The Best High Risk Merchant Account Rates

Mar 18, 2015

Every high-risk merchant account holder at one time or another has suffered from sky-high rates. If you have not, then you are either very lucky, or a new merchant. Processing rates tend to be outrageous for high-risk merchants for many reasons, from increased business failures to high fraudulent charge rates. While these processing fees may render you speechless, there are options out there that can offer you a secure, reliable, and legitimate high-risk merchant account, without the outrageous fees.

The best thing you can avoid if you are a high-risk merchant is approaching a traditional processor. While some do allow high-risk clients, they also charge those enormous fees. These fees can cripple a business if the business is not making money. These fees are further increased after your first fraudulent charge and chargeback. A chargeback, if you do not have chargeback insurance, can set you back 270% of the original charge.

What can be even scarier is finding out that your business is considered to be “high risk”, even if you have a zero fraudulent charges, a great credit score, and an A+ rating with the BBB. Most high risk companies are labeled as such because of the business itself. Some of these include online gambling websites, adult dating websites, penny auction websites, and electronic cigarette websites. The businesses are known for higher failures and are subject to higher fraudulent charge percentages. So, what can you do? Right now, you’re probably thinking that all hope is lost, and that your high risk company is doomed. This is false! You just need to know where to look to find a reliable, fee-friendly processor. You need to look no further than EMB.

With EMB, your high risk merchant account is safe. Not only do we provide a portal for you to process checks and plastic card payments, but also we supply you with industry-standard processing fees. Most high risk processors jack up processing rates, which can cause a great deal of harm to your business. We at EMB also provide up to date terminals, security, and software for ultimate protection.

Let us help you get a high risk merchant account today!

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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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