Based in Los Angeles, California, eMerchantBroker.com is a merchant account provider specializing in high risk e-commerce business types. The company is willing to work with high risk business types that may not be eligible for merchant accounts through traditional processors, such as adult products, credit repair companies, collection agencies, e-cigarette vendors, firearms dealers, online gaming businesses, nutraceuticals, timeshares, and others.
There is some evidence that eMerchantBroker is partnered with another Los Angeles-area provider that goes by either “1st American Merchant Funding” or “The Merchant Account Store” (firstamericanmerchant.com), but this relationship is unconfirmed at this time. eMerchantBroker.com is a registered ISO/MSP of BMO Harris Bank, N.A., Schaumburg, Illinois, and is headquartered at 12021 Wilshire Blvd #626, Los Angeles, California 90025. According to a company representative, Blair Thomas is the CEO and is a co-founder along with David Silverton.
- High risk
Sales & Marketing
Key Points - Sales & Marketing
|Employs Independent Resellers||Yes|
|Advertises Deceptive Rates||Yes|
|Discloses All Important Terms||No|
eMerchantBroker.com utilizes a network of ISOs and independent sales agents to market its services. This hiring practice is common within the payment processing industry and usually results in complaints among merchants. In the case of eMerchantBroker, however, there are no complaints alleging misrepresentation or nondisclosure by sales reps, indicating that the company maintains fairly rigorous oversight of its independent agents.
The eMerchantBroker homepage quotes rates “as low as 2.99%” for high risk businesses. This rate quote is incomplete, as it only discloses the company’s “Qualified” rates for these account types without mentioning the higher “Mid-Qualified” and “Non-Qualified” rates that merchants are likely to pay. We consider this type of rate quoting to be deceptive because it may give merchants an unrealistic expectation of the rates they will pay.
Even with this rate quote on its website, eMerchantBroker scores well in this category due to the overall lack of complaints about its sales practices.
eMerchantBroker Marketing Example
Costs & Contract
Key Points - Costs & Contract
|Early Termination Fee||Variable|
|PCI Compliance Fee||Variable|
|Equipment Lease Terms||Variable|
There is very little specific information available about the standard eMerchantBroker contract at this time. Multiple online reviews indicate that the company partners with a number of processors including First Data, iPayment, and North American Bancard to provide its services, meaning that its contract terms could vary greatly from merchant to merchant. In addition, the company’s willingness to work with high risk businesses likely creates a need for even greater flexibility with its rates. Merchants can expect to receive a wide variety of contract terms through eMerchantBroker and are encouraged to work with a sales rep they trust.
One unique feature of eMerchantBroker is that the company is one of the few credit card processors that can provide credit card processing for marijuana dispensaries and delivery services in the U.S. eMerchantBroker’s medical marijuana merchant account enables dispensaries to accept Visa, MasterCard, Discover, and Amex payments in-store using a PC-compatible card swiper or a tablet and printer leased from eMerchantBroker. eMerchantBroker’s system is a hybrid offshore/domestic merchant account that functions as a normal merchant account from the dispensary’s perspective.
Given the lack of complaints about the company’s contract terms at this time, we are awarding eMerchantBroker an “A” in this category. If you have had any experience with the standard eMerchantBroker merchant agreement (including details about any possible early termination fees or PCI Compliance fees), please share that information in the comment section below this review.
Complaints & Service
Key Points - Complaints & Service
|Total Online Complaints||<10|
|Live Customer Support||Yes|
|Most Common Complaint||N/A|
We have located only one negative eMerchantBroker.com review online, and this complaint does not describe the company as a scam or a ripoff. In this review, filed with the Business Consumer Alliance, the merchant claims to have been excessively billed as the result of an NSF fee. eMerchantBroker responded to this complaint and appeared to resolve it successfully. There are only positive reviews of eMerchantBroker on other consumer protection websites, indicating that the company provides quality customer service to its merchants.
Key Points - BBB
|Product & Service Complaints||1|
|Billing & Collection Complaints||0|
|Advertising & Sales Complaints||0|
|Guarantee & Warranty Complaints||0|
Note: We have adjusted this company’s BBB rating according to our own standards. To better understand why we adjust BBB ratings, please see our Rating Criteria.
eMerchantBroker.com is an accredited business of the Better Business Bureau and currently shows an “A+” rating based on one complaint since March 10, 2013. This complaint was filed in relation to a product or service problem and was either resolved to the dissatisfaction of the merchant or did not receive a final evaluation from the merchant. Since it is our general policy to reserve “A+” ratings for companies with zero complaints, we have slightly adjusted the BBB‘s rating to an “A.”
About Phillip Parker
Hi, I’m Phillip and I’m disgusted by the state of credit card processing in the U.S. and abroad. I believe that the industry has been overrun by people who engage in fraud and deception in order to steal money from hard working business owners. I’ve made it my mission to expose the companies and individuals who engage in predatory marketing, pricing, and contracts, or just provide terrible service. Along with uncovering the bad guys, I’ve also discovered the good guys who do stand out from the status quo. CPO is a website where you will find ratings and reviews of these companies along with advice on how to save money and which service providers consider. Together we can move the industry in a positive direction. If you would like to help support my work, please checkout “Fee Sweep” my eGuide to getting the lowest possible fees when accepting card payments. If you haven’t heard of “interchange” this advice will save you hundreds, even thousands, in processing fees.Schedule a Consultation with Phillip