Archives for August 2020

5 Effective Payment Processing Solutions For Your Online Business

August 31, 2020 by Contributed Post Leave a Comment

Online shopping and online business transactions have become rampant. There is a boom in the industry, and business owners need to take advantage of and provide customers with easier ways to make payments. Eight billion people around the world purchased goods online in 2018, according to research by Statista. And according to projections, global e-retail sales will reach $4.8 trillion by 2021. So, here are a few payment platforms you can use to make your customers more comfortable dealing with you.

WePay

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WePay was established in 2008, and its main purpose was to be used for pooling money, especially for donation initiatives. It later pivoted to lend its payment processing platform, which is intuitive and user-friendly, to businesses. WePay is available on mobile devices and charges a fee of 2.9% plus 30 cents for every successful credit card transaction.

Stripe

Stripe’s pricing model says that “only pay for what you use”. Their charges for every successful transaction is a straightforward 2.9% plus 30 cents, and their data and reporting feature shows your transaction information in real-time. There are no set-up or monthly fees, and this payment solution supports more than 100 currencies and processes bitcoin and ACH transactions. Fees start at 0.8% and at a maximum of $5. Stripe released Stripe Atlas to help business owners outside the United States incorporate a U.S. company. They can also open a U.S. bank account, process payments, and receive tax and legal guidance. Stripe is available for iPhone users and Android devices and also on the web.

Inovio

Inovio is a secure and reliable payment processing platform. This platform is great for credit card transactions, US and EU direct debit, US ACH and electronic cash payments. They support nearly all international currencies and anybody anywhere can pay in their local currency using Inovio. They have all the best features of payment processing solutions, and you can easily search orders and transactions with their search technology to quickly issue refunds.

Skrill

Features like instant withdrawals and deposits, exclusive offers and low transaction fees have made skrill an alternative to Paypal. Skrill can accept over 40 currencies and send text messages straight from your account. And if you refer a friend, the company puts 10% of generated fees from sending or paying or money into your Skrill account for an entire year.

Venmo

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Venmo is a payment service owned by Paypal. It allows you to receive, send, and request money from other Venmo users. You can directly send money to someone else’s Venmo account and even link your credit or debit cards and your bank. Venmo is on Apple’s App Store and Google Play. It is free when making payments using a bank account or for some debit cards, and charges a standard 3% transaction fee for all other cards.

Online shopping and payment processing systems are becoming the new normal in a fast-paced world. It will therefore do your business a lot of good if you expand your payment processing systems to suit the needs of your business and that of your customers.

The Secret To Maintaining A Competitive Edge Over Your Rivals

August 18, 2020 by Contributed Post Leave a Comment

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You never want to be the business that lags behind everyone else. Sadly, this can very quickly happen in an age where innovation is rife! When your company falls behind, it’s very hard to catch back up – let alone surpass your rivals.

Therefore, it should be your mission to maintain a competitive edge over all of your biggest rivals. Obviously, innovation is the key way in which you will do this. With that in mind, here are some smart ways you can innovate your business to be a step ahead of everyone else:

Focus on technology

Nowadays, technology is such a big part of our lives. Everyone expects technology to be a feature of each business they encounter. So, take this on-board and focus on making technological advancements to put your business ahead of the rest. Companies like Safebit exist to help you with this by providing technology solutions and suggestions. In turn, you can purchase the best software and hardware to enhance your company and put you above the rest.

A simple example of technology innovation is the inclusion of chatbots on your website to offer automated responses for customers. It will put you above your rivals as you seem more modern, while also offering better customer experience.

Develop a unique product

You have to look at your competitors and analyze their offerings. Consider what they’re doing well, and what they lack. From here, you can use your findings to develop a product that’s unique to your business. You take the positives from your rival’s offerings, but build on them by addressing the weaknesses.

By doing this, you offer consumers something they can’t get anywhere else. As a result, you should be able to attract more customers as you have a more complete product that tackles all their needs. Another advantage of this is that you can sell the product for a higher price because it is unique!

Keep your employee turnover low

A bit of a curveball, but important nonetheless. High employee turnover can disrupt your business in so many ways. It damages the synergy as you’re constantly chopping and changing. Just as your team gets used to working with one another, someone leaves. Now, you have to waste money hiring a replacement then wait until they slip into the right rhythm. During this time, you may lose another employee, setting you further back.

Invest in your employees to keep them happy at your company. This ensures your turnover rates are low, allowing you to form a productive unit. When you keep the same people together for a long time, you can improve productivity and work performance. As a result, you will hold the edge over your rivals – particularly if their turnover is poor!

To summarize, it’s not that hard to maintain a competitive edge over your rivals. All it takes is a few tweaks to your system to put you above the rest. Remember, this is also an ongoing thing – you have to always open yourself to innovation and improvements. This is the only way you will consistently beat your rivals.

4 Things To Consider When Relocating For Your Career

August 17, 2020 by Mike McRitchie Leave a Comment

Are you happy in your career, or are you one of the many young professionals hungry for a little change of pace? Sometimes, to get what you truly want out of a career, you might need to step out of your comfort zone, take a leap of faith, and move to a new city.

Believe it or not, 10% of the population moves each year, and out of all reasons for moving, some of the most dominant factors are career-related. According to a recent study, over half of individuals surveyed relocated for an advancement opportunity or an increase in salary, while one in five respondents endured a career migration to be closer to family.

No matter how strong the motivator, there’s a handful of details to deliberate before accepting a job offer across the state, country or even the world. Below we’ll discuss some of the most notable details to take into account before relocating for your career.

1. Be Prepared For Home Buying

The same survey documented that one third of respondents listed buying a home as the most difficult component of relocating for their career. As if the idea of moving itself isn’t stressful enough, finding the right home can be mentally, physically and financially exhausting.

There’s no way around it – buying a home is tiresome, not to mention expensive. There are the obvious costs, like down payments and closing costs, and then there are the smaller details. Do you need a home warranty? What about home insurance?

Costs, both big and small, will add up, and your finances will need to be in order to be sure that you can handle this investment. To be most prepared, it’s recommended to speak with a financial advisor or real estate agent to determine whether buying a home is a smart investment for you.

2. Bulk Up Your Emergency Fund

As you can see, this life transition may sprout some unanticipated expenditures here and there, which is why it’s crucial that you boost your emergency fund. Perhaps you’re moving to start a new business and won’t see profits for an extended period of time after you move. Maybe the relocation is distant enough to require hiring a moving service. Or, if you’re buying a home, you can expect to be faced with common homeowner expenses within the first few years, like emergency repairs or other maintenance fees.

With that being said, if you’re on the hunt for a job in a new city, state or even country, begin boosting your s a vings account as soon as possible. Cut back on your typical spending, cancel unused services or find other practical ways to allocate more cash toward your savings in the months leading up to the move. It’ll give you more of a cushion to safeguard you throughout an unpredictable, intimidating transition.

3. Consider Your New Salary

While salary isn’t the primary factor for everyone looking to move across the country for a new job, it’s imperative to determine if you can manage the adjustment in pay. Any new geographic area comes with new living expenses and a different cost of living – both of which will affect the overall impact of your salary and your quality of life.

Lay out all your future fixed monthly expenses like your rent, car payment and phone bill and compare it to your net monthly income. Once you’ve gotten a clear picture of your potential cost of living, you’ll know how much money you need to get used to living on prior to the move. In the event you take a hit to your salary, try living on that income before relocating to ensure you can function comfortably on a smaller amount of money.

4. Ask Your Company About Relocation Assistance

Around 25% of organizations are aware of the burden that is uprooting your life and will offer some form of support for new employees. Some may have a connection with a local moving company, provide financial assistance to cover closing costs or provide temporary living expenses if renting a place is necessary.

Ask about financial assistance before making any big moves. In many cases, relocating is time-sensitive, and any way your future employer can help ease this experience can and should influence your decision to move. Also, don’t be afraid to negotiate; advocating for yourself and politely pushing for what you deserve is expected and oftentimes respected by employers.

Conclusion

Making a career change is difficult. If you’re 100% confident that this is the best next step, you should be equally confident in all decisions leading up to the move. From the application process to the day of the big move, it can be seemingly impossible to be totally prepared. Consider some of these tips to be diligent and courageous throughout your career change.