Let’s face it, some freelancers often worry about how and whether they’ll get paid. This isn’t anything new and according to a report from Freelancer’s Union and Upwork, over 56 million Americans did freelance work in 2018. Not getting paid or getting paid late is a huge issue that freelancers shouldn’t have to deal with. Luckily, […]
There’s no denying that the payment industry is on fire right now. In fact, there’s been a lot of interest in this space from customers, investors, and small business owners for some time. But, how can you keep up with this fast-moving industry, including the latest payment trends? You can start by reading and subscribing […]
When it comes to accepting and processing payments, there’s a plethora of payment tools for small business. These can range from traditional POS systems to new and exciting FinTech startups. But what if these payment processors aren’t exactly the right fit? Remember, not all of your customers have a PayPal account. Some may live in […]
As a business owner, you’re responsible for lots of tough decisions. And, one of the newer decisions that you’ll have to make when accepting payments is if you’re going to sign up with an aggregator. Or, you could go through the rigorous process of applying for a merchant account. In other other words, you are […]
As a business owner you realize the importance of accepting credit card payments, but you may not realize what a payment processing level means for your business. This is especially true for B2B transactions. While accepting payments like checks and money transfers are common, most companies would rather pay via credit card. Card transactions also provide […]
It wasn’t that long ago, probably just over a decade, when I last told a business that the “check was in the mail.” That was always the way to send a business money. To be honest, I can’t even think of the last time I wrote a check. And, why would I? We live in […]
If you’re like most small businesses, you’ve probably collected payments mainly through cash or checks. While this might have worked for you in the past, this digital world customers expect to be able to pay you online. In fact, it was estimated that U.S. consumers would spend $385 billion online in 2016, with that number […]
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, […]
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.