Learn how to sell your structured settlement payments with this friendly guide. Explore reasons to sell, the pros and cons, and step-by-step instructions to make an informed financial decision and get the cash you need.
How to Sell Your Structured Settlement Payments: A Friendly Guide
Structured settlements are often a means of providing long-term financial security after a personal injury lawsuit or other compensation act. While they offer regular payments over time, life can bring unexpected expenses that may require immediate cash. If you find yourself in such a situation, you might consider selling your structured settlement payments. This article will guide you on how to go about it, including important things to consider, a simple table for your reference, and answers to common questions.
What Is a Structured Settlement?
Before we dive into the selling process, let’s briefly discuss what a structured settlement is. A structured settlement is a financial arrangement in which a claimant receives compensation through a series of payments over time, rather than a lump sum. This can be beneficial for managing expenses and providing ongoing financial support. Nonetheless, situations can evolve, and you might find yourself requiring urgent funds.
Reasons to Sell Your Structured Settlement Payments
There are many reasons you might decide to sell your structured settlement payments, including:
Immediate Cash Needs: Unexpected bills, medical expenses, or debt.
Investment Opportunities: You might have a chance to invest in something promising that requires a lump sum.
Starting a Business: Aspiring entrepreneurs may look to put their funds into a business venture.
Purchasing Real Estate: Investing in property or making a major purchase may necessitate a larger amount of cash on hand.
Pros and Cons of Selling Structured Settlement Payments
Like any financial decision, selling structured settlement payments has its benefits and drawbacks. Here’s a brief checklist to assist you in evaluating:
Pros:
Immediate Access to Cash: You can get a lump sum quickly.
Flexibility: Use the money however you see fit.
Potential for Investment: Put your money toward growth opportunities.
Cons:
Loss of Future Payments: Selling means you will not receive future payments.
Fees and Costs: The sale may involve fees that can cut into your cash amount.
Reduced Value: Typically, you won’t receive the full value of your payments.
How to Sell Your Structured Settlement Payments
Selling your structured settlement is not as complicated as it might seem, but it is essential to go through the correct steps to ensure a smooth transaction. Here’s a straightforward guide to follow:
Step 1: Evaluate Your Needs
Before making any decisions, take the time to assess your financial needs. Ask yourself:
How much cash do I need right now?
What are my financial goals?
Am I comfortable with giving up future payments?
Step 2: Research Buyers
Look for a reputable company or investor who buys structured settlement payments. To help you with this, consider the following criteria:
Reputation: Check their reviews on platforms like the Better Business Bureau (BBB).
Transparency: Ensure they communicate their process and fees.
Experience: Choose a company that specializes in structured settlement purchases.
Step 3: Get a Quote
Contact the buyer and request a quote based on your specific structured settlement payments. Most companies will evaluate the present value of your future payments.
Step 4: Understand the Terms
Once you receive an offer, make sure to read through the details thoroughly, including:
Payment amounts
Fees involved
Timeline for disbursement
Step 5: Go through Legal Requirements
Selling structured settlement payments involves legal procedures. The sale often requires court approval. An attorney can assist you in navigating this process, making sure that everything adheres to legal standards.
Step 6: Complete the Transaction
Once everything is in order and you’ve received court approval, you can finalize the sale. The purchaser will subsequently release your funds as per the agreed terms.
Example Table of a Structured Settlement Sale
Payment Plan
Monthly Payment
Total Payments
Offer to Buy
Final Amount After Fees
20 Years
$500
$120,000
$70,000
$68,000
10 Years
$1,000
$120,000
$85,000
$83,000
Lump Sum (immediate need)
N/A
N/A
$50,000
$48,000
Relevant Quotation
“Financial freedom is available to those who learn about it and work for it.” – Robert Kiyosaki
This quote resonates well within the context of selling structured settlement payments. Taking control of your finances involves making informed decisions that suit your current needs.
FAQs About Selling Structured Settlement Payments
1. Is it worth selling my structured settlement payments?
This depends on your circumstances. If you have immediate cash needs that outweigh the benefits of receiving future payments, it might be a viable choice.
2. Will I get the full value of my payments?
Typically, no. Buyers will offer you less than the total value of your payments due to factors like present value calculations and potential risks.
3. Is it necessary to hire a lawyer to sell my structured settlement payments?
While not always necessary, it is highly recommended to have a lawyer to help you navigate the legal aspects and ensure everything goes smoothly.
4. How long does the process take?
The timeline can vary. Once you agree to the terms, obtaining court approval may take anywhere from a few weeks to a couple of months.
5. Are there any tax implications when selling my structured settlement?
In the majority of cases, selling structured settlement payments is exempt from taxes. However, it is wise to consult a tax professional about your specific situation.
Conclusion
Selling your structured settlement payments can be a practical solution for obtaining the cash you need when life throws you curveballs. By following the steps outlined, understanding the pros and cons, and doing your research, you can make a financially sound decision that aligns with your needs. Remember, the key is to assess your situation carefully and choose a reputable buyer. Good luck on your financial journey!
Online payment refers to the exchange of electronic money through the Internet. These payments typically involve the transfer of monetary funds from a customer’s bank or debit or credit card account to a seller’s bank account in exchange for a product or service. These funds can come directly from the customer’s credit card or checking account, or from an online payment system linked to the buyer’s and seller’s bank accounts.
Here are the articles to explain, What is online payment? There are these types and benefits
Online payments use by buyers of goods and services as well as sellers of those goods and services. Several steps take place when funds transfer and receive, especially between two parties, often requiring different types of software to successfully facilitate the transaction.
Steps of online payment
Typical steps are as follows:
Making an Online Purchase:
The customer (buyer) provides the necessary information (debit or credit card, checking account information, etc.) to pay for goods or services. This data is then sent to the payment processing software or payment gateway.
Information encrypt:
The payment gateway encrypts payment details such as the customer’s name, address, and bank account information, which provides a level of security and makes it harder for this information to steal.
Verification of details:
After the transaction data is encrypted, the information is sent to the payment processor to ensure that the transaction is valid. Once the transfer verifies, the information is sent to the buyer’s and seller’s banks.
Funds Approved:
Assuming no red flags are raised by the payment gateway or processor, the bank authorizes the transaction. However, there are several reasons why either bank may not be able to approve the transaction:
Insufficient funds
Freeze account status
Invalid credit card number or expiration date
Transaction limit
The card has stood reported missing or swiped
The address does not match the card
Also, Invalid Card Code Verification (CCV)
Request Funds:
After the funds and corresponding transfer are approved, the payment processor requests that funds be sent from the buyer’s funding source to the seller’s bank account. Seller Receives Funds:
The fund’s transfer is complete and the purchase price has stood sent from the buyer to the seller.
Types of Online Payments
Credit Card:
This is a form of payment by which financial institutions lend money to cardholders, allowing them to purchase products and services online. Shopping with a credit card is a popular online payment method because buyers typically have little liability for fraudulent charges and most sellers accept it.
Debit Cards:
Use a debit card (sometimes called a check or bank card) to make online purchases, debiting the price directly from the user’s bank account. Similar to credit cards, where buyers are generally protected from unauthorized charges, debit cards are widely accepted online.
Third-Party Payment Services:
These online and mobile services help facilitate buyers and sellers sending and receiving payments online. After linking a bank account to a third-party payment service, transactions can often be made through phones, tablets, smartwatches, and apps.
Electronic Checks:
This form of online payment (sometimes called eChecks or ACH) debits cash from a checking account, eliminating the need for a buyer to write a paper check or a seller to deposit a check. Also, Electronic checks require the payer’s name, checking account routing and account number, and the payment amount.
Bank transfer:
A bank transfer is similar to the debit card method in that it transfers funds directly from one bank account to another. Unlike bank transfers, no physical debit card requirements, provide a faster and more secure method of payment.
Benefits of using online payments
Online payments offer many benefits to buyers and sellers, such as security, efficiency, convenience, and contactless options.
Security:
Online payment options use encryption to protect consumer information and ensure the safe transfer of data and funds from buyer to seller. These security protocols also reduce the chance of personal information standing stolen.
Efficiency:
Online payments are efficient because they are fast, sometimes instant, and have no constraints such as distance, time, or location.
Convenience:
Vendors that accept online payments are making it easy for their customers to pay for goods or services, improving the buying experience. If a supplier accepts credit card payments, customers can buy items on credit and pay later. Payments can also make at any time, anywhere without going to a bank or other financial institution.
Contactless option:
Contactless online payments allow buyers to pay for items simply by holding their smart device close to the terminal that processes the transaction and transfers the funds to the seller via the internet. Customers can also pay using a QR code or a one-time password (OTP), both of which require no human intervention.
Software for Facilitating Online Payments
Depending on the type of online payment method used, there are several categories of software that can benefit both buyers and sellers, which help facilitate the sending and receiving of funds for online purchases. What do you know about Payment Card Industry (PCI) Compliant or Compliance?
Payment Gateways:
Payment gateways automate payment transactions between shoppers and merchants, securely transmitting transaction information to banks. E-commerce businesses rely on payment gateways to protect customer information through encryption and ensure their information travels securely from the customer to the merchant to the payment processor.
Payment Processing Software:
Payment processing software provides businesses with the means to process many types of business-to-business (B2B) payments. Also, Companies use this type of software to manage payments received from business customers and paid to suppliers.
Installment Payment Software:
Installment payment software helps businesses offer their customers the option to purchase items over time through a set number of recurring payments.
Payment Analytics Software:
Payment analytics software tracks online payments for e-commerce or subscription-based companies. Also, This type of software consolidates payment data from multiple sources to monitor customer prices.
Payment Card Issuance Software:
Payment card issuance software helps industries and financial institutions generate physical and also virtual payment cards. While banks issue payment cards for their customers, companies use such software to generate cards for their employees.
What is online payment? There are these types and benefits; Photo by Karolina Grabowska from Pexels.
Payment Card Industry (PCI) Compliant or Compliance, originally known as Payment Card Industry Data Security Standard (PCI DSS) Compliance, is a self-regulatory industry code of conduct administered by the Payment Card Industry Security Standards Council. PCI compliance requires organizations that process branded credit cards under major credit card programs to securely accept, store, process, and transmit cardholder data.
Here are the articles to explain, What is Payment Card Industry (PCI) Compliant and Compliance? Levels and Requirements
Companies need to discover sensitive data stored, transmitted, or processed in their systems and protect it from unauthorized access to comply with PCI. Sensitive data discovery software makes it easier to locate this sensitive data and helps companies put in place measures to prevent hackers from accessing it.
Organizations need the following to be PCI compliant:
12 General Requirements for PCI Compliance
78 Essential Requirements Based on Your Business
Four hundred testing procedures to ensure your organization is PCI compliant (depending on your business)
PCI compliance regulations keep customers and businesses safe from data breaches. It applies to all businesses that carry credit card information and is the cornerstone of every organization’s security protocols.
The PCI standard has expanded its outline to include encrypted Internet transactions and added new rules and regulations to accommodate the latest advances in payments technology and commerce.
PCI compliance level
The four PCI compliance levels determine the number of transactions a merchant processes each year.
1 Tier: Merchants that process more than 6 million card transactions per year.
2 Tier: Merchants processing 1 to 6 million card transactions per year.
3 Tier: Merchants processing 20,000 to 1 million card transactions per year.
4 Tier: Merchants processing fewer than 20,000 card transactions per year.
For PCI Compliance Level 1 organizations, achieving Payment Card Industry (PCI) Compliant and compliance include performing an external audit by a Qualified Security Assessor (QSA) or Internal Security Assessor (ISA). A QSA or ISA conducts an on-site assessment to:
Validate the scope of the assessment
Review technical information and documentation,
Determining Compliance with PCI Requirements
Provide guidance and support during the compliance process
Evaluate compensating controls
Following a successful assessment, a qualified security assessor demonstrates compliance by submitting a Report of Compliance (RoC) to the organization’s operating bank.
PCI Compliance Level 2 organizations should also complete the RoC.
Level 2 to 4 organizations can complete a self-assessment questionnaire instead of an external audit to determine compliance.
Benefits of Payment Card Industry (PCI) DSS Compliant
PCI DSS compliance provides a set of regulations and requirements to ensure optimal data confidentiality and security.
Some of the benefits of being PCI DSS compliant are:
PCI DSS compliance ensures multiple layers of security for corporate assets.
It gathers ever-changing threats and attacks vectors to make the data environment more secure.
It DSS involves setting up firewalls, SIEM systems, and other security infrastructure to gather threat intelligence when anomalies occur.
PCI compliance’s emphasis on encryption of cardholder data makes PCI DSS-compliant businesses less valuable targets for cybercriminals.
PCI compliance principles focus on protecting cardholder data while it is stored or in transit. It emphasizes the implementation of PCI principles with an appropriate security infrastructure to help organizations prevent data breaches.
PCI DSS compliance builds and maintains customer trust in data security.
PCI compliance helps businesses meet industry-accepted standards for storing, processing, and transmitting cardholder information.
DSS compliance helps organizations comply with industry-accepted data security standards.
Also, PCI compliance requirements
PCI DSS compliance requirements focus on achieving PCI compliance and protecting cardholder data from unauthorized access.
Protect the corporate network with a firewall
Steps you can take to protect your network:
Configure firewalls to protect corporate networks and regulate incoming and outgoing traffic according to organizational standards.
Use hardware firewalls and software firewalls to protect your network.
Configure firewalls for inbound and outbound traffic. If an attacker breaks into the system, it will be difficult for them to export the stolen information due to outbound rules.
Avoid default passwords and configuration settings
To comply with the second requirement of PCI compliance:
Modify the default password to achieve system reinforcement and system configuration management.
Addresses all vulnerabilities in the system, remediates and reports them, and ensures system hardening standards comply with industry best practices.
System management software is a complete software package for monitoring, scanning, and configuring the device and system hardening options.
Also, Verify that system hardening standards are securely enforced as new devices and applications are introduced into the system environment.
Protect stored cardholder data from unauthorized access
Take the following steps to protect cardholder data from unauthorized access:
Cardholder data is encrypted using strong and industry-accepted encryption standards such as AES-256.
Ensure the system stores confidential cardholder details in an encrypted format.
Create and document a Cardholder Data (CHD) flowchart. It is a graphical representation of data flow within an organization.
Use sensitive data discovery tools to find sensitive information, such as social security numbers, in corporate systems to encrypt or delete.
Encrypted transmission of cardholder data across open public networks
Consider the following factors to encrypt cardholder data transmission across open or public networks:
Determine how and where data is transferred. Also, Track all regions sending similar details.
The transition from Secure Sockets Layer (SSL) and earlier versions of Transport Layer Security (TLS) to more secure versions of TLS.
Check gateways, terminal providers, service providers, and banks to see if they use newer encryption for transaction applications.
Use an updated version of antivirus software
Take the following actions to comply with the fifth PCI DSS requirement.
Use antivirus software and protect your system from known malware.
Update antivirus software regularly.
Gather information on emerging malware and the different ways it infiltrates your company’s systems.
Configure systems and design processes to alert of any malicious activity in the system environment.
Also, Run regular malware scans to make sure you have a process designed to enforce it.
Develop and maintain secure systems and applications
Practice the following methods to develop and maintain secure systems and applications:
Patch security holes with the latest patches released by the software provider.
Install the latest security updates and patch vulnerabilities in applications and systems critical to the card data flow.
Also, Install critical patches within a month of release to ensure compliance
Proactively manage and implement patches as they are released.
Limit access to cardholder data on a business need-to-know basis
Consider the following restrictions on access to cardholder data:
Ensure strict access control to cardholder data by implementing a role-based access control (RBAC) system that grants access to cardholder details on a need-to-know basis.
Also, Avoid creating group users or sharing common user accounts with other users. Tracking data breaches will be challenging. `
Assign a unique ID to each person with access to the computer
Take the following steps to comply with Requirement 8 of the PCI DSS requirements:
Assign each user with computer access a unique ID and create strong passwords to prevent unauthorized access.
Create multiple layers of security when securing user accounts.
Use a multi-factor authentication solution to provide an extra layer of defense and protect your systems from attackers.
Limit physical access to workplace and cardholder data
Important considerations for compliance with Title IX requirements of the PCI DSS:
Restrict employee access to areas where cardholder data is stored.
Document who has access to the secure environment and who needs access. Lists all authorized device users, locations where the device is not allowed, and where the device is currently located. Note, all applications can be accessed on the device. Document what, where, when, and why you use your equipment.
Distinguish between employees and guests in your organization and use methods to monitor who has access to your secure environment.
Make sure to remove users’ access and disable or return physical access mechanisms like keys and access cards when employees leave.
Track and monitor access to rework resources and cardholder data
Key points to consider when tracking and monitoring access to network resources and cardholder data:
Implement and maintain a logging system to view all logs and get alerted when anomalies occur.
Check system event logs at least once a day to identify patterns, gather threat intelligence, and detect behavior that contradicts expected trends.
Please follow the practices mentioned below to comply with the requirements of Article 11 of PCI DSS.
Conduct frequent vulnerability scans to determine whether security holes have been successfully patched.
Perform quarterly vulnerability scans of all external IPs and domains exposed in the cardholder data environment using a PCI Approved Scanning Vendor (ASV).
Conduct regular penetration testing to identify different ways hackers can exploit vulnerabilities to safely configure your security systems and protect data from similar malicious tactics. (Penetration testing frequency depends on your Self-Assessment Questionnaire (SAQ), environment, size, procedures, and other factors).
RISK ASSESSMENT AND DOCUMENTATION
Adopt the following practices to meet the final requirements of PCI DSS compliance:
Document all policies, procedures, and evidence related to the organization’s information security practices.
Also, Assess formal and annual risks to identify key threats, vulnerabilities, and associated risks.
What is Payment Card Industry (PCI) Compliant and Compliance? Levels and Requirements; Photo by Monstera from Pexels.
7 Best Online Payment Solution for Enterprise or eCommerce or Small Business; With the progress of the digital fee enterprise, there are several online price strategies brought for eCommerce organizations. The exponential increase of global groups requires credit and debit card payments and trade fee techniques; which include cashless transactions and commercial enterprise-to-business bills.
Here is the article to explain, 7 Best Online Payment Solution for Enterprise or eCommerce or Small Business!
Once a service provider establishes an e-commerce store; the next step is to installation a fee technique to deal with clients from across the border. For example, many customers use credit or debit cards to make online payments.
While that is the safest available alternative, some other online price strategies exist also relaxed and efficient. These are vital to your enterprise to flourish in global markets; because if human beings do now not use Visa or Mastercard, your enterprise will lose capability clients.
What Are the Types of Online Payment Methods?
Some of the maximum popular online charge strategies encompass credit score/debit card transactions, bank transfers, e-wallets, mobile payments, and so on. But what’s the fine price approach, and what must you select for your eCommerce keep? Please read below to find out about them in element.
Whether they’re buying from a computer browser or your mobile app; customers these days anticipate unique payment methods to feature in online stores; if you want to pick out the only one that fits that precise need. To be relevant to the widest target audience, you need to make sure your web page has talents to assist the ones to charge means which might be most famous online.
So if you’re casting an extensive internet and are targeting any of the four. Fifty-seven billion net customers global, your website list of payment techniques ought to consist of:
Credit and debit cards;
Credit cards continue to be one of the maximum popular choices globally for online purchases; although their marketplace share has been dented in recent years by eWallets. Worldwide, playing cards accounted for 41% of eCommerce transactions in 2018, with a clearer preference in longstanding eCommerce markets, along with Europe and the Americas.
Cards’ popularity as online fee techniques become constructed on the safety features presented – card transactions had been regulated for many years through global or regional compliance requirements and additionally with the aid of patron protections issued through price processors, together with the ones upheld via American Express, Mastercard, and Visa.
Credit cards have a slightly more marked desire in Western markets vs debit playing cards, given some of their additional capabilities. For example, some consumers incentivize to apply for credit cards to have to get admission to the bank’s reward applications. In the US, more so, credit card spending impacts the person’s credit scoring and serves as an additional motivation to opt for it as an online payment method.
Card’s declare to the number one spot in patron possibilities for eCommerce payment techniques has been seriously challenged in current years, as we’ll see going ahead.
Benefits of Credit or Debit Card Payments;
Credit or debit card transactions are some of the best online fee strategies due to the fact they may be secure and efficient. Internationally, credit scores and debit playing cards serve as a worldwide solution for all forms of online transactions.
Moreover, it is simple to use credit score cards as you only need to input the cardboard range, CVV, and the expiry date.
This is why everyone is familiar with making transactions thru credit cards.
They are also at ease due to the fact CVV compares the customer information to discover fraud.
Thus, with robust consumer protection, credit score playing cards have emerged as one of the maximum reliable online price techniques.
Besides credit score playing cards, debit cards are also famous for conducting eCommerce payments.
They are appropriate for clients who wish to make online transactions within a selected monetary restrict.
Thus, the primary difference between a credit score and a debit card is that in case you use a debit card; you can simplest make purchases from the money found in your account.
In the evaluation of this, credit playing cards use billing cycles. You charge at the top of every billing cycle. The billing cycle commonly stages from 28 to 31 days.
eWallets;
Also known as digital wallets, eWallets are one of the fastest-growing online price strategies in B2C eCommerce all around the international, projected to account for fifty% of global eCommerce sales by 2022. Some reviews are even locating that the usage of eWallets has overpassed that of playing cards closing year on a worldwide stage – in some markets, the Asia Pacific; for example, this online fee technique had a proportion of virtually 60% of transactions in 2019.
This opportunity fee technique works like a prepaid credit score account, and shops the patron’s facts and funds. When the usage an eWallet, the person now not have to enter his financial institution account details to complete the purchase, being redirected from the checkout to the eWallet’s page where they clearly ought to log in with their username and password to finish a purchase.
The maximum famous virtual wallets consist of PayPal (predominantly within the Western international), AliPay (popular within the Asia Pacific), ApplePay, GooglePay, WeChat, and Venmo. EWallets additionally work in mixture with mobile wallets, employing a phone’s biometric options; This is the best online payment solution, which assists the patron to authenticate faster for that reason finishing their bills quicker.
Bank transfers;
This online price approach involves the patron paying from their banking account with their budget. It perceives as having a further layer of safety, as transactions require authentication through the purchaser’s financial institution. When selected because the charge method is all through checkout; a bank switch redirects the consumer to their internet banking portal, wherein they have to log in and authorize the transaction.
Bank transfers accounted for 9% of world eCommerce transaction volumes last year, chosen in the main in Europe. Bank switch is one of the qualities online fee strategies due to greater security. The financial institution handiest approves the transaction as soon as the customer authenticates it.
Bank transfers are important online payment methods for eCommerce groups; because it’s miles a completely easy and clean way to make online purchases. Moreover, customers don’t even require cards for making bank transfers. Thus, it is convenient, safe, and dependable.
Buy now, pay later;
An online charge approach that has collected interest lately; and which has registered a 162% boom within the beyond two years is Buy Now, Pay Later. This is a form of on-the-spot lending which an increasing number of young clients are turning to, as Teen Vogue additionally reviews. When deciding on this feature, consumers have the option to pay later, through the years; while not having to open up a credit card for this. Availability of this feature at some stage in checkout has been pronounced to persuade 30% of more shoppers to finalize a buy they wouldn’t have otherwise.
While this alternative payment technique is still in its infancy, with simply over 1.5% of worldwide eCommerce transactions in 2019; its miles expect it’ll rise over the next three years. Credit or pay later is the best online payment solution; Some of the options for this payment method include Klarna, AfterPay, and Bread.
Prepaid playing cards;
Another alternative online fee method prepays playing cards, chosen the main by unbanked users or minors. Customers opt for a prepaid card from a fixed of predefined available values after; which they use the details on that card for online transactions.
Market penetration of pay as you go playing cards is presently at simply around 1% of all global eCommerce transactions, some of the maximum famous cards chosen with the aid of customers along with Paysafecard or Mint. Usage of this payment method extra market within the gaming industry pushed most probably via audience demographics.
Prepaid cards are a good alternative to credit and debit cards. These playing cards are extra like present cards that come with a stored value. You can pick out the card that fits your finances.
Besides this, you may also purchase a pay-as-you-go card to load your required amount to make online purchases. The saved foreign money is a form of digital forex. But, prepaid playing cards are nevertheless one of the less popular online price techniques. However, they may be gaining popularity for move-border payments.
Electronic exams or wallets;
The use of e-checks, a web payment technique regulated by using ACH, includes drawing money from a checking account. The consumer himself authorizes the price directly from his net bank account; and processing is just like that executed inside the case of regular paper tests, however quicker.
Electronic assessments are famous amongst American merchants with large income volumes; and, a high average quantity, and they’re perceived as a low-priced online payment approach. E-checks were the first Internet-based price utilized by the American Treasury for making huge online payments; which can explain their reputation on this class of customers.
E-wallets, additionally popularly known as digital wallets, provide clients with an advanced online payment approach. It requires the merchant and the purchaser to sign up. Once you create a digital wallet, you have to link your e-wallet account to your bank account to deposit or withdraw funds.
It is an effective fee method due to the fact customers can instantly make payments. You must offer your information to the e-pockets account. Once you save online, the e-pockets can routinely fill for your statistics on payment bureaucracy. You ought to input your password to activate the e-pockets to make immediate payments via your smartphone.
Mobile Payments;
With eCommerce becoming mainstream, many clients are looking for mobile-friendly online price techniques. Mobile payments are the best online payment solution, also called cell cash transfers or cellular wallets, are one such change fee approach. This price answer is green, dependable, and quick because you handiest ought to download the software program and hyperlink it to your credit card to make online purchases.
Oceanpayment, All-In-One Solution for Online Payments;
With the rise in eCommerce comes the call for handy and efficient charge techniques for making online transactions. In addition, the emergence of diverse apps, software, and global price processing services has made; it feasible for customers to apply trade fee methods.
Global charge services consisting of Oceanpayment are a one-forestall store for all forms of online transactions; because they provide many solutions for all styles of small and big-scale organizations. When you increase your enterprise to other international locations, your clients will purchase online.
This is where worldwide payments come into play. Global payments are also known as cross-border payments that your customers transfer from other united states of America. You want a credible price gateway processor to get hold of those worldwide bills. The price company you pick methods the customer’s charge and transfers it to your account.
Oceanpayment is one of the most reliable and cozy worldwide charge services that provide businesses with greater than 500 change charge strategies. This is important for your e-commerce business; because if the clients in worldwide markets do not use MasterCard or Visa; they’ll abandon their carts, ensuing in the ability loss of a purchaser.
In this situation, Oceanpayment will prevent losing your clients in international markets by imparting them with numerous online price strategies. You also do now not should partner with credit score card vendors for processing payments, as Oceanpayment will provide; you with the most convenient and simplified strategies for price collection.
Final Words;
With the emergence of various software and apps for making online transactions; the best online payment solution, you want to pick a comfy and reliable alternative in your eCommerce save. Unfortunately, many go-border bills result in facts breaches and theft. Therefore, you must companion up with an agency that guarantees safe price transfers.
Oceanpayment is a safe worldwide charge carrier that offers you end-to-cease encrypted fund transfers. Moreover, they use danger management steps to make sure that the payments aren’t fraudulent. If you want an all-in-one solution in your eCommerce bills; get in contact with this global payment provider through a phone name or contact shape.
7 Best Online Payment Solution for Small Business; Image by Mohamed Hassan from Pixabay.
Top 4 Online Payment Methods like Payoneer, PayPal, Stripe, and Amazon Pay for Small Business; As a service provider seeking to enter eCommerce or Small Business markets on unique geographic coordinates, one of the best demanding situations you face is knowing what the maximum used online charge techniques are. Knowing which Online Payment Methods for Small Business is first-rate for that marketplace is paramount, as buyers are 70% much more likely to finalize a buy if their favored payment method is displayed as an option. Sure, you’ll be aware of cards’ and PayPal’s reputation; but is your enterprise catering to the preferences of all audiences you’re concentrated on?
Here is the article to explain, Top 4 Online Payment Methods like Payoneer, PayPal, Stripe, and Amazon Pay for Small Business!
Hello everyone, in this era of digitalization today we are going to look at some of the most used and the top online payment methods used around the world. These are safe and secure to do international transactions as well. Let’s move over the satisfactory fee methods online and see if there are any you’re omitting.
1. Payoneer
Payoneer is an international payment service that allows people to transfer money around the world quickly and easily. The company functions as an alternative to PayPal; because it’s much easier for people outside of the United States to receive payments.
They have the lowest fees for international payments. Their services are also available on a variety of devices; so it’s easy to manage your account no matter where you are. They also have a subsidiary, Payoneer Card, which works as an alternative to credit cards for online purchases. The Payoneer card is a prepaid card that can be used at millions of locations, online, and it doesn’t require a bank account. There’s no need to open an account either. They provide free global debit cards that allow you to withdraw cash from any ATM in the world.
PayPal is the world’s most popular and accepted online payment system. Since its founding in 1998, PayPal has established itself as the standard for online money transfers. If you’re selling products online, it’s a no-brainer to accept PayPal. But did you know that more than a billion people worldwide have PayPal accounts? And it’s not just for online purchases – there are over 100 million active users who use the platform to send and receive money via their smartphones. Not only does PayPal offer free money transfers, but it can be used for internet purchases, personal payments, or business transactions among others.
The only drawback some users have faced while using PayPal is that they usually don’t have good exchange rates; Top online payment methods like PayPal. So while checking out on your local currency you might want to try other methods for accepting payments.
3. Stripe
Stripe is a web and mobile payments company that builds software for internet commerce. Stripe’s mission is to enable people to build businesses online. It has become the default way for many online businesses to accept payments, with over five million charging customers, tens of thousands of developers building on top of Stripe, and billions in aggregate annual transactions across more than 100 countries.
In addition to its standard functionality, Stripe offers additional tools and services that are valuable specifically for international use cases.
4. Amazon Pay
Amazon Pay is a simple, secure way to pay on Amazon.com and its trusted websites. Also, Amazon Pay lets you shop online, store your payment information, and checkout faster by using the same information you already have on file with Amazon for shipping addresses and credit cards. And because Amazon Pay doesn’t require entering or storing any of your payment information; it’s more convenient than ever to make purchases from your computer or mobile device (including Android devices). It’s even more amazing while shopping as refunds are super fast on Amazon Pay when compared to refunds by bank transfer or any other method.
Conclusion;
Hope you found the listicle informative. These are some of the most used payment methods around the world and these make transactions globally easier to do. So If you found this insightful consider sharing it with others.
Top 4 Online Payment Methods like Payoneer, PayPal, Stripe, and Amazon Pay for Small Business; Image by Megan Rexazin from Pixabay.
Print Pay Stubs in QuickBooks online paycheck for free; Printing paychecks or pay stubs is a powerful feature of QuickBooks that allows users to print or email pay stubs to the employees from the QuickBooks desktop. Before printing paychecks, you need to ensure that all the input details are correct. QuickBooks also facilitates you to print several paycheck and stubs at once or print one at a time.
Here is the article to explain, How to Print Pay Stubs in QuickBooks online free at One time?
There are several ways by which you can print your pay stubs in QuickBooks online for free.
By Using Paycheck List:
From the navigation bar, first, choose the employees.
Now carefully select the name of employees whom you want to paychecks.
Now from the employer’s page; you need to press on the Paycheck list> then tap on the “checks to pay”.
Now make a search for the Check number (if applicable any).
After that, use the drop-down arrow for selecting the Batch Action.
Now press on the print paycheck stubs free option to proceed.
By Using QuickBooks Desktop File Menu:
First, you need to visit the file menu, and then navigate to the print forms option.
Thereafter carefully input the range of the date which is supposed to be printed on the paycheck.
In case you want to filter by one employee, then navigate to the employee tab > after that use the drop-down for selecting the Employee option.
Now choose column, date, and pay stubs for print.
Navigate to the Preferences tab, then choose the information of the company and employee.
You can also print a global message on each pay stub by entering the information in the company message field.
Now click on the preview and print option.
Through Bill Payment Stubs:
Go to the File menu> print form> choose bill payment stubs.
Now scroll down the bill payment menu and choose “Credit card” or Check.
Then choose the appropriate bank/credit card account from the Account drop-down.
For listing the payment from a different date range, then you should carefully input the end and beginning dates.
Now choose the checks for which you want to bill payment stubs.
Once done, tap on the OK button to proceed.
Afterward, review the printer and the number of copies that you want to print. Then press the print option.
By Using Voucher Printing:
First, visit the menu bar >> then hit the Edit option.
Now from the drop-down list, you need to choose the preferences option.
Then click and select the payroll and employee option.
Under the company preferences tab, go to the payroll feature section and select full payroll.
Now proceed to the set preferences tab and select pay stub and voucher printing.
Afterward mark appropriate selection of the checkboxes that you wanted in paycheck vouchers & pay stubs, print section.
You can also input the company’s name by tapping on the Legal company name option.
By Using Paycheck:
First, you need to open the paycheck on the QuickBooks desktop and then navigate to the check option.
Now select the print icon and then tap on the pay stub.
You can also contact the QuickBooks assistance team for any help or issue regarding the paycheck printing from QuickBooks desktop by just dialing a 24/7 toll-free phone number.
How to Print Pay Stubs in QuickBooks online free at One time with a paycheck? Image by Peter Olexa from Pixabay.
Starbucks Mobile Payment Application App Case Study; Starbuck’s innovative value proposition includes a wide variety of mostly coffee-based menus along with other types of drinks that catered to a wide range of audiences; who are willing to pay top buck for the luxurious and relaxed interiors that are the perfect environment for socializing with friends and relax. Starbucks successfully created an aspirational brand that created highly loyal; and, delighted customers who repeatedly come to Starbucks for the unique experience it is offering. Do you study to learn: If Yes? Then read the lot. Let’s Study: The Case Study of the Starbucks Mobile Payment Application App.
How to achieve the SUCCESS of the Starbucks Mobile Payment Application App? So read the case, The Case Study of the Starbucks Mobile Payment Application.
Starbucks redefined the highly competitive coffee shop business and successfully created an uncontested market by turning the simple coffee drinking experience into a way of life experienced by drastically redefining the coffee shop environment by adding music, Wi-Fi, relaxed seating, and luxurious interiors. Till Starbucks disrupted the traditional coffee shop market most of the focus was on the price, location, and quality of coffee shops. Another important aspect that Starbucks focused on was the quality of customer service with an exclusive aim of maximum customer delight and they meticulously recruited; and, trained the best talent in the industry that has added huge value to their brand reputation.
Starbucks customers loaded more than $1.2 billion on its Starbucks app – that’s more money than some banks! The Starbucks app has strategically outcompeted mobile payment offerings from tech giants such as Apple and Google so far. The reason behind the app’s success is simple: Starbucks combined their gift card; and, loyalty programs into an app optimized for mobile payment. Instead of trying to keep payment exclusive to a particular phone or operating system or brand. The Starbucks mobile app is widely available on both iOS and Android, a Case Study. Automatically this opens up the potential market share and user base to everyone with a smartphone.
History:
The Starbucks coffee shop for the year has been successfully maintaining its dominant position in the market; although the market is becoming highly competitive with many players offering to offer similar products and services similar to Starbucks. Strong competition has also increased with fast-food chains such as McDonald’s and Dunkin Donuts; which now offer premium coffee, threatening the market share of established players. To capture its competitive advantage and to create a new value proposition for its customers; Starbucks has started focusing on information technology, mobility, and the use of social media in particular. What is the Growth Strategy for Case Study Starbucks?
App services:
Such an innovative price proposal by Starbucks is a mobile payment application. Starbucks launched its mobile card app in 16 stores at the beginning of 2009; and, after the adoption of the customer, Starbucks expanded it across the nation in the United States. The main feature of the app allows customers to scan 2D barcodes on their mobile device; and, use them as a store payment. The app is expanding Starbucks’s existing, tangible, prepaid reward cards for loyal customers.
The app market bases on its benefits in saving time and facilitating shopping for customers. Starbucks refers to the app as “the fastest way to pay”. With this app, customers can check their balance; reload the card with any major credit card or PayPal; see the transaction, and easily track your stars in the MSR (My Starbucks awards) Can, program. The advantages are speed for consumers and there is a low card in their pocket. Customers using the app can also find a mobile payment Starbucks near their location.
Payment Services:
The Starbucks mobile payment system is extremely successful base on the fact that in the US; the US $ 1.5 billion average weekly transactions that are responsible for a full 15% of the transaction make in US Starbucks-powered stores; many digital wallets Service providers are struggling according to BI Intelligence. The innovative mobile app has digital tipping options; the dashboard is showing current reward or loyalty points level; available points with current transactions, weeks of coffee selection, recent transactions, and messages.
Social Media:
The Starbucks mobile payment application can also integrate with social media sites like Facebook, Twitter, where customers can proudly show their reward level milestones with their friends and family. Important Case Study in Corporate Social Responsibility of Coffee Starbucks. This will further enhance their brand reputation and brand loyalty. By shaking the phone, customers can select the barcode of coffee; which they want to buy and want to pay accordingly. The app model on the social media site interface where customers can see the regular purchase of Starbucks coffee and reward-style history and award points in the timeline.
By developing mobile marketing programs it seems to present a further opportunity for Starbucks to fortify the targeted long-term relationships with its customers. Customers allow Starbucks to gain access to their mobile phones in exchange for improved experience and convenience. Thus, perceived benefits have to exceed perceived risks such as the safety of personal data; as well as, the security of financial transactions via mobile phones.
Markets:
Starbucks’ disruptive mobile strategy integrated its highly successful loyalty program called My Starbucks Rewards with payments by customers. Starbucks further incentivizes the customers who habitually buy and pay through the mobile app and more reward points are the award that is redeeming for free drinks and food. The app’s success is not due to the ease of payment with a phone compare to cash or debit or credit card but the fact the customer can see the incentives and rewards he is going to get that will further increase his loyalty with Starbucks. In a way, Starbucks is locking the customer for the near future. Starbucks loyalty program was diligently crafted over the years and it has been the best in the coffee shop industry or any other industry. Also, learn about – Market Research Coffee of “Starbucks” Entry into China.
With more than 12 million active users in the United States and Canada, Starbucks has added one more new feature where customers can preorder their coffee using the mobile app and pick up the coffee later. “A prime example of this is our forthcoming mobile order and pay initiative that will allow customers to use their phones and MSR (My Starbucks Rewards) accounts to order ahead of arriving at a store where we plan to pilot in a major U.S. market later this year,” said Howard Schultz, Starbucks CEO.
Customer Need:
Customers wanted this functionality of preorder through mobile for the past few years, particularly since the mobile-based cab hailing service Uber huge success. The Coffee company is able to offer this service right now as the company feels its technology and in-store operations are well equipping to handle such requests. Also, expanding the number of drive-through express service outlets that are the best suite for the preorder system. Starbucks is also, talking to partners and other businesses like retail outlets that will also allow the customers to use their mobile application payment system, rewards system, and loyalty programs in non-Starbucks outlets.
Through its mobile payment system Starbucks eliminated the need to carry cash, coin change issues, tipping problems, reduced the time spent on ordering and making coffee, understanding the menu and coffee types, offers and rewards available, raised the customer delight, loyalty and rewards, number of visits, new customers and created a new revenue source for the company, helped in acquiring new customers and also created a uncontested space in the digital wallet market.
Case Study of the Starbucks Mobile Payment Application App.
