Jan 21, 2019

Top High Risk Payment Trends to Watch in 2019

Customer whims and demands, shifts in the economy, consumer buying habits, and technological advancements lead to changes in the payment industry. From expected growth in cross-border shopping to advancements in artificial intelligence, 2019 proves no different for high risk businesses. As we settle into the new year, let us talk about the top 8 high risk industry trends for 2019....

Dec 18, 2017

Feds Push for More than Just Faster Payment, The Goal is Increased Safety

In July, Part 2 of the Faster Payments Task Force Final Report was released. This report estimates that real-time payments could – and should – be on the payments scene by 2020. The industry seemed to then settle in after analyzing the report. However, the Federal Reserve jumped in in September with its own comments on how things need to...

Oct 27, 2017

US Banks Embracing Real-Time Payments

The Clearing House is building a system to support real-time payments for the US. As a result, consumers and businesses will be able to send and receive payments instantly, directly from their accounts at financial institutions. Moreover, financial institutions will be able to use data and non-payment messages to build innovative digital commerce solutions. Real-Time or Faster Payments Real-time payments...

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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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