Starting A Online Business

Having a online business you can run from home has a lot of great advantages and conveniences, but it has a lot of potential pitfalls, too, if you don’t know what you’re doing. It’s easy to avoid falling into common home business mistakes, though, if you do a little research. Here are some smart tips for making your home business thrive.

If you want to make money with a online business from home, you must be the type of person that is able to learn new things easily. No matter how much you know about the area your home business specializes in, you will still constantly need to learn new things in order to grow your business. If you are not the type of person that is willing to learn, your business is sure to fail.

To get the word out about your new home business, have cards printed with your company name and logo. Give one to everyone you know, and leave them lying around everywhere you go. Spend an afternoon in a busy shopping district and leave your business cards on the bulletin boards of retail stores and professional buildings.

If you have made the decision to quit your day job in favor of pursuing your own home-based business, do not put in a formal notice with your employer before all preparations have been made and finalized for your own business. Even the most well-laid plans sometimes fall through, and it is best not to burn your bridges.

If you’re considering a home business, ensure that there is a market for your wares. If there are a hundred people already engaged in the same field it will be difficult for you to get clients. Instead, take your idea and focus it on a niche – for example, if you want to be a personal chef focus on dietary restrictions and advertise with them in the text.

If you have a home online business, follow the IRS guidelines, so they don’t audit you. Strictly adhering to their guidelines will make the tax process go easier for you.

Make sure you keep accurate records of all your home business activity. It’s easy to put off pesky record-keeping tasks till you feel like doing them, but strive to keep everything pertaining to your business up-to-date so that you won’t be confused and stressed out later on.

When looking for home business supplies, shop online rather than at a brick-and-mortar retailer. You can save a lot of money by searching online for your supply needs. In fact many online retailers offer deeper discounts if you subscribe to an ongoing automatic purchase of the product. This is a great way to save, and these days every cent helps!

These ideas will help keep you on the straight and narrow when it comes to running your home business, so that you can put all your energy into successes instead of failures, and you can avoid making the standard mistakes that others have made many times before you. That will leave you with more resources to put into pushing your business into growth and profit.

“To Get Access To Some Of The Best Training Online To Learn How To Set Up And Grow Your Very Own Online Business, CLICK HERE

Another really great resource to help guide you in your online business journey is Wealthy Affiliate. They truly are very dedicated in helping people start and grow their own online business, they have thousands of like-minded members that are very eager to help you with any issues you may have with your online business, I highly recommend anyone looking to start an online business go and check them out for yourself. I have been a member of Wealthy Affiliate for over 4 years now and If it wasn’t for them I wouldn’t have gotten as far as I have. I will drop a link below so you can go check them out for yourself.

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How To Create More Income With Less Effort

So you want to create more income with less effort. Well, the good news is that it’s actually very easy to accomplish.

However, if you don’t get it setup correctly, you will waste a lot of time and money.

So, let’s look at what needs to be done to create easy income in half the time.

A Highly Profitable Niche Topic

The topic is super important. In fact, it’s everything. If you don’t pick a niche topic that has a lot of people looking to buy and consume products, you’ll be struggling to get anywhere.

I suggest you stick to one of these 3 niche topics: Make money online, Health and Wellness and Insurance. These 3 topics are full of HUNGRY buyers looking to solve their problems.

A High Paying Affiliate Program

Now that you have a niche topic that will make you money when you produce content, you’ll need to find an affiliate program that pays out a high commission per sale you refer to the company.

I suggest aiming for 50% or 75% commission per sale referred. This gives you a HUGE opportunity to profit from paid ads.

An Automatic Selling System

You’ll need a selling system in place to convert more affiliate sales from your efforts. There are plenty of platforms for you to create targeted sales funnels that you will use to get more commissions online.

Do your research and choose which platform fits your exact needs.

A Scalable Traffic Source

As they say, “Traffic is king.” This couldn’t be further from the truth. You can have the best product on the market, but if you don’t have the “eye balls” or “visitors” clicking on your affiliate links, you’ll be wasting your time.

Choose one of these 3 methods: Solo ads, Facebook ads and YouTube Ads. These are GREAT ways to drive targeted visitors to your automatic selling system.

A Budget Of At Least $500 Per Month

Now that you have chosen your niche topic, created your automatic selling system and have picked the scalable traffic source you will be using, it’s important to have realistic expectations.

I’m not saying you can’t have big dreams, but I am saying you should know what to expect from each method you use to get those affiliate commissions online.

A budget of $500 per month will give you the funds to test out those 3 traffic building strategies above. It also allows you to keep your traffic coming in at a steady pace so you can see results quickly.

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Backlinks And Its Importance To Your Site

Having a website that can be able to generate huge traffic with the help of great ranking on search results of a search engine is a powerful yet amazing way to attract new customers. There is no magical tools o formula available for you to become a high traffic gainer or be nice in ranking but you can apply some strategies to the mixture of some quality contents & strong links as these two are the important part of any website today. With the perfect combination of good links and contents, you can grow your online business in a better way.

Getting these links is neither too easy nor too tough for any startup, but before that, you need to know the meaning of back links and its importance to your website.

Backlinks

These are the links that can provide you with an ability to connect a variety of external resources or websites to your site without any kind of hesitation. These are crucial for any business today as these are the vital components that can tell the search engines to give importance to your website in search results. Search engine giants like Google consider these types of links as votes, so it’s like getting new links every time you get voted. But at the same time, you need to consider the generating address of these websites as the links you are getting must be relevant to your work area. The more votes you get that means, the more credibility you are going to add to your site and thus a higher ranking to your site in search results.

Not all the links available on the internet are having such kind of importance as compare to quality links. Generally, giants like Google, Bing and Dogpile give some weights to the links coming from the reliable & popular resources like Wikipedia or the New York Times, so these kinds of links can perform way better than the links generated from our friend’s blog. Every time a website links to your website, then they are telling the search engines to consider your website’s content on the higher priority for getting the useful information from a web. Backlinks define the relationship between any two websites on the internet with the help of greater understand ability between those two websites. A website owner tries to get links from the industry expert websites for giving more power to your site.

Getting the quality links for your site

For the process of getting some useful links to your site first, you have to make a list of potential websites that can have the importance or relevancy to link to your site. For that, you can take help of the internet by searching the keyword related to your work area and then taking websites from the search results which have greater search ranking. You have to keep in mind that you can’t move out from the boundary of your search criteria or your industry. You had to be alert and focused on identifying the quality sites that can have the ability to put significance importance to your site. Getting some quality links from the authorised sites like a government official or university sites (.gov, .edu, and .org) can be a big advantage for your site as search results respect this type of sites.

After finding the list of potential websites now is the time for getting the useful links are targeting the webmasters as webmasters are those persons who maintain these sites. Basically, there are three different types of links are available on the web that you have to focus, and these are:

The first one is natural links

These are the type of links that may have a huge impact on your search results for boosting the popularity of your site in a better way. This required little time and effort as these are the natural links that can come to your site whenever a site chooses to link to your site. The reason can be anything like your website is delivering the quality content to their visitors or generating more traffic with the help of reliable information.

The second one is outreach links

These are the links that may come from the site you have approached or asked. These can be from any popular blog, well-ranked website, etc. You can get these types of links by promoting your existing content, posting useful content as a guest, giving reviews or giveaways for the promotion of product or services to your site.

The last one is self-created links

You can even create your quality links without taking the help of webmasters and an easy way to boost the popularity of your site. There are three ways to do this: By getting involved in blogs/forums, getting your name in directories, creating internal links of your own site.

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Understanding SEO: It’s More Than Just Keywords

For people who don’t work in the tech industry, or who haven’t gotten very acquainted with online marketing, the term “SEO” isn’t likely to ring a bell. However, even if you haven’t heard of it, it’s still majorly important to ensuring that your digital marketing campaign is successful. In this article, we will explain what SEO is, as well as the benefits that your company will get if you use it properly.

What is SEO?

SEO stands for “Search Engine Optimization.” SEO content refers to content that is coded in a way that will attract the attention of search engine crawlers (the mechanisms in Google, Bing, Yahoo, etc. that find webpages and bring them to the search results page) and put your content onto the search results page where it can be clicked on. SEO marketing, another commonly-used phrase, means a style of marketing that relies on this coding as a major part of the strategy.

How do you use SEO content?

A major part of SEO involves “keywords” (which, as you can see, is part of the title of this article). Keywords are phrases or terms that people use to search for things. For example, someone looking to purchase a house might type in “realtors near me” into Google. If you then put “realtors near me” into your article in the beginning, throughout the content, and the end, you will attract the attention of the search crawlers when they begin to look through websites and display them onto the search page (which takes a millisecond, if that).

But, SEO is not just keywords.

SEO is not just all about keywords. There are actually other very important aspects to SEO that people might not be aware of. SEO also involves building up your company’s communicative ability through updating your information on various online “yellow pages” sites such as Google Local Business Center, Yahoo Local, Merchant Circle, and others. SEO also means updating your page titles and adding links to your content. The keywords are a major element to SEO content, but they are certainly not the only thing that goes into it.

Data

Another part of SEO involves the collection of data. Once you’ve readied your content information, addresses, and whatever else you need, your work isn’t done. You then have to retrieve data, such as who visits your site-their demographics, interests, personal characteristics, and more. This will help you understand how to better tailor your site to expand upon this audience.

How SEO Can Help your Business

SEO can help your business by increasing traffic to your site. SEO is primed to increase your site’s ranking on Google (how far up on the search results it appears), and the duration of time that it takes to do so is dependent upon how aggressive your marketing strategy is, as well as how professional. A professional marketing company will be able to structure your SEO content in a way that sounds natural and works effectively. You don’t want SEO content to be blatantly obvious-that can make the phrases sound clunky and strange, and it won’t entice more people to come to your site. Creating natural-sounding content that is both informative and coded well takes practice and time, and an online marketing company has done both and is ready to help your business with its SEO strategy and data collection.

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Why Optimize Your Website for Search Engines

SEO? What is it actually?

Search Engine Optimization (SEO) is the process of affecting the visibility of a website in a web search engine’s unpaid results-often referred to as ‘natural’, ‘organic’ or ‘earned’ results. In short, it is a process of boosting the ranking of the site in the search engine. After you are done with the designing and other technical aspects to finally showcase your site over the World Wide Web, you are still a crucial step away from getting actual visitors or probable customers to browse your website. Without visitors, your effort is rather pointless. For the success of your web page and to make the most out of it, it is necessary to promote your website over the internet, just as you expend a lot of resources to advertise your business. This is where Search Engine Optimization plays its decisive part.

Search engine optimization is a technique that encompasses anything from making the website more user-friendly to influencing the visibility of your website to seek outcomes. Search engines use complex algorithms that are extensible instructions which deliver a list of search results based on a user’s search term. SEO can be difficult to understand, but SEO professionals work their way in line with such algorithms to better the ranking on the search results and make a website more accessible which is website optimization. Some vital aspects of an SEO strategy are outlined below.

Content is king

Content is an essential part of website SEO and includes all the text and images that one can find within the website. Search engine bots are constantly crawling the web on the lookout for original and interesting content for its users. If your website is packed with relevant and contextual original content with regular updates, the chances of meeting the queries of the search engine users go up. Subsequently, your content stands a better chance of being shared and discussed amongst the users giving it higher reach and eventually ranking the website higher in the search results. Without worthy content, the beautiful designs tend to be ineffective as a web design can momentarily grasp the attention of a visitor, but only go so far as to hold the attention and encourage them to visit again. An engaging website can bring down the bounce rate considerably.

Keyword research is the key

Keywords are basically words or phrases that search engine users type into the search box to get a list of search results. It is essential to conduct a keyword research to get a list of relevant keywords for your website and strategically use them to drive in more traffic to your website. Incorporating a keyword research is the core of any SEO strategy. Making contextual and relevant use of such keywords in the website textual content and the meta description are simple instances of how keywords can be utilized for SEO.

Keyword research can also be done to find out what keywords your competitors have deployed to rake in visitors and target those keywords specifically to divert some visitors towards your own website.

Backlinks have your back

Search engines use the wide variety of inbound hyperlinks in a website as a manner of measuring its importance, like a vote of self-assurance. In general, the greater inbound hyperlinks that directs to a website, the better it appears in the search engine results. However, not all links are identical or have the same value. The trick is to discover high quality sites that link back to your website.

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Benefits of Credit Card Machines for Business

Other than credit card machines, technology has produced many notable effects, including the credit card machine. In the 21st century, people open themselves up to technology from the very center of their being. It has the added benefit of leading to an increase in the use of credit and debit cards. Additionally, the coronavirus’ arrival has also contributed to the increased use of contactless transactions. EMV cards are replacing magistrate premium cards. EMV chip cards give you the ability to make contactless payments. The merchants must have advanced payment terminals to accept such payments.

Credit and debit cards are used almost exclusively in today’s business world. To take your business to the next level, you must associate it with a credit card machine. The processing and payment services you need for online sales include a merchant processor that provides you with an online payment gateway. There will always be online modes that people will prefer to use, regardless of the volume of transactions. As a result, you have to use an advanced piece of equipment, such as a credit card machine, in tandem with your business.

Advantages:

Just because we’re living in the 21st century, it’s impossible to conceive of life without modern technology. A large number of businessmen prefer to stick to established business models. However, sometimes you have to alter your plans according to the current situation. This means that you need to be one step ahead of everyone else in the business. You will lose customers otherwise. An establishment that gets access to a credit card machine will enjoy countless benefits. Listed the benefits; so, don’t miss the following:

Obtain Legal Recognition for Your Company:

Accepting card payments using digital payment terminals is a legitimate business practice, so it should help your company a lot. The card brand name will be printed on the POS, and thus the customers will have no problem noticing it. This logo will be featured on the same online marketplace as well. The greater the number of customers from outside the country, the more money you’ll make.

Increase Your Profitability:

To accept various forms of payment, like credit cards, Google Pay, Apple Pay, and more, use a credit card machine at your business. Creating a positive impression on your customers is quite simple, but it also keeps your customers loyal. A credit card machine, thus granting flexibility in the ecosystem of online payment, provides customers with many payment options, thus allowing them to pay bills in various ways.

How to stay ahead of the competition:

Many businessmen have not yet fully embraced digital equipment, making small-business models in the early stages of transition. To accept online payments, your business equipment must be upgraded. If customers are no longer carrying cash, you can outpace your competitors. Research has shown that when customers use their cards to make a purchase, they spend more. Additionally, because you will make a substantial profit from accepting card payments, it’s highly recommended that you do so.

Cash Flow Improving Measures:

The customers’ card payments get settled quickly when they pay with a card. Everything is done electronically, so you don’t have to go to the bank to deposit the money. Additionally, you don’t have to wait for customers to pay you. Your cash flow will thus improve.

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Are You Choosing the Right Stock Market Advisory Company

What do you do if you want to learn driving a car? You will try to find an expert teacher, isn’t it? You do not want to avail the services of a novice individual to help you out, but a professional person can provide you the vital tips and most importantly guide you efficiently. Similarly, when it comes to investing in the stock market for the first time, you require a knowledgeable advice to attain your financial goals and get profitable returns.

If you are a beginner, then it is quite obvious that you may be having no information about the process of buying the right shares in the market. In such a situation, getting the right tips from an experienced financial advisor or a registered advisory company will truly prove to be a great blessing in disguise. However, there are some of the important things that have to be kept in mind while choosing the top stock market advisory company, which are as follows:

How much assistance do you actually require?

Before you make up your mind to hire an advisor, it is imperative that you must first decide about the kind of service you require from them. You may need their help at the beginning or during the time of any issues. This is because an advisor has to formulate a map according to your requirements. Hence, it is suggested to ascertain your needs first and then take further action.

Choose a top ranked advisory company

It is a very important point that has to be taken into the consideration. Availing services of the well known advisory company or a financial advisor is an absolute necessity. Make it a point to carry out a proper background or research work about the company. Check out their credentials, reputation, experience, etc before hiring them.

Asking for a sample financial plan initially makes sense

When hiring a financial advisor, then do not forget to ask for sample plan first. It is imperative to note that there is no such thing called the perfect plan. A sample plan will help you to determine whether an advisory company is actually making sense according your requirements or not.

Conclusion

The financial planners or advisory companies can really turn out to be the greatest asset for you if you choose the best one. They are just like the professional sailors who can help you out to sail through stock investment related problems quite efficiently.

Deepak is a financial advisor who likes to provide quality tips to the people facing any issues with regard to investing in the stock market. He likes to keep himself updated about the stock market by reading articles, news and blogs, etc.

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5 Areas Where Interest Rates Matter!

Although, we hear, a lot of opinions, about, interest rates, and their trends, and impacts, very few people seem to understand, the significance, and importance/ relevance, of these rates, in several areas of our lives! After, many decades of involvement, in political campaigns, leadership, leadership training/ planning, real estate, financial sales and consulting, etc, I strongly believed, one benefits, by understanding, more about these, and how they affect, many things, in our lives! Whether, related to personal, organizational, and/ or, public finance/ spending, home ownership and related costs, credit – related issues, business matters, stock and bond pricing, etc, interest rates, truly, significantly, matter! With, that in mind, this article will attempt to, briefly, consider, examine, review, and discuss, 5 of these areas, and how the cost – of – money, makes a significant difference.

1. Bond prices and interest rates: The price of a bond, generally, is inversely – related to interest rates! When these rates go down, prices, rise, and when they go up, the inverse occurs! Bonds have, what is known, as, a par – value, which is the price, paid, at the end of the term. Markets usually set these at 100, which represents $1,000 per bond, at maturity. However, during the period, the pricing can rise or fall, which impacts, liquidity – related issues!

2. Mortgage rates: For the last few years, we have been witnessing and experiencing, record – low, mortgage interest rates, which have helped the overall, real estate/ housing market, especially, in terms of, pricing increases! In most areas of this country, we are seeing, home prices, at their highest levels, ever, by a significant, dramatic amount! When this rate, is low, a home buyer is able to buy, more – house – for – his – bucks, because, his monthly payments, are so low! Consider, however, what might be the potential ramifications, and impacts, when these rates, will, inevitably, rise?

3. Consumer credit: Low costs of borrowing, help the automobile industry, in terms of consumer financing, etc! Although, not as much as other vehicles, rates on credit card debt, are lower, and there are often, shorter – term, promotions, offering deals! However, since, most of these are variable, and based, on some index, etc, what happens, when there is an increase, in this?

4. Business borrowing: Another area affected, is business cost of borrowing! Presently, they have had access, to relatively, cheap – money, which helps in reducing the costs of borrowing, overall operations, purchasing inventory, etc. But, what happens, when this, ticks – up?

5. Impacts on stock market prices: For some time, because bonds have paid so little, in terms of dividends, etc, many have considered, the stock market, the only game, in – town! In addition, many corporations, have seemed, better – off, than they probably are, and we have witnessed, a higher, ratio of prices to profits, than in the past! How long will this last? How high can it go?

Many factors impact these issues, especially: actual and/ or, perceived inflation; consumer confidence; politics/ government actions/ the Federal Reserve, etc. The more you know, and understand, hopefully, the better – prepared, you will be!

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Setrega – A Global Analytical Regulatory Platform

Setrega is the Global Regulatory Analytical Platform which provides a comprehensive solution to the financial institutions for complying with one or more Regulatory Authorities. Through highly customizable and end-to-end automation, Setrega helps clients to configure Reporting Data, Reporting API, Connecting/Integrating Settings, Report Generation Requirements, Report Validation Requirements, Report Submission Mode and Feedback Management. As a Global Regulatory Analytical Platform, Setrega is designed to integrate with any financial services firms to receive regulatory data and process them to regulatory reports in specific formats with minimum customization effort.

Currently, all financial institutions are facing problems with dynamic changes in regulatory requirements, implementation risks associated with regulatory reporting and managing regulatory report error handling. All financial institutions are forced to adapt to these challenges and continuously seek for solutions which are cost-effective and accurate, with real-time feedback management. Sensiple’s Setrega fits into this emerging environment by supporting multiple Regulatory Authorities with an end-to-end automated solution.

Regulation Complied Preconfigured – ESMA – MIFIR/MiFID II, Monetary Authority of Singapore (MAS), Superintendencia Financiera de Colombia (SFC) etc.,
Significant benefits of the Global Regulatory Analytical Platform are,

Automation Capability

Financial Institutions gets the advantage of preparing and submitting regulatory reports without manual effort.

Comply with new Regulations without risk

Setrega provides flexible data source configuration, API mapping and reporting format changes with minimum customization in product level which ensures relief from regulatory and compliance risks for the financial institutions working in various regions.

Scalability

Depending on the Institutions type like Buy Side/ Sell Side/venues, Setrega is scalable in terms of increasing number of connections, the humongous volume of data, more number of reports and formats, increased number of submission modes and regulatory authorities.

Transparency

Handling a large volume of data gives challenges in managing data to auditing; Setrega makes it more accessible by allowing the clients to have full control over data by powerful data transparency method.

Dashboard

Setrega act as a one-stop shop for all regulatory reporting for financial institutions. A vastly informative dashboard in Setrega provides all historical, current and scheduled regulatory reports and its internal & external statuses in graphical and tabular representations.

Regional Coverage

Financial firms who run their business across the globe get benefited from Setrega as one solution solves all the regulatory and compliance needs. It is successfully verified with major regulatory frameworks like MiFID II and NFA (National Futures Association) and regulatory authorities like SEC and SFC.

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The Rise of Online Payment Gateways

The cashless payment system is growing exponentially with evolving payment methods, rising e-commerce use, enhanced broadband connectivity, and emergence of new technologies. Can increasing incidences of cyberattacks and spams hamper the growth of online payment market or will it continue to grow at a rapid rate?

The global digital payment industry is expected to hit the USD6.6 trillion mark in 2021, registering around a 40% jump in two years. The cashless payment methods are rapidly evolving with ground-breaking innovations such as mobile wallets, peer-to-peer (P2P) mobile payments, real-time payments, and cryptocurrencies. In the growing digital age, many payment technology companies are collaborating with traditional financial institutions to cater to the latest consumer and merchant preferences. Due to enhanced broadband connectivity, increasing mobile commerce, emergence of new technologies such as Virtual Reality, Artificial Intelligence, and rapid digitization, billions of people have started embracing contactless payments in both developed and emerging countries. Besides, surging e-commerce businesses, digital remittances, digital business payments, and mobile B2B payments are boosting the non-cash transaction ecosystem.

Cashless transaction method users across various generations are widely adopting the digital peer-to-peer (P2P) apps as they are more appealing and flexible to use. In-app payments or tap-and-go transactions take seconds at the checkout and allow users to make payments anytime and anywhere. Tokenization, encryption, Secure Sockets Layer (SSL), etc., offer multiple ways of securing payments while enabling digital transactions. Moreover, the users do not have to fill in information every time to complete the payment process. Thus, online payment gateways play a crucial role in the economic growth, enabling trade in the modern economy. With social distancing rules in place, digital payments have become an obligation for contactless transactions rather than just a transaction alternative to prevent the spread of coronavirus.

Digital Commerce Empowering Businesses
Electronic payment systems have become a crucial part of businesses as consumer inclination towards online shopping is expanding. With broadening internet penetration, increasing use of smartphones, and diverse options for e-transactions, most consumers are preferring online channels over traditional brick-and-mortar stores for shopping. Therefore, businesses are shifting online with an electronic payment solution to maximize their profit earnings. Automating the electronic payment system eliminates the scope of errors and saves a considerable amount of time and effort. High standards for detecting and preventing fraud in digital transaction systems and AI-based fraud detections protect users from security breaches. By providing the flexibility for making payments through credit/debit cards, mobile money, e-Wallet, etc., the businesses can expand their customer base. The electronic payment process improves customer satisfaction as customers do not need to count cash or deal with paperwork whenever they want to make the transaction.

Biometric Authentication Enhancing Security
Biometric authentication involves recognizing biometric features and structural characteristics to verify the identification of an individual. The verification method can involve fingerprint scanning, facial recognition, voice recognition, vein mapping, iris detection, and heartbeat analysis. With the rise in identity theft and fraud, biometric authentication has become a reliable and secure alternative for making digital transactions. According to a recent research, biometrically verified mobile commerce transactions are expected to constitute a massive 57% of the total biometric transaction by 2023. Biometric payment cards are also becoming popular as they support tap-and-go payments, allowing users to make faster digital transactions. The digital payment technology provider, Worldline is partnering up with the French FinTech, A3BC (Anything Anywhere Anytime Biometric Connection), to protect mobile phones from intrusion with a two-factor authentication process. The combined solution eliminates identification through a single touch, rather it recognizes fingerprints through a picture of the hand. MasterCard is planning to bring FinGo’s vein-scanning payment solution that facilitates users to authenticate transactions.

Dominance of Mobile Wallets
In 2019, mobile wallets overtook credit cards to become the highly adopted payment type globally. Digital wallets offer flexibility to users to store multiple payment methods in one digital home and turn cash into electronic money required for online or in-store purchases. Financial institutions have already started to embrace the digital wallet trend by offering virtual cards to business customers. The virtual cards stored in digital wallets consist of details like 16-digit card number, CVV code, date of expiry and work just like the physical plastic card. Currently, only 37% of merchants support mobile payments at the point of sale, but with the rising adoption, merchants are willing to invest in technologies facilitating digital wallets. The virtual wallets can save money due to low processing costs as they limit transaction values and frequency. Artificial Intelligence (AI) is improving the user experience with regards to transactions with ChatBots, designed to execute and robotize essential exchanges as per the user’s interest. Besides, cryptographic money-based e-wallets are being embraced by new companies to small-medium organizations for storing digital money. Smart voice technology is contributing to the growth of smart voice wallets ever since Amazon propelled the principle of this platform, which is now being followed by Google and Apple.

E-Commerce Boom Accelerating Digital Payment Market Growth
E-commerce growth at an exponential rate is creating shock waves, and the sonic boom is reverberating across the FinTech sector. The growth of many e-commerce companies is driven by the kind of financial services they provide. Digital transactions make it convenient for the buyer and seller to make transactions and remain loyal to the market space. The COVID-19 pandemic added a different dimension to e-commerce innovation, introducing newer trends such as payment alternatives at checkouts (not with digital wallets), virtual cards, QR codes, and other touchless transactions. Besides, the Buy Now Pay Later (BNPL) trend is dominating the e-commerce industry as it relieves the financial burden on the buyer. BNPL involves a soft credit check, so the consumers can buy what they need, keep the inventory moving, and pay overtime without affecting their credit score. BNPL provides businesses with much-needed liquidity and greater flexibility at the checkout.

Influence of COVID-19 Pandemic on Digital Payment Market Growth
Digital payment systems have moved beyond their peer-to-peer (P2P) transfers and bill payments. The COVID-19 pandemic allowed digital payment systems to showcase their strengths, such as a strong understanding of hyper-local markets and its ability to establish strong local partnerships. Businesses and consumers increasingly “went digital” for providing and purchasing goods and services online. When the pandemic hit, people did not want to touch or exchange cash due to the paranoia of catching the infection from physical currencies. Several governments around the world introduced digital financial transfers to provide COVID-assistance. Owing to lockdown measures, consumers shifted to online platforms, which catapulted the demand for digital payment systems. Now, digital platforms have become an essential component of people’s lives, and consumers are more likely to continue shopping online in the post-pandemic period. The dramatic shift in consumer behavior is likely to augment the demand for e-payment systems even more. Therefore, companies are focusing their attention on digital mediums to meet the new customer demands and thrive businesses in the changing market scenario. Organizations are reimagining customer journeys to reduce friction and provide new security features. Payment companies such as PayPal and Square Cash are staffing up across the board to better understand the rearrangement of societal norms and stabilize the business in the near future.

e-Payment Systems are the Future
With increasing smartphone and internet penetration, consumers are becoming tech-savvy, which presents endless opportunities for the digital payment markets. Post-pandemic, digital payment systems are anticipated to continue to flourish over the years to come. While cards remain the first choice for payments around the world, mobile wallets are quickly gaining traction. The traditional cash flow is declining in bank branches and ATMs, demonstrating a power move towards a cashless society. Currently, China dominates the global mobile wallet consumption, followed by South Korea. However, there are still many countries that are highly dependent on cash due to lack of trust towards financial institutions and lack of proper broadband infrastructure, etc. In the near future, social media-initiated payments, biometric payments, voice-activated payments are likely to become mainstream in developing countries as well.

Cybersecurity and Privacy Concerns with Online Payment Solutions
Cybersecurity and privacy threats have become a troubling concern with the increasing incidences of online fraud. According to the Mastercard survey, one out of four consumers experienced some kind of fraud in 2020, ramping up the cybercrime rate by 49%. In the first half of 2020, online scams increased by 73.8% from 2019. However, adopting new-age technologies such as multifactor authentication, biometrics, 3D security, Artificial Intelligence, and Machine Learning can help control fraudulent activities such as phishing, virus attacks, etc. Shifting to contactless cards, QR codes, and tokenization can also help mitigate risks associated with digital payment solutions. Besides, sensitizing end-users about the secure application of e-payment solutions through amplifying efforts towards building financial literacy can help to prevent frauds. The emergence of mobile commerce and the evolution of e-payment platforms backed by robust security solutions can help to drive the goal of making the economy truly cash-less.

According to TechSci research report on “Global Payment Gateway Market By Type (Hosted, Self-hosted & Bank Integrated), By Enterprise Size (SME and Large Enterprise), By End-User (Retail, Travel & Hospitality, Healthcare, Education, Government, Utilities & Others), By Region, Competition, Forecast & Opportunities, 2026″, the global payment gateway market is expected to cross USD15 billion mark in 2019, registering a CAGR of 22% by 2026. The growth can be attributed to the increasing demand for online transactions, rising broadband connectivity, and exponential growth of e-commerce across the world.

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