Oct 06, 2016

You Learned That You Need a High Risk Merchant Account | How to Get One

Are you a high risk merchant looking for a credible payment processor? Are you tired of being rejected or subjected to high interest rates by banks? More and more high risk merchants are realizing that their best shot at easy payment processing and profits is through online lenders and payment processors. These revolutionary businesses provide convenient and comprehensive services to...

Oct 30, 2015

Selfie Verification Can Save High Risk Merchants

A rash of cyber-attacks and identity theft has created an urgent need for payment processors, retailers, and financial institutions to utilize better identity verification technologies to protect consumers and their own assets. Major financial companies and merchants have turned to built-in devices in mobile phones to lower instances of identity theft. Selfies are no longer just for posting on social...

Oct 23, 2014

Why High Risk Merchant Accounts Are Misunderstood

The Federal Deposit Insurance Corp (FDIC) announced recently that it has withdrawn its list of merchant types that should be handled with caution, which included businesses they labeled as “high risk.” These businesses included payday lenders, adult entertainment businesses, debt consolidation firms, and others. The FDIC released the list in 2011, stating that these types of businesses required heightened scrutiny...

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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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