What You Need to Know About High Risk Merchant Accounts

Jun 16, 2014

It can seem like a tough road ahead if your business has been turned down for a merchant account because it is considered “high risk”. In ways, it is, however it is possible to find a high risk merchant account provider. Be warned that not all are the same, and it may take a little research on your part to make sure that you are choosing the best high risk merchant account provider for your business.

Many merchant account providers say that they will accept high risk accounts, however there is usually a catch. Sometimes it can result in sub-par terminals and technology, and other times the high risk merchant could be charged outrageous fees for every transaction. These are usually “fine print” items, and may merchant service providers will not inform you of these charges; they leave it up to you, the merchant, to sift through the paperwork to find it. You need a reliable, experienced, and honest high risk merchant account provider. You need eMerchantBroker.com.

With eMerchantBroker.com, you are receiving the best possible service, fees, and terminals for your high risk business. Our team of professionals each have years of experience in the electronic payments industry and have helped thousands of “hard to approve” merchants get a domestic merchant account. Our full suite of electronic payment processing solutions ensures we can help virtually any merchant accept credit cards and checks electronically. We offer approval in as little as 24 hours, which is unheard of in the industry. Many high risk businesses have a high influx of transactions daily, and many merchant account providers will flag or close these accounts. Not with EMB. We know that high risk businesses tend to have an abnormally high numbers of transactions, and we will not flag, report, or close your account due to them. However, with these abnormally high numbers comes a higher risk of fraudulent activity (hence the “high risk” label). We offer chargeback insurance to help combat the massive fees that can occur from chargebacks. We also offer the latest terminals, software, and security for out high risk clients.

When searching for a high risk merchant account provider, you should search with caution. Many advertise that they are for high risk companies, and yet they charge outrageous fees and do not provide up to date terminals or software. When searching for a high risk merchant account provider, you should look at EMB. With EMB you have a team of highly qualified professionals who know the pressure you and your business are already under without the added fees. We will help you and your company succeed to the best of our abilities, without the sky-high fees or sub-par technology.

To set up your high risk merchant account, please contact us 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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