What Your High Risk Merchant Account Provider Should Offer

Feb 13, 2017

Thanks to the rapid popularization of e-commerce, merchant service accounts have become a must-have for every business. Through these accounts, merchants have a fast, convenient and secure way of processing payments made through cashless methods such as credit and debit cards, gift cards and even checks.

Merchant account providers come in different shapes and forms, and as such, their services may also vary. Regardless, your preferred company should offer the essentials. These include:

  1. Fast and efficient card payment processing

Irrespective of the number of daily credit card transactions you complete, a merchant account should handle them with ease and efficiency. If you run a physical retail store, the performance of your point-of-sale (POS) equipment depends on its machinery, the processing software, and the network it uses. All these factors should be in peak condition to maintain a speedy and productive payment process at all times.

  1. Top-notch security

The idea of accepting credit card payments entices, but it has has brought to life new forms of fraud and electronic theft. Therefore, your merchant account should have the necessary measures for safe and secure transactions. Such measures include network firewalls, PIN pads, and data encryptions.

Also, your provider should comply with the latest standards, and be willing to upgrade your system whenever a new security update is available.

  1. Flexibility

Merchant service companies might bombard you with a horde of features, some of which end up useless to the business despite being billed along with other transaction charges.

Fortunately, companies like EMB have flexible accounts to allow you choose only the features you need. Having fewer features not only saves you money, but it also makes it easier to understand how the system works.

  1. Unquestionable customer support

One of the most common subjects of complaints made by merchant account holders is poor customer support. Account providers have the bad reputation of only portraying great service during the first month of your contract. If you’re in business with such a company, request for an account termination immediately and transfer to a better firm.

Your merchant account should qualify you for reliable and knowledgeable customer support whenever you’re in need.

Of course, a payment services company can have more to offer and might even be the cheapest you can find. But do not allow them sway you into compromising on the key services above.

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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