Jan 25, 2018

Credit Card Processing for Payday Loan Merchants

Payday loan merchants are classified as high risk and need to find a reputable payment processor to apply for credit card processing. Thankfully, emerchantbroker.com (EMB), #1 high risk processor in the US that boasts an A+ rating with the BBB, offers exceptional payment processing solutions for high risk businesses, including payday lending ones. Payday Loan Merchant Account from EMB Emerchantbroker.com...

Sep 18, 2017

Congress Expected to Vote on CFPB’s Federal Rule on Payday Lending

A payday loan, which is also known as a “payday advance,” “salary loan,” “payroll loan,” “small dollar loan,” “short-term loan,” “cash advance loan,” or “check advance loans,” is a small, short-term unsecured loan. It’s a type of short-term borrowing where you borrow a small amount at a very high rate of interest. About 12 million Americans use payday loans each...

Sep 09, 2016

A Better Way to Integrate Your Payments into Salesforce

Salesforce is celebrated by merchants the world over as a powerful customer relationship management (CRM) suite. People use it to: Conduct follow-ups on sales opportunities Track sales leads and monitor prospects Boost customer acquisition efforts Salesforce is trusted to deliver impressing results in each of these areas. It even comes with social media and real-time customer collaboration and integration in...

Sep 02, 2016

EMB’s Exceptional Credit Card Processing For Pay Day Loan Merchants

In the modern world of the Internet and high technologies, people choose to make payments via credit and debit cards. That is why merchant accounts have become inseparably linked not only face-to-face sales but to those being made via phone or internet. It is worth mentioning that even though merchant accounts for payday loans merchants are of vital importance, they...

Feb 24, 2016

Canadian Payday Loans | Merchant Accounts Surge

Payday loans are already a big moneymaker in the United States, and our northern neighbor are learning how profitable they can be. In the past year, payday loans in British Columbia have risen a whopping 21%. This is leading the way for Canadian merchants to look into this industry as a new business venture. While payday loan merchants can make...

Jan 25, 2016

Payday Loans are Huge, But Taking Payments Can Be an Issue for Merchants

Payday loans are usually the last resort for consumers, and it takes a dedicated merchant to successfully operate a payday loan company. While consumers may keep you busy, many payday loan merchants have a tough time accepting plastic card payments. The government, banks, and processing industry turn up their noses at this lucrative industry, and because of this it is...

Sep 25, 2015

Payday Lenders Must Prepare for New EMV Rules

According to a recent survey of 600 U.S. small business owners, only 32 percent of small business owners are aware of the impending Europay, MasterCard and Visa (EMV) rules. These rules require that all businesses upgrade their POS systems so that they can read chip-enabled credit cards by October 1st, 2015. Any business that does not comply with this rule...

Aug 24, 2015

Mobile Payments Can Transform Your Business

Mobile payments are getting a lot of buzz, and it should be taken seriously. This quick and easy payment method can add customers to your business. While you shouldn’t give up on your traditional terminal just yet, the addition of a mobile payment device can greatly aid your business. This is not a fad or fly-by-night trend. In fact, this...

Jul 30, 2015

Have you Been Dumped by your Merchant Processing Provider? | Get Approved for a Payday Loan Merchant Account from EMB

Did your Merchant Account Provider Dump you? Don’t take it to heart, we’re here for you. EMB is proud to be the leading merchant account processor for payday loan businesses and other high risk industries. We can help get your payment processing back up and running.   Businesses survive on sales and sales require customers to be able to pay in...

Jul 23, 2015

Payday Loan Merchants Selling Annuities?

If the Wisconsin Senate gets its wish, the state’s payday loan merchants could start adding on services. From annuities to insurance to financial advice, this new bill has folks scratching their heads. While payday loan merchants know that most coming in are in need of financial help, the fact that they are offering up financial services seems fitting. However, due...

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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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