Virtual Doctor Merchants Accounts Now Available From EMB

Sep 24, 2015

If you’re a doctor, a physician, or medical practitioner, you need a virtual doctor merchant account. While these accounts were previously reserved for inherently high risk businesses such as poker and gambling, that is no longer the case. Medical practice is just as risky if not riskier than the said industries.

For a start, medical practice is a “die-by-the-rules” industry. The profession operates by strict guidelines which every practitioner is expected to adhere to. Failure to conduct oneself within the stipulated regulations usually amounts to breach of conduct.

Drug administration is another area that makes medical practice a rather risky industry. Some drugs are regulated at the federal level and you can’t just prescribe them as you wish. Also, wrong prescriptions, knowingly or unknowingly is a serious offense in medical practice.

All these are scenarios that may cause significant business disruptions and which you need to guard against.

Get a merchant account

Every practitioner in the medical and pharmaceutical industry needs a merchant account, and not just for the two reasons mentioned above. With a merchant account, you will be able to accept credit cards – an Achilles heel to most practices. The world is changing and NOT being able to accept cards is the worst thing that can happen to your business. Today, consumers will show up at your practice armed with nothing but the card. If you can’t process the card, that consumer might have to consider other providers. More importantly, most patients are now ordering prescription refills over the internet. If you can make it easy for them to pay online too, then they will likely enjoy the experience.

Accepting cards also makes other processes such as patient registration easier. With the swipe of a card, the patient can quickly register with your practice and proceed to seek actual care. Even keeping track of medical expenses becomes much easier.

Finally, accepting cards is a great idea for any virtual doctor because it makes collections a simpler process. You will be able to pull up records more easily and even follow-up is simpler.

Get immense benefits when you open a merchant account with EMB

Alongside the benefits that naturally come with accepting credit cards, opening a merchant account with EMB also comes with several other advantages. These include;

  • Fast account approvals
  • 24/7 account monitoring
  • 24/7 customer support
  • No set-up fees for most merchants, and
  • iCheck processing

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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