Feb 16, 2018

Industry Leading High-Risk Merchant Account for Online Tobacco Sales

Shopping for cigars or other tobacco online is straightforward. Not exactly a task that you would think twice about as a consumer. However, as a business owner, you know how difficult it is to be able to offer tobacco products online; it is actually very complicated. While there is no federal law that prohibits the online sale of cigars, cigarettes,...

Aug 27, 2015

Connecticut Bill Prohibits Online Tobacco Sales

Connecticut is cracking down on online tobacco sales. Congresswomen Rosa DeLauro and Elizabeth Esty introduced the Stop Tobacco Sales to Youth Act of 2015 earlier this year. The proposed bill would prohibit the sale of e-cigs over the Internet and mail to minors. Under current Federal law, the online sale of traditional cigarettes, rolling tobacco, snuff, and chewing tobacco, or...

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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 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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