It wasn’t that long ago when mobile payments were considered a novelty. That’s quickly changed when you consider that by 2020 mobile payment transactions will exceed $314 billion. Even more promising, Vantiv has found that 46 percent of Millennials and 41 percent of Gen Xers already use mobile payments — with 22 percent of Millennials […]
When it comes to getting paid for your products or services, there are few options that top credit cards. That’s because accepting credit cards increases profitability, keeps you competitive, and are quick and easy to set-up. Credit cards are also the preferred payment method of customers. In fact, the triennial Federal Reserve Payments Study (FRPS) found […]
Following the financial crisis of 2007-2008, there are wide-range regulations put in place. The idea was to hopefully prevent such a disastrous situation from happening again. While there are good intentions with these regulations, they can also be a severe headache for business owners. This is especially true when it comes to accepting payments. For example, […]
Dreaming of working from your laptop? Working remotely can be as glamorous or as basic as you want it to be. The key is that it’s flexible and allows you more freedom. One of the best ways to earn a full-time income from your laptop is to create products that help people and sell them […]
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 […]
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.