Mar 16, 2018

What You Should Know About Real Time Payments (RTP)

The US noncash payments system continues to rapidly evolve. The shift from paper-based noncash payments has two major benefits: these new payments are much faster and can more economically transfer the data electronically. Are you interested in Real Time Payments? This article will help you get a better idea of RTP. The ACH and the Payments System We live in...

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...

Jun 24, 2015

Consumers Wondering When will U.S. get real about real-time payments?

Consumers have been wondering for some time why the U.S. does not already have real-time payments. Consumers expect to have real-time settlements on their payments. So why is it taking so long for the U.S. to make the switch? In addition to the delay in the implementation of EMV chip cards in the U.S. (while other countries have had this...

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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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