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Where To Go When Banks Say No

June 20, 2013

Many banks do not lend today without collateral, and entrepreneurs look for additional funding options to help launch their business.

In a  survey on alternative investment strategies, “Retirement Fund Programs in Franchising,”  FRANdata, shows a growing number of  businesses using rollover funding to start or recapitalize a business.  For almost 40% of respondents, the total required investment needed to fund the start-up of their business came from the use of such rollover retirement funds.

Additionally, they are able to finance their investment by using only a portion of their retirement assets, investing a weighted average of 52% of total Retirement assets. Which still allows them to keep their safety net of retirement funds.  The best part is, when rolling over  retirement funds to start a business, you do not incur penalties or tax and can start your business debt free. (more…)

“Yes, We Accept Checks!”

June 4, 2013

Those of us in the payments industry may often think “electronic is better,” but there are still those who prefer paper. Specifically: checks. 91 percent of U.S. consumers use checks, which is more than any other form of payment?1 In fact, the average U.S. consumer writes over five checks per month for retail payments, and 22 percent of total U.S. non-cash payments were made by check in 2010.2

However, checks often shift risk and hassle onto merchants who have to transport them to the bank, deal with bounced checks and worry about fraud.

Luckily, new advances in check acceptance technology make it safer and easier than ever before to include checks as a customer payment choice. These technologies provide merchants with more secure and convenient options when deciding whether and how to accept checks. (more…)

What Merchants Need to Know About EMV

May 28, 2013

What is EMV?

EMV is a technical standard that ensures chip-based payment cards (also known as smart cards) and terminals are compatible around the world. A chip-based payment transaction occurs when a microprocessor embedded in a plastic card or mobile phone connects to an EMV-enabled POS terminal (either contact or contactless) in order to execute a payment. The smart card technology provides an additional form of card authentication for the transaction—validating the legitimacy of the payment type being used and helping reduce the use of counterfeit, lost and stolen payment cards at ATMs and retail points of sale.

Implications of Smart Card Adoption

Payment industry experts generally agree that a chip-based standard (i.e., EMV) will come to the U.S., but predictions of when and in what form vary dramatically. Smart card adoption in the U.S. is an industry-wide issue, and there is substantial education required for all participants to understand what chip-based payment enablement means to them. In the face of this uncertainty, merchants should start considering how smart card implementation would affect their businesses, and look into options for accepting chip-based credit and debit cards. (more…)

4 Easy Tips for Mobile-Friendly Emails

May 22, 2013

Smartphone usage is sky-rocketing, and with it, so is the number of people that are reading email on a mobile device. According to Litmus, 43% of email is now opened on a mobile device. That number is up 138% from 2010. This means that your email marketing need to be mobile friendly, so that it displays optimally between a desktop/laptop and a mobile device, and looks great regardless of where your customers and prospects read it.

The good news is that there are some really simple things you can do now to ensure that your emails are mobile-friendly:

1. Be as concise, and have a clear call to action

Make sure to include a clear call to action, and put it near the top of your email, Tell your readers what you want them to do, and make it really easy for them to do so. Your messdage should be clear and concise message — a staple of any email, but it’s even more important when designing for mobile. Screen real estate is very valuable on mobile so keep the design very clean and simple and focus on the essentials. (more…)

Gift Card Consumers Love Gift Cards… Should You?

May 21, 2013

Gift cards continue to grow in popularity, with huge potential for merchants who understand how to promote and manage strong gift card programs.

Consider the following…

– Over $27.8 billion was spent by consumers last year on gift cards during the holiday season alone2.

– Over 93% of consumers purchase or receive gift cards every year1.

– Over 71% of consumers report spending more than the value of their gift cards.

– And 31% of gift card recipients say they are more likely to buy a full-price item than an item on sale3. (more…)