Having plenty of hands in international markets helps companies like Nu Skin Enterprises Inc. become powerhouses across the globe. However, it also creates significant challenges as companies have to keep up with foreign exchange fluctuations. In the first quarter of 2019, Nu Skin’s revenue growth was impaired by about 6% due to foreign exchange (forex) headwinds. For Nu Skin, […]
Over the last few years, cryptocurrency has evolved from a buzzword to a notable investment. Still, financial analysts across the board agree crypto is a speculative play — some going so far as to call it the next dot-com bubble. I don’t believe that it’s a bubble like we saw in the dot-com era, but I understand why cryptocurrencies’ […]
The cryptocurrency market has seen some recent pullback. There’s still widespread uncertainty around the concept’s full implications. That’s especially apparent coming out of tax season. Huge sums of money are flowing through crypto markets, but how much of it goes to the government is up for debate. In anticipation of the next crypto uptick, many investors […]
You don’t have to be an investor or involved in the payment industry to know that Bitcoin has been on a roll. And, it’s just not Bitcoin. It’s any type of digital currency that uses blockchain technology. The age of digital cash is just starting and your business needs to be prepared. The thing is, […]
The rise of the digital channel has changed the dynamic in which businesses engage with consumers. Not only does it affect customer engagement, but also engagement with suppliers. The future of eCash is already showing signs on impacting your merchant profile. Digital tools can enable a more seamless and integrated process for exchanging money, and […]
Payment processing fees are the worst. If you’re just starting in business, these fees are a rude awakening about the cost of doing business. For example, you could get a $1000 payment from a client and then only see $950. And that’s not even that bad. The other thing that’s awful about payment processing fees […]
We’re living in a fascinating time for accepting payments. From cryptocurrency to selfie payments, the 21st century is not lacking in payment innovation. But what does this mean for business owners? Quite frankly, it means you need to get it together. If you’re still only accepting cash or checks, you’re likely leaving a lot of […]
Despite the controversy and challenges that occur — small-business owners are embracing cryptocurrencies, like bitcoin. The main reason, according to the more savvy entrepreneurial-types, is that by using the latest technology they can stand out from other businesses. Does that mean that accepting cryptocurrencies is the right fit for your business? It actually depends on your business’s […]
If you are a business, especially a small business, credit card processing fees can add up. Every single time a customer or client swipes a card, a piece of your bottom line goes to one transaction fee or another. If you are not careful, these fees can significantly eat into your company’s profit margins. This […]
We are rapidly becoming a cashless society. A recent survey indicated that over 57 percent of Americans never even carry cash anymore, let alone use it for financial transactions. More and more people are instead switching to alternative forms of transactions, primarily e-cash payments, in lieu of hard currency; those numbers are expected to climb […]
Electronic cash, also known as eCash, is becoming a common term among consumers and businesses as more digital payment systems emerge and illustrates the new emerging era of money and the ways we will all pay for goods and services. Recognizable systems like Apple Pay, PayPal, and Square as well as online invoicing platforms like Due.com are proving that digital transactions work well in terms of convenience and security.
This change could herald the eventual end to paper currency, paper checks, and even plastic debit and credit cards. Even more incredible is that the inclusion of cryptocurrency like Bitcoins and other altcoins in this definition of eCash could mean the end of geographic-specific currency and no further need for exchange rates.
eCash has come a long way since the concept's original application that did not necessarily catch on in the beginning, but that did lay the framework for what we have now in terms of an anonymous, encrypted way of transferring money across a digital network. Now, those original ideas are incorporated in everything from digital currency to smart debit and credit cards that have embedded microchips for identity and security.
The result of all of this technology is a system that seems to offer endless opportunities for new ways to handle transactions around the world and across all types of businesses. eCash has also been seen as a way for smaller businesses and freelancers to increase their payment method offerings in a way that still fits their budget but attracts more customers. With the ability to cut out the middlemen, in the form of banks and financial institutions, more businesses are starting to pay attention to eCash as a way to reduce their transaction fees.
Despite all these advantages, there are still issues to address as the eCash industry and applications begin to evolve and grow. For example, some have identified legal, regulatory, and logistical issues as well as further security issues that need to be solved before eCash is adopted on a massive scale.
Sharing information on these issues as well as the opportunities, including the emergence of new cyrptocurrency debit cards and digital wallets, provides a way for us at Due.com to help you make better business decisions. The potential of adding eCash payment methods and what it means for your ability to differentiate yourself, attract more customers, and even get paid faster for goods and services will be an ongoing debate that will take serious reflection and knowledge in order to make the best decisions for your business.
Our eCash subject category on our blog is growing daily with fresh content about this topics that fall into the eCash area. Some examples include alternative cryptocurrency to the most well-known Bitcoin, including the advantages to each of these emerging cryptocurrencies. To balance the information provided, other articles Due addresses is the current risks such as those now found with mobile cryptocurrency platforms.
Of course, included is the basics about eCash to help educate the public on how this new type of payment format works, including a primer on how to use this currency and its benefits to your business. More detailed research is available about subjects like how to streamline your business finances with e-payments and an overview on the future of the payments industry. We are excited to continue adding to this particular category as we believe the future of payments will move in this direction, and we want to share that progression with you!