Jul 24, 2017

Visa and Mastercard | Reciprocal Tokenization

Visa and MasterCard are teaming up to make electronic payments safer. More than 6 months ago, Visa Inc. and Mastercard Inc. announced reciprocal access to one another’s tokenization engines. Reciprocal Tokenization Agreement  MasterCard and Visa released a statement, according to which the reciprocal tokenization agreement allows Visa to request tokenized MasterCard payment credentials from MasterCard for provisioning into Visa Checkout,...

Oct 22, 2014

Tokenization Specifications Reveal the Plans for Mobile Payments | Adult Processing from EMB

The long awaited first version of the EMV Payment Tokenization Specification is now available from EMVCo. The report describes how MasterCard, Discover, JCB, Visa, American Express, and UnionPay transactions will safely occur via mobile phone. The framework attempts to lay rest to some of the security and technological concerns that many have about consumer information transferring between their mobile devices and...

Oct 10, 2014

How Could Tokenization Help High Risk Credit Card Processing?

Believe it or not things are happening all around you that could affect your business and revenue. You have a high risk credit card merchant account for a reason. Maybe you are engaged in one of the high risk industries like e-cigarettes, adult dating sites, adult toys, credit repair or one of the myriad of other industries that are considered...

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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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