Yes, Chip and PIN Cards Are Available in the USA

May 26, 2015

The good ol’ signature plastic payment card is about to be extinct. While the jury is still out on when they will go away for good (supposedly in 2016, but there are rumblings of issues), you can already familiarize yourself with the new chip and PIN cards that will be replacing them. While they are new to Americans, they have been around for years in the EU, and are known to be safer and less prone to fraudulent issues. This is great news for all, but you need to know where to look to find a chip and PIN card.

You need to look for cards that are geared towards travelers, since the majority of merchants in the USA are not prepared to accept these cards. Barclaycard Arrival Plus is touted as being one of the best. A great plus – even for those who are not planning to go abroad – is that if it is inserted into a terminals that only accepts signature cards, it will not be rejected. However, if it is accepted into a PIN-only terminal, it works as a PIN card, as it should. It comes with a signup bonus of 40,000 miles, which can be redeemed for a $400 statement credit on a travel purchase. It also gives you 2 miles per dollar on every purchase, with no rotating categories or opt-ins required. When you redeem your miles for travel-related purchases, the card returns 10 percent of them back to you instantly. And the robust selection of specials at its online mall let you double, triple or even quadruple your points if you spend through its chosen partners.

Wings Financial Credit Union also has a chip and PIN option, but it may be hard to get one of their cards, as they are a credit union for members (and family members) of the U.S. air transport industry. Regardless of where you get your card, you need to ask ahead of time if it can be used in-store. Merchant accounts, including many bad credit merchant accounts, are not prepared to handle these cards. Merchants need to make sure that their processor is getting up to date on the changes, like the guys at EMB are. Changes always come, and when they arrive, the ill prepared will suffer.

 

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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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