What is High Risk ACH Processing?

Apr 24, 2017

Thanks to technology and new innovations, business is continuously evolving. This includes an increased movement toward an electronic, mobile infrastructure. ACH (Automated Clearing House) plays a huge role in this. What is ACH? ACH is a network the was established for financial transactions within the U.S. This network makes it possible for various banks to communicate efficiently regarding transactions associated with accounts held by those banks. ACH provides the ability to move funds to and from those accounts.

Compared to credit cards and traditional check acceptance, ACH transactions are far superior. The advantage of ACH processing is that it typically involves the lowest fees of any payment method (besides cash, of course). It’s also very convenient for both you and your customers. For the originator, the ACH transactions process provides flexibility with their customers once the product/service has been rendered.

With constant changes and improvements, businesses and customers are more and more concerned with the safety and efficiency of transactions. Because ACH entries are entered and transmitted electronically, transactions are faster, easier and safer. Paper invoices, paper checks and trips to the bank can be eliminated. Since it is a cloud based platform, ACH also allows for payments to be accepted from anywhere.

This network can serve a broad spectrum of industries, and is utilized for many different reasons. The most popular include direct deposit for payroll, online bill payments, transfers, subscription services, among many others. Businesses can also automate collection of payments from customers and eliminate delays. All in all, ACH processing helps businesses improve their cash flow.

The biggest advantage of ACH processing is that businesses can secure high risk ACH processing services. For businesses considered to be “high risk” by traditional processors, it can be difficult – if not impossible – for them to secure this service. With an alternative provider like EMB, however, business owners can obtain this service to add security to transactions and to grow their business.

If your business is a startup and/or in an industry categorized as “high risk”, don’t get discouraged. High risk ACH processing ensures your business gets the opportunity to take advantage of this transparent and affordable option. In addition, working with an alternative ACH merchant services processor like eMerchantBroker makes the setup up process fast, simple and hassle free.

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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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