Should You Accept Digital Wallets?

Should You Accept Digital Wallets?

Jan 30, 2017

In order to determine whether accepting digital wallets is right for your business, you should consider a few elements that are likely to impact your business. First, you should consider the adoption rates for these wallets. Next, you should consider the benefits of doing so. Only then can you make an informed decision. Adoption Rates There’s an interesting back and forth at play when it comes to adoption rates of digital wallets. Some customers are apprehensive because merchants are apprehensive, and merchants are apprehensive because their customer base is as well. However, recent regulations have shifted the burden of fraud onto the merchant. This has changed the POS dramatically, and means more terminals are likely to accept digital wallets. That’s driving adoption of this technology in new ways. If you’re getting into business, or looking to upgrade, it’s likely you’re looking at terminals that accept these new payment forms. Benefits Mobile wallets take the burden of fraud prevention off the business owner’s shoulders, and some provide handy loyalty programs as well. The bottom line is that these wallets make it easier to spend money at a particular business, or on a particular product. Gamifying shopping will unlock coupons and exclusive deals for customers, and could be a major draw for big box retailers in the coming years. The bottom line is that accepting digital wallets goes beyond offering multiple forms of payment to your customer base. It helps build customer loyalty and can be part of a broader marketing strategy. Charge.com provides small businesses with industry-leading merchant services, affordable rates, and the most efficient method to process payments...

4 Steps to prep for leaving your job to start a new business

4 Steps to prep for leaving your job to start a new business

Aug 6, 2016

Leaving your job to start your own business can be a difficult decision. Your current job maybe giving you the security without the job satisfaction that your new business would offer. Here are 4 steps that will prepare you for this new journey. Learn from others – Make sure you read and speak to as many people who have made the transition from working a regular 9-5 to starting their own business. It is important to remember that change is not always easy, but can be very rewarding in the long run. Ask for help – Look at enrolling yourself in a course, working as an apprentice or reading books regarding the industry you wish to enter. It is important that you receive the correct guidance and you are aware of the highs and lows of the business you wish to get into. Use your current job – Make use of your current job, to give you a safety net while you make your transition. Be patient with yourself and let yourself master new skills with the confidence of being financially secure. Don’t get discouraged – Working for yourself will be different to working in the corporate world. You will have to work extra long hours and sometimes receive much less pay. Therefore, you should try to measure your success ways other than in monetary terms, for example,...

4 Hot jobs that pay more than $150K

Most people believe that a 6 figure salary is out of their reach. However, here are 4 hot jobs that will get you that paycheck you have been dreaming of. Anesthesiologist – Being a doctor maybe out of your reach, however choosing a career as an Anesthesiologists can earn you a upto $400,000. You will need 4 years at the undergraduate level with four more years of medical school. This should be followed with four years of residency and a fellowship for another year. Nurse Anesthetist – If putting in so many years in med school seems daunting, you could choose to be a nurse anesthetist. These nurses will assist anesthesiologists and oversee patient recovery from anesthesia. Such a career will yearn an annual wage of $158,900, to $187,000 a year. You will need a bachelor’s degree in nursing and a registered nurse licensure. On top of this at least one year of acute-care experience in an emergency room or intensive care unit is a must. Chief Executive – This big paycheck of roughly $180,700, on average comes with a lot of responsibility and long working hours. You will need an MBA, but in most cases understanding the industry you are in and working your way up to the top, will be the most effective way of landing this position. Marketing Manager – As a marketing manager you will make approximately $137,400 to $171,000 a year. This job will see you organizing marketing campaigns and events. It is best suited for people who are creative and possess good communication skills. You will need a bachelor’s degree marketing, communications, business or a similar...

5 best times of year to buy a new car

You may want to buy a new car, because you want a new set of wheels, your family size changed or your old vehicle is on it’s last leg. Whatever the reasons, timing your purchase will help you get the most out of your money. Here are 5 best times of year to buy a new car; At the end of the month – If you’re in a hurry to purchase a car, wait till the end of the month. Managers at car dealerships will be more willing to offer a larger discount, if they feel that the sale will help them top up their monthly quota. When Models Are on the Way Out – When new models of vehicle comes in, dealers are quick to want to get rid of the old model. If you are comfortable driving an older model, this is the best time to buy a car. Buy at the End of the Day – Most car dealers will drop their prices at the end of the day or on a specific day of the week. It is a known fact that dealers will give their best price on sundays. Black Friday – Most shoppers are only interested in getting holiday gifts on black friday sales. However, for those who are looking to buy a new car, black friday is one of the best days to purchase one. When a Rebate Is Being Offered – Some dealers offer clear out discounts on certain models on specific days of the year. Speak to a known salesperson about sale...

The Ethics Behind Payday Loans

The Ethics Behind Payday Loans

Jun 4, 2015

By Phin Upham John Oliver recently did a bit about payday loans, which the show implied was a predatory scheme. It’s unsurprising that LA Weekly ran a similar story about payday loans. The short-term loans are painted as unethical, with obscene amounts of interest. Yet there is surging demand for this industry. Are payday loans evil? Is anything so cut and dry? The Scary Stuff About Payday Loans If we’re going to discuss payday loans with any level of seriousness, we need to move past the outrageous talking points. It’s true that some payday loans carry interest rates that can be in the 1000% range, however that’s annualized percentage. The loans themselves are meant to be short term, so ideally the 1000% interest rate the media enjoys as a talking point would never apply because the loan would never default. These loans are voluntary too, and they serve both parties. What makes payday loans “bad” is what happens when people default. It’s important to understand that usury is not a “bad” word or concept. Usury certainly wasn’t viewed as evil when the federal government created the Federal Housing Administration, which was designed to loan money and stimulate home ownership in the lower income brackets of society. Payday loans represent a $6 billion industry with demand that can surge across state lines in an effort to get around laws against the practice. Lenders can act in an unethical fashion. That has never been in dispute, but the loans themselves are incapable of carrying a distinction as “good” or “evil.” Payday loans have benefitted low income households all across America. About the Author: Phin Upham is an investor at a family office/ hedgefund, where he focuses on special situation illiquid investing. Before this position, Phin Upham was working at Morgan Stanley in the Media and Telecom group. You may contact Phin on his Phin Upham website or Twitter...

Meet the First Female Partner for the Berenberg Bank

Meet the First Female Partner for the Berenberg Bank

May 5, 2015

By Phineas Upham Elisabeth Berenberg is notable as being the first female to serve as a partner to the Berenberg Bank that carried her namesake. She served for ten years, the first time in the family’s history of being in business. She was a Hamburg heiress who became a merchant banker, an uncommon profession for women of the time. Her family had come to Hamburg as religious refugees from Antwerp in 1585, and they founded a merchant house with the money they’d managed to take with them. They had partnered with another family, Hanseaten, which was one of two of the most prominent families in the city-state. Her father owned the bank during the 1700s, and her great grandfather had been instrumental in forming the bank during its early years. Her family was essentially comprised of the most prominent merchants and bankers of the time, even after the exile. She became the bank’s partner succeeding her late husband, and managed the firm for 32 years with her son-in-law. Her late husband was a marriage of convenience. Elisabeth was not known for her beauty, but she was known for her kindness. She spoke Latin, along with a host of other languages, which made her an adept conversationalist. She was a devoted wife and mother, and retained large sums of money with her family company until her death. She eventually stopped her activities with the bank in the year 1800, retiring to let her sons run the establishment. Phineas Upham is an investor from NYC and SF. You may contact Phin on his Phineas Upham website or LinkedIn...