The Benefits of a Timeshare Merchant Account

Jul 29, 2014
article-new-thumbnail-ehow-images-a05-5s-7d-timeshare-benefits-800x800A timeshare can be a perfect property in a dream location for those looking for a way to get away. While it may not be ideal for everyone, it offers many benefits to those interested in a stable vacation plan.

Typically owners buy in to a timeshare and pay dues monthly and/or annually. In exchange the property is maintained and partial owners are allowed to select a period of time when they can visit the shared property. Purchasing a 1/52 share for instance will allow one week of holiday time. There are smaller and larger shares that can be purchased though depending on how much time is desired.

Timeshares are great as vacation properties. There are many in places like Mexico and Florida which attract travelers year round. Thus timeshares allow part owners to return to a great destination without having to seek accommodation.

Additionally, timeshares are relatively affordable. The average new timeshare costs $10,000, a used one could be as little as $1,500 (though there are additional fees for the transfer/sale of a timeshare). Annual fees are also charged and can be between $300-$400. These fees can increase annually depending on the property. Location and time of year are generally significant factors in pricing.

Another feature that many timeshare part owners can take advantage of is the variety in plans. A property might offer a flex plan or a points system giving more flexibility as to when the property can be used. Timeshare swapping could also be a possibility. This would enable part owners to trade their time at their timeshare for the equivalent at another property. Some properties or resorts offer this service and there are also exchange companies that specialize in swapping timeshare holidays for those that don’t.

The timeshare industry is always growing and it’s important that businesses are capable of catering to the consumers. A timeshare merchant account is a great way to enable a timeshare business to accept credit or debit card transactions. The facilities are practically necessary to conduct business nowadays. With a timeshare merchant account, sales transfers and all other transactions can be conducted easily.

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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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