Jun 20, 2017

Get Your Online Auction Site Merchant Account From EMB

The online auctions industry is growing with rapid advances as more time-strapped and cost-conscious consumers are looking for convenience they can have to find, compare and purchase products online easily and quickly. Online Auction Industry As there is increased consumer spending and growing number of total internet connections, revenue for the e-commerce and online auctions industry is projected to rise...

Jun 30, 2015

Is Penny Vacay the Next Step in the Penny Auction Evolution?

Are you ready for the next evolution in penny auctions? On July1, consumers will be introduced to the new website, PennyVacay.com. Founded by Shane Marcus, the website gives users the ability to bid on vacation destinations instead of traditional merchandise. PennyVacay will offer premium vacation packages and have a loyalty and reward program integrated into the website.  Right now, all...

Jun 11, 2015

What to be Aware of and Lookout for with Penny Auction Merchant Accounts

Penny auctions are believed to have started in Europe. This web phenomenon has led to hundreds of startups looking to jump in on the popularity. Unlike websites like ebay, the merchandise is being sold by the owners of the website, not third parties. In addition, the bidding process is completely unique. A potential buyer pays a fee for every bid...

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...

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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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