Jul 20, 2020

Light at The End of The Tunnel

Dear Merchants and Friends of EMB: The COVID-19 pandemic has certainly turned our worlds upside down as we have faced disruptions in our work and our everyday life. Unfortunately, there is no foreseeable end to this human and economic tragedy as we grapple with enforced social distancing, loss of jobs, and of course, fear of contracting the virus itself.  As...

Jul 02, 2020

FinCEN Advisory Warns COVID-19 Risks For Financial Industry

The Financial Crimes Enforcement Network or (FinCEN) has released an important advisory to warn all financial institutions of the surge in medical scams that have cropped up since the COVID-19 pandemic. The advisory gives specific details related to case studies, medical scams, red flags, as well as instructions on how to report this criminal activity.  This is the first installment...

Jun 24, 2020

How The Payments Sector is Responding To COVID-19

The COVID-19 pandemic has left an indelible mark on the health and financial well being of millions around the world. In the payments industry, merchant acquirers have certainly not been spared.  The current crisis has brought an unprecedented amount of chargebacks. With the disastrous restrictions and regulations against all air travel and hotel accommodations, the end result will be endless...

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...

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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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