As a business owner or freelancer, you’re probably aware of the fact that getting paid isn’t a straightforward profit. In fact, if you want to get paid fast and accept credit cards and many online payments, fees will cut into your earnings. The good news, though, is that saving money on payment fees doesn’t need […]
Money preferences have shifted over time, and while cash is still the preferred way to handle a wide range of transactions, money transfer apps and digital wallets are quickly rising in popularity. In a recent survey, 77 percent of respondents had used bank transfer apps and 69 percent have tried money transfer apps, according to […]
A freelancer’s passion is to help people in some way whether you’re offering writing, design, or another service. Being a little too helpful can cause us to not set proper boundaries with our clients. Beware — unclear boundaries and doing favors don’t help your bottom line. Rush work is a specific area where you need […]
Almost every American adult is familiar with the obligatory squiggle of your name to complete a transaction. But how secure are those signatures in helping us avoid fraudulent transactions and purchases? Not very. Putting aside all of the hassles of writing your name with a dead pen, getting something that looks somewhat like your name […]
Because it’s the week between Christmas and New Year’s things are pretty quiet right now. People are enjoying some downtime and are out of the office. Because of this, it’s also a good time to grow your business while everyone is on vacation. During our regular schedules, it can be difficult to do the tasks […]
I was hanging out with a friend who runs their own business when they mentioned how it was taking five days for a client payment to hit their bank account. They were frustrated because they would accept payments immediately but it would take forever for them to actually see the money. This is just one […]
When dealing in the world of physical products, you will inevitably run into payment and shipping terms negotiations. Like in most business-to-business relationships, shipping and payment terms are often negotiable. Don’t just assume all payment terms are set in stone, and never accept a deal that isn’t good for you. To get a good deal, […]
I’ve recently read several articles that have come out regarding oversaturated and dying industries. Sometimes it was due to artificial intelligence while other times it’s because the industry can’t take anymore. The truth is, there’s always going to be some doom and gloom just around the corner. After all, the only constant in this life […]
One of the payments issues many of us still deal with is checks. I’m still dealing with checks from some clients. They come in the mail each month, and I have to make sure they get into my business bank account. It’s not a difficult issue to deal with, but it’s tedious. However, sometimes it’s […]
As an online business owner, one of your biggest obstacles to overcome is shopping cart abandonment – which is costly and can prevent your business from growing. The leading reasons for abandonment, according to the Baymard Institute, are due to the customer not being ready to make a purchase. When adding on the extra costs […]
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.