Success Requires Lots of Commitment

With a worldwide pandemic because of the spread of the coronavirus, many people are having financial hardships. They may have lost their jobs or been cut back on their work because the economy has basically closed except for essential services. They might be fortunate and have a job which was not affected or may have the privilege of working from home and maintaining their income.

Some people may be looking for a new way to earn money. According to the so-called gurus, there are hundreds of ways to earn income from home based businesses. They are careful to tell you that their program works, but they make claims that 98% of the “deals” are fakes and scams. Of course, theirs is one of the few honest opportunities out here.

There have likely been hundreds of network marketing (MLM or multi-level marketing) companies over the years which have drawn in perhaps millions of people hoping to find financial success and even wealth with them. While it is true that some people have been successful and possibly even became millionaires in that type of business, there are likely millions of people who have joined those companies with high hopes for success only to find that they lost money without making a cent. Maybe they even lost friends in the process as they pestered others to join them. Recruiting others such as is necessary in this type of endeavor is difficult. It is not an easy business although it can work. Some people like the products well enough to stay with the company even though they don’t earn money from the business.

Investment gurus often promise huge returns when you sign up for their newsletters or service. Of course, many of their programs cost thousands of dollars. Even then, they seldom fulfill the promises made. Their testimonials sound remarkable, but it is difficult to find that same kind of success which you can expect. Some of the testimonials are said to be fake and possibly actors being paid to read a script. It is best to investigate the “opportunities” thoroughly before signing with any of them. If they offer a money back guarantee, that is a plus.

People can receive dozens or hundreds of emails per day or week touting home based internet and online business opportunities. There are lots of opportunities out there, but finding a legitimate and workable program is not easy. It takes a lot of work and study, but there have to be some honest opportunities to earn money. Sometimes it takes trial and error, but success could be possible.

No matter what you try to do to earn money, finding success requires a lot of commitment. People always say to work smarter not harder, but hard work and dedication are usually necessary to find success in anything.

Success requires a commitment to learn all you can and not to depend on others for your success. Making goals and reviewing them each day should help. Determine to succeed. Keep trying and don’t give up too soon. Commitment is a vital part of your road to success.

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How To Turn Your Passion Into Profits

Everyone has passion within them. All they have to do is to realize it.

Everyone has some kind of passion in them; even people who deny that they aren’t passionate about anything have some kind of passion in them. Most people live without realizing their passion and among those that know they are passionate about something; the majority does not seem to care. Forget making money out of their passion; they don’t even want to acknowledge to themselves that something can be made out of it.

Consider a young man who is exceptionally fond of playing drums. He might be very good, but unless he realizes that his talent of playing drums can make money for him, he won’t actually do it. But for that, he needs to do two things:-

First, accept and believe that he has the talent
Second, use that talent in marketable forms so that money might be made with it.
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​Since we are going to talk about how you can unleash the potential of your passion on your moneymaking aspirations, the first thing you need is to understand where your passion lies. Once you do that, you have to make plans in order to start monetizing your passion.

Your passion could be the thing that you like to do the most. Picture this – you are in a 9 to 5 job for your daily bread and butter. But the thing that really drives you are those weekends you spend at the beach, indulging in some parasailing. Now, there is your passion! You trudge on through the whole week just to have that one day of parasailing at the end of it. That’s your passion.

This is the kind of passion you can potentially tap into. You certainly have a lot of inside knowledge through your trysts with your passion which you could tap into. You could write an eBook about it, start a website, start an online group, etc.

There are several ways in which you can earn money doing things you really want to do.

So, how much money can you make by digging into your passion?

Spend a moment to think about J. K. Rowling. Or think about Roger Ebert. Or think about Donald Trump. Or think about Paul Greengrass. These are people who are immensely rich. But what made them rich? They are rich not through things that they don’t like to do – they are rich through the things they really like to do, things that they think they exist for.

J. K. Rowling had a passion for writing ever since she could remember. She began writing when she was a kid. Despite the various difficulties in her life, she did not give up. She continued writing whenever she could. With two kids in tow, this woman conjured the biggest fiction phenomenon of our generation – Harry Potter. When she made Harry Potter, did she think she would become richer than the Queen? Not at all. She just wrote it out. She gave vent to her passion. The rest just happened.

There’s probably no cinematophile as crazy for movies as Roger Ebert is. He writes reviews for practically every movie that’s released. See how he has converted his passion for movies into his work? His movie reviews are the most highly-prized and he gets paid handsomely for watching movies and penning his keen observation about them!

Need one say anything about Donald Trump? Business is his forte, his passion. And he is unstoppable there. When he has one venture running, he invests into another. He doesn’t even have the time to stop and think about the money. He is just giving vent to his innate passion, allowing it to manifest itself in whatever way it can.

Paul Greengrass is known as one of the most upstart directors in Hollywood

today. His directorial styles have been criticized earlier, especially his penchant for using shaky camera moves, but did he bend his style to please his early detractors? No, he didn’t! And what did he come up with? The Bourne series, that’s what! And his movies have become cult. Not to forget, he’s become quite filthy rich.

Chase your passion. Don’t listen to detraction. Are you good at something, so good that you feel it coming out of your ears? Well, then go right ahead with confidence. You have it in you to make money out of it.

Some important principles that you have to base your passion-related moneymaking ventures on.

It is quite possible to make money out of your passion, but as it is with any other moneymaking opportunity, you must remember that there are some principles and ethics that you need to follow. We shall take a look at some of them here.

1. It is highly important that you respect whatever it is that you are dealing with. If your passion is coin collecting, make sure you bring about the right reverence to your activities. You cannot start blatantly criticizing and abusing this subject. Well, you could criticize, but then you have to justify what you say. Remember that you are trying to make money here. Since your target audience is going to be other people who are also passionate about this subject, you will not earn anything if you sling mud at it without reason.

2. Be knowledgeable. People who will come to you already know the basics. What they want to learn is the viewpoint of another expert in the subject. Make absolutely certain that you know all the terms well and that your facts are right.

3. Keep up with the times. Things are going to change fast, whatever your scope of interest is. Always keep on the move learning new things. It could be a great idea to use Google Alerts which can tell you what’s happening around you.

4. Be responsive. When people reach out to you, they are hoping to commingle with someone else who has the same likes as them. They are reaching out with some expectations in their mind. Don’t belie these. If you do, you are effectively stopping other people from reaching out to you as well.

This brings us to the fifth principle. Always network with people. If you are trying to make money out of a subject that you are very passionate about, network with other like minded people. The more people you network with, the more will you be talked about.

Running your own home business-

Many individuals right now are sick of running to a daily job of 9 in the morning to 5 in the evening and so they’re seeking best home businesses.

There are numerous home businesses and the only thing that you have to do is to look around and get the correct business ideas. Running your own home business has got lots of benefits compared to working for somebody else’s business.

One of the benefits is that your schedule is more flexible. This is because you get to work at whatever time that you wish and likewise at the comfort of your own home. This is really nice as you’ve time for your loved ones and friends as compared to being an employee.

With home business you are able to make as much income as you want depending on the hours that you spend in it, the effort that you put in and many other crucial factors of success.

With home business, there are no bosses to follow you around and holler at you for every slight error; you become your own boss. Being your own boss means that you ought to be able to produce more and bring out high quality work. Because of the introduction of the net and websites, it is now possible to turn your passion and hobby, into a very successful online home business.

The point is, whatever you are good at can become a very profitable online home business!

If you do decide to accomplish an online business through the Net, you are able to easily work from home without having to wake so early to prepare, eat, dress, and go to the office. You don’t have to fret about being caught up with heavy traffic if you remain at home.

Therefore, if you choose to accomplish business on the net you’ll have more time to take care of yourself, get an awesome night’s rest and take your time. You are able to even manage your time whichever way you want it to.

While you might believe that your business won’t be able to generate as much cash as your 9-5 job would, think again. You’re able to still earn as much depending upon how much time you put in.

Now, your mate doesn’t have to nag you so much or quarrel with you about not being able to spend time with him or her. Your youngsters will never have to get angry at you for not playing with them. If you’re single, you’re able to spend more time with your partner, your acquaintances, or yourself and accomplish anything you wish to do.

There are a lot of additional ways to bring in the cash from a home business… So do your preparation and research and see what works best for you and your interests.

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How To Attract Organic Traffic To Your Blog

Increased web traffic is the most important outcome that each blog expects, yet, there are a very few that are equipped with the right SEO techniques to attract organic search traffic.

Organic traffic guarantees a higher rank in the search engine rank pages and has a direct impact on the affiliate and AdSense earnings of the blog.

In addition, organic traffic is much more targeted towards your specific niche and blog promotion agenda, which directly reflects upon the bounce rate.

Specific SEO techniques can help you heard the most amount of organic traffic to your blog; it is only a matter of implementing them in sequenced steps to increase the overall effectiveness of the approach.

Prioritize you goals

Every blog post needs to be oriented based on two different standards, search engine optimized, or pure information related. However, the reality is both these elements are necessary to bring in organic traffic to your blog. Set a goal for your blog, which might account for the fresh traffic that you want to attract on a regular interval.

You can then divide your frequency of posts in to a completely fact based article and additional posts that have been keyword optimized. The problem with a purely SEO post is it tends to sound too artificial and might be riddled with unnecessary mistakes.

However, a careful orientation of this post can help you accommodate interesting information with SEO techniques to create a proper draft.

Cultivate the target keywords before drafting the post

The main reason for search engine optimized posts sounding artificial might be hugely due to incorporation of target keywords after the post has been drafted. This is a very common mistake and it can cause you the quality of your expertise on your blog.

If you cultivate the target keywords before you set up the posts draft, you will have a clear idea of the topic. You can easily figure in the keywords without compromising your blogs quality standards as well as maintaining flawless SEO tactics to attract organic traffic.

Long tail vs. short tail key phrases

This is a very important choice but the process of selection can be simplified. Start-up blogs do not have the niche support to compete on short keywords. Including them in your posts might not be enough.

Other SEO tactics paired with more blog duration might help older blogs to outmaneuver your posts on the search engine rank pages. Instead, focus on the long tailed key phrases and aim to attract a specific amount of traffic from these posts.

The theory is if a visitor types in all the words of a long tailed key phrase, he is more committed towards the results of the search than a visitor who might have just typed one or two words for the information.

Effective channel of links cultivation

Keywords are necessary but they are not the only organic search engine technique. Internal link building is necessary to improve search engine markers for your blog.

External link building, especially on credible niche expert blogs, is necessary to get more attention from search engine crawlers via the attention channeled from these blogs.

Commenting on important news posts from your niche, submitting guest posts on the A list blogs as well as important directories online are all different ways to cultivate quality links to encourage organic traffic to your blog.

Utilize quality resources to search for keywords

The standards of the keywords depend entirely on the analytical efforts put towards obtaining the most accurate statistics of the search potential of the phrases. In other words, the entire foundation of your SEO techniques might be hinged on the quality of your keywords resources.

There are possibly many different sites available online that might help you in this process.

The final and most important suggestion is to look at your complete blog objectively while optimizing for keywords. Apart from the blog posts, the titles, tags, and even permalinks bear a clear effect on search engine ranks. Do not underestimate these aspects of your blog in your quest to attract more organic blog traffic.

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Understanding the Best Link Building Services

Have you heard of link building? Do you know what it’s used for and why it’s so important to search engine optimization and your online success? If not, then you may want to read on to understand more about this online marketing service that you can find from the best internet marketing service providers throughout the world.

Links are used by search engines to identify your web pages and even to determine your ranking in search results. Now you may not have known this, but links provide you with access to a global audience. As you probably know the internet has created one of the most competitive market places in the world and where your business may have been competing with a handful of other companies in the past, online you are competing with thousands, so you need to utilise all the online marketing tools to ensure your clients get to see your name and click on the link to visit your website.

The focus of link building is to get external sites that are in the same industry as you to link to a page on your website. Now as you may have guessed, this is not an easy task. How do you get someone else to direct their traffic to your website so you can benefit? With links of course. Links will navigate your customer and push them to your site to dramatically improve your website traffic and in turn, boost your online revenue moving forward.

As you probably have already imagined, link building is not a quick and easy task. In fact it is very time consuming and difficult, so unless you or one of your team have time on their hands, it is advisable to make use of the best link building service providers and get them to do the hard work for you. Not to mention, this is what they do every day, so they know what is needed to help you achieve online success.

That being said, it is imperative that any links to your website are of the highest quality and how do you determine this. Some sites are seen as more authoritative than others and search engines love authority websites. So you will need to find someone who has the experience to put your links onto these pages, so when they get traffic, you benefit as a result.

What you have probably figured out by now is that the best link building services are a major factor to Google rankings. Google, the leading search engine provider, relies heavily on links to enable their systems to crawl various websites and learn more about them. Which means that keywords, content and more is not really effective without superior quality links to appeal to Google and give them the opportunity to boost your ranking moving forward.

In addition to this, there is also the need for internal links. Now that you know about the best link building services to drive traffic to your website, you need to focus on making your website easy to navigate and provide an enjoyable experience for your clients. You want customers to stay on your site for as long as possible. The longer they stay the higher the chances that they will act, whether it’s contacting you with questions, making a purchase or calling you in to provide a service.

Internal links are links between the pages on your website. This means that you can redirect clients to your home page, your about us page and specific products and services to make their online experience that bit more enjoyable.

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How SEO Can Help You To Grow Your Business

The digital landscape has changed over the past few years. People are moving towards online searching for every basic need, this has increased the need for online marketing. By the term online marketing, the first thing that comes to the mind is SEO. It is an important marketing practice which can help a business to grow and help to generate maximum leads through digital mode. SEO services are very important for every business, as it is known as a great marketing tool for your brand.

Here Are Some Points Which Can Help You To Understand The Benefits Of SEO:

Increase New Visitors: A top position on the search result page mostly receives the majority of new clicks and impressions. People usually select from the first page keywords rather than the rest of the pages. So, the ranking of your keywords on the first page can help you to generate the traffic on your website and help you to increase your ROI.
Helps In Brand Awareness: SEO helps your brand to grow fruitfully as being on a first page for your targeted keywords helps users to associate with your brand, and companies because the top page generally receives more trustworthy response from the customers. SEO not only helps you to increase your ROI, but it also provides you the branding benefits and helps you to grow your brand.
Long Lasting Results: SEO is a very cost-effective practice. Once you start doing the right SEO for your company you will get to know that their results are long-lasting for the growth of your business. Also, it will help you to welcome new visitor on your website for a really long time. SEO helps you to stay on the top ranking for a long time without spending lot money regularly.
Beat Your Competition: Optimized websites are easy to load and faster, which is the quickest way to dissolve your competition. The most users generally stay on the website which is easy to load and doesn’t want to waste their time on the heavy loading websites. SEO makes your website optimized and makes it run smoothly and load quickly, which helps you to generate more traffic to your website and increase your sale.
These are some of the great benefits of SEO which helps you to understand the need of it for the better ranking of your website that also increases your company ROI in the near future.

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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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