Apr 28, 2015

Why Reaffirming Debts May Be the Right Move

When a debtor files for bankruptcy, there is a high probability that their debts will be dismissed. Therefore the creditor can no longer pursue the debts. However, the debtor can still choose to pay the creditor if both enter into a reaffirmation. This creates a new arrangement between both parties which is no longer bound by the previous bankruptcy discharge....

Jan 30, 2015

Will the SSA Take Your Refund Check?

Tax season is quickly approaching and millions of Americans are eagerly awaiting their tax refunds. But for some law abiding, tax paying citizens a tax return will never come. Instead they will receive a letter stating that their tax refund check has been assumed by the social security administration (SSA) to pay the debts of their parents. Even after SSA...

Jan 13, 2015

When Collection Agencies are Your Friends

Owning a business can be the most exciting and satisfying thing in your life. Nothing is better than making sales, reaching goals, and moving product. But sometimes customers are unable to or flat out refuse to pay for products or services after they’ve used them. Despite your best efforts, your business may simply not be able to get certain customers...

Dec 24, 2014

Can the Federal Banking System Ever Become Effective?

Senator Elizabeth Warren told New York Federal Reserve President William Dudley to “man up.” Warren was expressing her frustration at a perceived lack of competent bank regulation. While many believe that the problem with Federal oversight is negligence or impotence, some banking officials think that the Federal government’s dual role as both enforcer and regulator is to blame posing the...

Oct 16, 2014

Foreign Scammers Target Florida with Collections Scam

Florida residents have been targeted by a collections scam that has been traced back to Thailand through emails. While scams via email are not new, there are still those who fall for them. The tactics include threats of arrest and the use of a law firm called “Morgan & Associates.” In one e-mail sent to a Miami-Dade resident, a person...

Aug 29, 2014

Report Blames Education Department’s Oversight Of Collection Agencies

A high-risk business option depends on the risk involved; some businesses are a higher risk than others and in the world of business, this can mean higher charges for services. One of the businesses that are in the high-risk area are Collection Agencies, they are taking a risk in trying to claim back monies from companies or individuals that have...

Jul 17, 2014

eMerchantBrokers Collection Agency Merchant Account Services

Collection agencies are big business, and it can seem like a good idea to use this opportunity to better your life. While it is a lucrative business, you also need to be aware that it can be tricky to get a merchant account from a bank or traditional merchant account provider. Fear not, though, as EMB is here to help...

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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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