Licensing & Disclosures

Licensing statement

eBurst Payments is a trade name of eBurst Services Inc, a Florida corporation. eBurst Payments does not hold a consumer finance license under Chapter 516, Florida Statutes. Under Florida law, that license is required for consumer loans of $25,000 or less at an interest rate greater than 18% per annum. eBurst Payments does not extend credit above 18% APR (fees included).

eBurst Payments does not purchase retail installment contracts. In the phone financing program, eBurst Payments lends directly to the customer and disburses loan proceeds to the participating shop on the customer’s behalf.

Holder notice (consumer purchase-money plans)

Notice: any holder of this consumer credit contract is subject to all claims and defenses which the debtor could assert against the seller of goods or services obtained with the proceeds hereof. Recovery hereunder by the debtor shall not exceed amounts paid by the debtor hereunder.

This notice is included in consumer agreements where the plan finances a purchase from a participating shop or provider, as required by the Federal Trade Commission’s Holder Rule (16 CFR Part 433).

Merchant services

eBurst Payments is an Independent Sales Organization for NMI. Merchant accounts are approved by NMI and its processing and sponsor-bank partners.