What You Should Know About Merchant Accounts and Services

Aug 24, 2020

As of April 2020, online payment methods accounted for more than 58% of payments processed:  merchant accounts were the only means to handle that. To learn more about merchant accounts and services and discover a unique merchant processor, keep on reading this post.

Merchant Accounts and Services

Don’t think of a merchant account as a service: it’s a collection of services aimed at enabling customers to perform services allowing them to be available in an online market.

A merchant account can be described as an agreement that a retailer, a merchant bank, and a payment processor enter into. It allows for processing credit/debit card transactions. You can find more than one type of merchant account in the industry.

As for choosing a merchant account for your transactions, it depends on the company you’re running. This could mean a high risk merchant accounts or a traditional one. Since a merchant account is critically important for online businesses, you should make the right choice when picking one.

That’s where merchant processors like eMerchantBroker.com come into play. EMB, a BBB-accredited processor with an A+ rating, specializes in the high risk field. EMB guarantees fast and easy access to the most reliable and cheapest merchant accounts and services in the country.

Besides, eMerchantBroker.com is classified as the #1 high risk processor in the U.S. What merchants love about eMerchantBroker.com is that EMB truly cares about its clients. EMB talks to each and every merchant to know their business wants and needs, and only then works with banks specializing in the types of business the clients are involved in.

Merchant Account Benefits

With a merchant account, you can enjoy more than one benefit, such as:

  • Increase in sales
  • Better and simpler money management
  • Better customer convenience
  • Ability to better avoid poor transactions

And more.

Merchant accounts come with various fees. Some providers don’t clearly mention them in contracts. So, when trying to obtain a merchant account, make sure you won’t deal with any hidden fees or dishonest sales tactics.

So, operating as a type of bank account, merchant accounts enable business owners to accept debit/credit card payments. To obtain the right one for your business, do your best to find a true payment expert in your field.

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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