The Ultimate Payment Gateway Geared To High Risk Merchant Accounts

Apr 01, 2016

The ability to accept plastic card payments is necessary for the vast majority of businesses. When you operate a high risk business, the necessity is even higher, even though it is hard to find a reputable and knowledgeable high risk merchant account. Sometimes when you find your ideal account, your choice of payment processor is not available. While this happens to many merchants, it should not be the only way to obtain a merchant account and payment gateway.

EMB’s payment gateway not only helps high risk merchants in many industries, but allows you to choose your processor. Options include 1st Pay, Authorize.net, eProcessing Network, NMI, and EMB’s own gateway, plus others. While the majority of payment gateways work for you, there are difference. Formstack has a great chart online defining the differences in many of these gateways, helping you learn more about what you need to look for. While some look for the lowest processing fees, others look for the countries that the gateway accepts. There are many things for merchants to look for, including the ability to accept and process mobile payments. For example. Chargeify does not accept mobile payments. This may be an important factor in your search for a payment gateway.

While no two businesses are the same, no two payment gateways are the same. EMB’s offering of many gateways helps the merchant figure out what is best or his or her company. When in doubt, consult your high risk merchant account processor. In the case of EMB, their industry specialists can help you identify what you need to look for in a payment gateway. A nutraceutical merchant may look for reoccurring billing. An adult dating website may look or mobile payment acceptance and reoccurring billing. Every industry is in need of different things, so the ability to choose your own payment gateway is a huge plus when looking for a high risk merchant account.

Whether you are in need of a high risk merchant account, or are looking to switch payment gateways, you should look into EMB’s offerings. The changeover could save you cash, and perhaps even gain customers.

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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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