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, […]
Once you find clients as a freelancer, it’s time to determine how you’ll pay yourself when money starts coming in. Depending on how many clients you have and how many assignments you do, you could be receiving quite a few payments per month. Wondering what’s the best way to pay yourself as a freelancer? Here […]
Accepting online payments and multiple forms of payment is the norm for most small businesses today. The few business that don’t accept multiple forms of payment are no doubt missing out on additional sales and revenue. We already know that people want to pay for goods and services that offer convenience and value, but it’s […]
Most freelancers love invoice day. It’s the time when you can finally cash in on your hard work and get paid. While it feels great to get compensated, invoice day can be pretty hectic if you’re sending several invoices and trying to track down clients for payments. In fact, it can take quite a while […]
Nothing is worse the uncertainty that comes with knowing that your cash flow is low when you still have a while until another payment comes in. When running a business, you have so many things to manage. When cash flow runs low, it puts you in a very vulnerable situation. You may have important expenses […]
One of the biggest downsides of freelancing is having to pitch constantly and scramble to find work. Sure freelancing has it’s on and off seasons depending on which service you offer. Still, you don’t have to start from scratch each month when it comes to working with quality clients. To build stability in your work […]
When you go into business for yourself, there are so many things to consider and set up. You need to get a website, outline your services, create products, determine how you’ll deliver goods, etc. The one obvious thing that’s easy to forget is figuring out how you’ll receive payments. You may or may not want […]
As a solopreneur, a lot can fall on your plate. You’re likely in charge of finding customers and clients, doing the work, and managing all operations. Since you’re essentially running a small business by yourself, it’s important to find the best ways to automate and implement strategic systems you can lighten your burden. Something all […]
No matter what type of business you run, accepting credit card payments is strongly recommended. When I was 18, I used to work at a minimum wage telemarketing job where I’d call small business owners to persuade them to buy our company’s credit card processing machine/system. I knew very little about what I was selling […]
You’ve done the job and now you’re itching to get paid—not so fast. In the scurry to get paid it’s important that you still remember some basics about secure payment. Fraud is rampant online and it pays to be safer than sorry. Here are a few things to remember when you receive payments to make […]
This is an exciting, yet challenging time, to be participating in the payments industry, a business segment that encompasses a growing diverse set of companies, business models, tools and systems. This includes a wide range of ePayments, including eChecks and eCash, as well as credit and debit cards, mobile payments, smart card technology, digital wallets and cryptocurrencies like Bitcoin.
The payments industry is rapidly changing and, with the evolution, comes numerous opportunities for freelancers, small business owners, large companies and consumers to completely alter how they view the payments they make and the types of transactions they do on a daily bases. In addition to these new ways of paying for goods and services, including new Internet currencies, there is more opportunity to do business all over the world and in ways that ensure privacy and even anonymity. The changes are so disruptive in the financial space that the banking industry is starting to take notice and join in on technological development, feeling threatened that a decentralized financial system may replace them altogether.
This means that more businesses will be able to increase the number of payment methods they accept without costing them more money, which then translates into the ability to attract more customers that may prefer to pay a certain way offline or online. The further connectivity in payments also means the ability to get paid more quickly, changing the cash flow of a business forever. New technology also helps reassure customers to know it is safe doing business with you because you have the latest FinTech solutions in use.
However, there are still many issues related to compliance, standardization, and cost to examine. Many small business owners may still be unsure of using a whole new currency system like cryptocurrency. That's why, as a company committed to helping customers make better business decisions, especially when it comes to money and financial strategies, we have developed a blog category dedicated to all subjects about payments.
Our article database on payments offers a wealth of subjects and issues related to the payments industry and the impact it may or may not have on your business. The topics include mobile payment trends and how user behavior might be used for payment authentication; how to streamline business finances with ePayments; how to get clients to pay; the benefits of an invoice managing system; how to create a payment schedule; how blockchain technology stops payment scams; how to set up an ePayments system and its advantages for freelancers; and the future of the payments industry. Other topics focus on security and fraud, transaction costs, cash flow and invoicing problems.
Numerous articles are focused on tips and actions that can be easily implemented into your freelance or small business without breaking the budget or having to rely on a huge team to manage the process. As a team who has founded numerous companies and works with other businesses and individuals to process payments, we understand that the information we provide needs to be focused on critical issues you need assistance with because you lack the knowledge or expertise in those areas to make the most informed business decision possible.