Apr 24, 2015

Top 5 Keys to Success for Penny Auction Websites

Penny auction websites have thousands of items for sale far below market value. From clothes to electronics, penny auctioneers earn millions of dollars as consumers hunt for bargains. Now is the time for entrepreneurs to invest in the development of a penny auction website. Penny auctions have been under scrutiny by consumer advocate groups and government agencies to ensure fair...

Apr 29, 2014

How to Get a Merchant Account Approved for Your Penny Auction Website

So you have come to the decision that you would like to start up a penny auction website. Now that you have made this decision you will need to set up your penny auction merchant account as one of the first steps in order to start taking payments from your new potential customers. There are some companies that will help...

Apr 26, 2014

Creating a Penny Auction Business and Merchant Account

Looking to watch profit flow in automated Penny auction business are a fantastic way to create major profit—if you can successfully set your business up. Penny auction businesses need a detailed, and well-crafted model to succeed. Competition is intense and your business is dependent on building a customer base. The Basics The first thing you will need is a script...

Feb 29, 2012

Penny Auction Websites – Approved at eMerchantBroker.com

eMerchantBroker.com is now approving penny auction websites or reverse auctions, under the Scandinavian auction bidding fee model. AKA “Pay per Bid Penny Auctions” AKA “Entertainment Shopping” AKA “Auction 2.0” If you currently operate one of these websites and have had your account shut down, or a large reserve placed on your account. Or if you just want another account to...

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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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