May 27, 2014

Government’s “high risk” Label Hinders Some Online Firearm Business

According to online firearms retailers, the government’s increasingly stringent regulations on their sales is harming their business. The FDIC has instructed banks to toughen risk management on merchant customers who use payment processors, like PayPal and merchant account processors by placing these merchants into a “high risk” category. Other “high risk” merchants include adult entertainment and e-cig e-stores. These regulations...

May 15, 2014

Merchant Accounts for Online Firearm Business

Due to many new state and Federal regulations, online firearm businesses are gaining traction. While they are sure to be a moneymaker, many processors are hesitant about having an online firearms business as a client. However, there are options available for your business, such as eMerchantBroker. Established firearm retailers, as well as new retailers, are seeking to take their business...

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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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