May 19, 2020

Changes To Interchange Fees Will Impact U.S. Merchants

High risk merchant accounts will be directly impacted by upcoming fees. Visa and Mastercard have decided to postpone interchange fees until July as it comes to grips with the rampant economic crisis fueled by the coronavirus pandemic. As governments struggled to lessen the impact and spread of the virus, their decisions have led to many retailers, hotels, and restaurants having...

May 13, 2020

Singapore’s New Digital Banking Regulation Increases Protection

High risk credit card processing will be facilitated by new regulations in Singapore. The Monetary Authority of Singapore (MAS), a supervisor and regulator of all financial institutions in Singapore, has launched a new iteration of the Payment Services Act (PSA). Initially passed by the Singaporean Parliament on January 14, 2019, PSA provides the framework for regulation within the payment systems...

Mar 13, 2020

New York City Is Set To Ban Cashless Stores

In January, 2020, the City Council in New York passed legislation that forbids restaurants, stores, and other retail establishments from rejecting hard currency as payment. This decision has placed New York City on the map as one of the most vocal opponents against cashless businesses. San Francisco, Philadelphia, and New Jersey approved these bans last year and more cities seem...

Feb 19, 2020

Recent Holidays Sales Showed Retail Sales Growth

This the Season According to Mastercard’s SpendingPulse “Holiday E-Commerce Report.” Holiday retail sales increased by 3.4%, excluding the auto market. E-commerce sales went up 18.8% during the 2019 holiday season. Going up from the 18.4% growth rate of 2018. Mastercard’s research emphasizes how important retailer’s omnichannel strategies are. Cyber Monday was very profitable for Amazon, although they didn’t release exact...

Feb 17, 2020

E-Cigarette Merchants Must Comply With New FDA Policy

In January 2020, the U.S. Food and Drug Administration released a policy which focused enforcement against unauthorized flavored e-cigarette products that appeal to minors, including mint and fruit flavors. Under this new policy, any company that does not halt the manufacture, distribution, sale of this unauthorized flavored cartridge-based e-cigarettes within 30 days, will face FDA enforcement actions. HHS Secretary Alex...

Feb 13, 2020

U.K. Cuts Ties the European Union— Now What?

January 31, 2020, 23:00 GMT, the world was still welcoming the new year, and everyone was busy working on their resolutions, while the U.K., on the other hand, had other plans to accomplish— to finally cut ties with the E.U.   Brexit was born back in 2016 by the Government of the U.K. Article 50 of the law that binds...

Feb 13, 2020

A Latvia-based Payment Processor Assents to FTC’s Claims of Taking Part in a Fraudulent Free-Trial Scheme

Transact Pro, a Latvia-based payment processing firm and its ex-chief executive have finally assented to FTC’s allegations of a phony “free-trial” offer scheme. According to the Federal Trade Commission, the accused took part in misconduct that paved the way for a fraudulent free trial offer—ripping off US customers. Andrew Smith, head of FTC’s Bureau of Consumer Protection —the section that...

Feb 03, 2020

Fed Data Showed Electronic Payments Overtook Checks

According to the 2019 Federal Reserve Payments Study, payments using debit and credit cards and the automated clearing house system (ACH) saw considerable growth from 2015 to 2018, while checks are continuously seeing a decline in use. In the study, the growth rate of noncash payments as defined by debit card, credit card, ACH, and check payments was at 6.7...

Jan 31, 2020

The Costs Of Using PIN-less EMV Cards And POS Fraud

When the use of a magnetic stripe shifted towards EMV chip cards, it was marked as the most prominent payment development in the 21st century. Chip cards have been lauded for their improved security and functionality, but they are still missing the mark when it comes to addressing vital authentication problems, leaving retailers to deal with the mess. Stephanie Martz,...

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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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