5 billion, making it the fourth consecutive year to add one billion new payments to the network. In 2018, ACH Network volume...

Apr 09, 2019

Chatbots Are the Keys to Saving Money and Improving UX

By 2025, the global chatbot market is projected to reach $1.25 billion, according to a report by Grand View Research. The industry is expected to thrive as more businesses realize chatbots help significantly reduce operating costs. This is why it is no surprise that chatbots have nestled into most sectors, including retail, healthcare, and even banking. Research show it will...

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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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