Nov 26, 2019

A Spotlight on Mobile Wallet Fraud in eCommerce Payment

With online sales multiplying by the day, and 2020 predictions for the sector approximating at trillions of dollars, merchants must understand key market trends to stay afloat in a dynamic market. Payments, for instance, are vital in making the sales process successful. With the advent and widespread use of cellphones, the adoption of mobile wallets have increased, and so have...

Nov 20, 2019

Data Safety & Confidentiality a Top Concern for E-commerce Shoppers Worldwide

A 2019 survey by 2checkout.com on customer buying habits revealed some facts about online shoppers; that data security and confidentiality matter most to customers when buying from a web-based merchant. The study also found that buyers are most likely to abandon a filled shopping cart because of a mind-change about a purchase than due to reasons like prolonged delivery periods...

Nov 19, 2019

Online Insurance Transactions, the New Target for Fraud

For business owners, shifting to online platforms often comes with a host of risks no matter the industry you serve. Anyone can be a target! And now, new data from recent research by Iovation reveal that insurance is the next favorite e-commerce fraud target. Cybercriminals are increasingly eyeing firms that offer insurance services as web-based payments for the sector surge...

Nov 19, 2019

Travel Sector Wasn’t Ready for Two-factor Authentication

14th Sept came and the travel sector still looked like it was still not ready for two-factor customer verification. A report released days before the September 14 cut-off date showed that most sector executives were worried about their preparedness to meet the terms of the new regulation. The findings report by Amadeus dabbed Preparing for Two-factor Authentication, released less than...

Nov 14, 2019

Canada’s Anti-Money Laundering Rules and Its Effect On Casino Operators

Money laundering is defined as the process in which profits earned by criminal activity are converted into funds that “appear” to have been acquired by legal means. This is normally carried out by moving the illegal funds through a quick series of financial transactions. When done successfully, money laundering will hide the criminal act that generated the funds as well...

Oct 30, 2019

Political Contention Over Fed’s Faster Payments

The Federal Reserve announced at the beginning of August that they are planning to build a real-time payment platform. This would address concerns from smaller financial institutions that are hesitant to buy services from The Clearing House (TCH), which is run by the nation’s largest banks and is currently the only network that provides services for all channels. By providing...

Oct 29, 2019

Facebook’s Libra Struggles For Political Support

While cryptocurrency may still seem somewhat oblique in mainstream circles, the growing interest is hard to deny. Facebook is trying to capitalize while the iron is hot with its proposed cryptocurrency, Libra. While Libra has been in development for over a year, it may appear to be a poor time for Facebook to be pushing its agenda. The company has...

Oct 29, 2019

Europe’s Working Hard to Stop Counterfeit Currency

Although the use of digital currency is on the rise, European law enforcement is still working to keep dark web counterfeit currency in check. The growing availability of counterfeit tools on the dark web means that counterfeit networks are cropping up more frequently. A bust that happened earlier in April saw Spanish police takedown the “most active” euro counterfeit organization...

Oct 29, 2019

Fed Entering The Real-Time Payments Market With FedNow

The Federal Reserve announced that the Federal Reserve banks will create a new “round-the-clock real-time payment and settlement service” called the FedNow service to provide faster payments within the U.S. It is expected to launch by 2023 or 2024. It will begin by offering support for transfers of up to $25,000. The Federal Reserve holds the belief that faster payment...

Oct 24, 2019

Dark Web Cannabis Dealer Busted in Spain

Earlier this year in March, the Policia Nacional was one nation among others in Europe that partnered with the US and Canada to shut down over 50 dark web marketplaces. As part of Spain’s crackdown against the illegal marketplaces on the dark web, the national police arrested a dark web user last year who they have identified as being an...

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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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