What Can a High Volume Merchant Account Offer?

Jun 11, 2015

Are you unfamiliar with what a high volume merchant account is? And whether or not it is something that could prove useful to you? High volume processing involves what is also called “batch processing”. It is a type of credit card processing that occurs when a large quantity of credit card payments are processed at one time. This type of processing is often happens on a recurring basis.

There are many businesses that have to make high volume or batch processing. Businesses that have product-of-the-month clubs which involve monthly, quarterly or annual fees must use this payment method. Magazine publishers must process ongoing subscription fees. Management companies must process their monthly rent payments. Likewise, gyms and health clubs have recurring membership fees that they must process on a monthly or other recurring basis.

The problem for businesses that are considered high volume is that traditional lending sources are hesitant to work with them. High volume businesses with high growth models are often “punished” by being drug through endless application processes with credit history requirements that restrict or even cause the business to be refused for electronic payment processing.

Fortunately, there are providers that are more than willing to work with business that deal with such high volume on a recurring basis. For example, eMerchantBroker.com specializes in offering merchant accounts to businesses that have been categorized as “high risk” in the eyes of traditional lending sources.

With EMB, a high volume merchant account means unlimited transactions and friendly chargeback policies. Unlike other sources, EMB also offers high volume businesses competitive rates and no application fees. The other great advantage is that the amount of time you have to wait to receive access is considerably shorter than other sources. In addition, a business can have access to their high volume merchant account in as little as three days.

For businesses considered to be high volume, it can be very difficult to receive the solutions they need. Thankfully, high volume merchant accounts have opened a new door of opportunity. The simple and hassle-free application and services also prove to be a big bonus.

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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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