Facebook’s Push to Make Money Off WhatsApp: A Mobile Payment


©iStock/gutaper

Facebook has been seeking ways to make money from the messaging service WhatsApp and has been testing payments via the app since last year in India, WhatsApp’s largest market with more than 200 million users.

Where will the rollout start?  Facebook intends to drive a global expansion of mobile payments on WhatsApp from London, accelerating its efforts to make money off the popular messaging service.  They are dispatching engineers from Britain to support its initiative.

Read more about how Facebook is plotting a global expansion of mobile payments on WhatsApp.

25 Payment Tools for Small Businesses, Freelancers and Startups


05/13/2019
Smart companies are not just those that have intelligent leaders. They also have systems, tools and proper planning in place that allow every department or function to run together seamlessly. To become a smart company, you need to integrate smart ideas into every facet of your business. Here are some tips from members of the online small business community.

Manage Your Website Effectively
Your website is one of the most important tools your small business has. To manage it effectively, you need access to the right tools. In this WP Buffs post, Brenda Barron provides a full explanation and walk-through of GoDaddy Pro, so you can see if it may be helpful for your business.

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05/10/2019
SBDC Centers offer free consulting and free or low-cost training. (Find yours here.) Their results speak for themselves: SBDC clients grow sales by an average 18.1%, which is 4.3 times the national average. March 20th is SBDC Day, and to celebrate, we assembled some tips from their experts.

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05/08/2019
Small businesses can be more vulnerable to cyberattacks than larger companies because they often do not have sophisticated and comprehensive systems to protect themselves from hackers, viruses, malware and whats called ransomware. And owners who are focused on customers and employees may not ensure that their defenses are up to date.

But there are things small businesses can do to improve cybersecurity.

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05/06/2019
Whether you are an entrepreneur plotting to launch a startup or a CEO strategizing where to put another office, knowing where the next hot city is would be a game changer. Should you expand to Raleigh? Would you attract better talent in Austin or Atlanta? With the new Surge Cities Index, Inc. and innovation policy company Startup Genome crunched the data to score and rank the top 50 metro areas in the U.S. on seven key indicators–from early-stage funding metrics to job creation. Finally, here’s the smartest way to answer the age-old question: Where should you go next?

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05/03/2019
We are creatures of habit. Everything we think, say and do is a result of deep-seated habits etched into our minds through years and years of repitious behavior. Those very same habits either help to propel us forward or to hinder our progress in life. In fact, the state and quality of our lives right now is a direct reflection of our daily habits.

Habits are an undeniably powerful part of life.

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05/01/2019
Big companies often have big perks. That is especially true in the technology Opens a New Window.  space, where free meals, gyms, and even day care are quite common. Even more traditional large companies that do not offer those kinds of benefits still have things that smaller businesses Opens a New Window. do not — there are more opportunities for advancement, more training opportunities, and maybe even the option of transferring to another location.

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04/29/2019
The latest report from Clutch says 39% of small businesses will add sales and marketing employees.

This data point underscores the importance of sales and marketing in today’s digital commerce. You must optimize websites, social media channels and eCommerce sites to make it happen. And you need sales and marketing employees to do  the heavy lifting.

Some small businesses have already created a digital presence. And the job of sales and marketing generally goes to in-house staff. This job often goes to employees with the necessary skill sets or to someone learning on the job. But remember how important these positions figure in the company’s growth.

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04/26/2019
Billing your customers is, of course, vital — but even more critical is getting paid for those bills. Thanks to the ongoing evolution in the payments industry, there are more payment tools and platforms to choose from to help find the perfect option for your business based on how many payments you receive, the type of business you have and your budget.

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04/24/2019
Ever wonder how people get chosen to speak at TED? Well, it is curator Chris Andersons job to weed through the thousands upon thousands of possibilities and choose who will appear on the events prestigious main stage. Clearly, the guy is amazing at separating the wheat from the intellectual chaff.

Which is why TED fans (or anyone looking to make themselves smarter and more aware in easily digestible 20-minute chunks) should pay attention to Andersons picks for the 10 best TED talks of 2018. Touching on topics ranging from astronomy to social justice to artificial intelligence, they are guaranteed to change how you think about the world.  

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04/22/2019
Switching careers can feel intimidating, but you have got to make some moves if you’re spinning your wheels at your current job. Tech industry jobs are hot right now, and you can make great money once you’ve got the know-how to compete with other tech candidates. Here’s a breakdown of the fields with the best opportunities.

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04/19/2019
What is the best retirement plan for a self-employed person? Which is the best retirement plan for a small business owner? More importantly, which is the right retirement plan for you – as a business owner and / or a self-employed individual? Choosing the best retirement plan for you and your personal financial goals will depend on a few factors. Those include how much you can save into a retirement plan, whether or not you have employees and when you are setting up the retirement plan. Is it during the tax year or when filing taxes? To name a few.

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04/17/2019
Here are 15 examples of great integrated marketing campaigns that work by combining content, digital and website marketing, with traditional marketing methods like PR.

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04/15/2019
Here are three popular things that are actually not mandatory for all small businesses:

1. Aggressive Marketing

It is easy to go overboard with marketing. With so many tools available, your gut instinct is to try anything with the slightest potential. Even if you stand to lose money, you want the assurance of knowing you are doing everything you can to gain the interest of your target audience. And it is difficult to ignore a marketing tool that has worked marvelously for other small businesses. If they had to do it all over again, these businesses would likely spend 10% of their time developing their products or services and 90% marketing them.

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04/12/2019
So what sets those who actually take the plunge from those who only dream? What pushes a keen hobbyist or excellent amateur into actually becoming a business owner? A recent study of more than 400,000 people out of MIT came to decisive answer, and it is not the one you are probably expecting.

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04/10/2019
Many successful entrepreneurs were inspired to start their businesses after noticing a hole in the marketplace that needed to be filled, whether it was Bill Gates creating an operating system for home computers, Pierre Omidyar starting an online auction site, or Elon Musk building a reliable electric car.

But what happens when you want to jump feet first into a marketplace thats already crowded? We spoke to the entrepreneurs behind a wide-ranging group of successful companies in some of the most competitive digital spaces — from butchers to home brands to eco-friendly cleaning products — to get their insights into what makes a business that lasts.

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04/08/2019
Today, tens of thousands of people are considering starting their own business, and for good reasons. On average, people can expect to have two and three careers during their work life. Those leaving one career often think about their second or third career move being one they can run out of their own home. The good news: Starting a home-based business is within the reach of almost anyone who wants to take a risk and work hard, as are a plethora of other low-cost ideas.

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04/06/2019
Now, I do not want to burst any happy bubbles for those of you who are already treading the traditional pathway, but that traditional narrative no longer makes much sense, because over the past two decades, big corporations, big academia, and big corporatist government have rigged the business world so that the longer you wait to start your own company, the less likely you are to be successful.

Because of this, young entrepreneurs (Mil

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04/04/2019
The Tax Cuts and Jobs Act (TCJA) included a bevy of changes that will affect the 2018 federal income tax returns of many small and medium-sized businesses and their owners. As tax return time approaches, here are the 10 changes that are most likely to affect your business or you as an owner.

1. New flat 21% tax rate for corporations
Before the TCJA, C corporations paid graduated federal income tax rates of 15%, 25%, 34%, and 35%. Personal service corporations (PSCs) paid a flat 35% rate. For tax years beginning in 2018 and beyond, the TCJA establishes a flat 21% corporate rate, and that beneficial rate applies to PSCs too. So the tax cost of doing business as a profitable C corporation is greatly reduced, and this favorable development will show up on 2018 corporate returns. Enjoy.

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04/02/2018
When done correctly, a tagline can become synonymous with a brand. A good tagline should communicate your companys message quickly and effectively, helping your target customers understand how you can help them in a way that’s easy to remember.

Since it is something that will likely appear in all of your companys marketing materials and may stick with you for years, your team should put a lot of care and consideration into crafting your tagline.

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03/29/2019
A business plan is a written description of your business future, a document that tells what you plan to do and how you plan to do it. If you jot down a paragraph on the back of an envelope describing your business strategy, you have written a plan, or at least the germ of one.

Business plans are inherently strategic. You start here, today, with certain resources and abilities.

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03/27/2019
Very few entrepreneurs have an accounting or finance background. Here are four tips to ensure your small business is achieving profitable growth.

Most small business owners start their own business because they have a passion for something, a new idea, want to be their own boss or are seeking more financial stability and/or earning potential. However, very few entrepreneurs have an accounting or finance background.

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03/25/2019
The standards for small business success have unquestionably gone up. Todays small businesses must do a lot more to stay competitive than their predecessors. Myriad businesses, however, take this notion a bit too far. Once they discover yet another resource or strategy with the potential to elevate their success, they jump all over it. This is partially due to the many online articles urging business leaders to devote more effort to virtually every element of their businesses.

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03/22/2019
Many small businesses start out with a single location or product offering and grow over time. Expanding your business is a good way to increase your long-term profitability and reach a wider audience.

But while growing your venture might be something you’d like to do eventually, now might not be the ideal time to dive in. Here are four reasons you might choose not to grow your business, and instead stick with the status quo.

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03/20/2019
Get out your pink paint. Or your coral, or yellow or teal. By the time you finish reading this column, you’re going to be painting one wall of your small business a color that will pop on Instagram.

Why? Because Instagram is today’s powerhouse social media site for consumer businesses. And if you give customers an inviting way to post to Instagram, they’ll advertise your business for free.

A few years ago, if you wanted to reach retail consumers, the social media site of choice was Facebook. While it may still work for reaching certain demographics, many consumers – especially female Millennials – love Instagram.

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03/18/2019
A new report is saying that almost half of people recently hired (41%) used an online job board to find work and 61% flagged automatic job alerts as helpful. What is more, a full 14% found their present job using social media. The findings from How Do People Find Jobs? published by the B2B research firm, Clutch, highlights how today’s candidates are connecting with small businesses and vice versa.

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03/15/2019
How did life lead you to entrepreneurship?

I have been in the technology industry for 25 years. I am a business-facing technologist, which basically means I have a background in finance and business. However, I stumbled into being a software engineer early on in my career. This resulted in a passion for data and solution creativity.After hitting the 20-year mark of working for enterprise-size organizations, I decided I needed a change. I experienced some life-threatening health challenges–all while taking care of my two sons with their own unique needs. A culmination of it all really made me stop and reflect on what I really wanted to do on a daily basis and the people I do it with.

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03/13/2019
Step 1: Set meaningful goals.
People do nott achieve goals unless the goals are meaningful to them. Sure, every seller has a quota for this year, but so what? If you want to maximize your motivation to achieve the goals, you must know why achieving it is important to you. To do that, go beyond your one-year quota-focused goal.

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03/11/2019
Are you making big changes to your small business?

Whether you’re entering a new market, eliminating services that your clients love but no longer work for you, or changing the structure of your business entirely, follow these three tips to shake up your small business without losing revenue or hurting your reputation.

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03/08/2019
Most working class Americans are employed by companies that either require or offer retirement savings options in the form of a 401(k), 403b), or pension plan. Because these contributions are automatically deducted from the employee’s paycheck, saving for retirement tends to be a rather painless process. Over time, the cumulative effect of regular monthly contributions leads to a nice sized nest egg that can be used in the retirement years.

But for entrepreneurs, the story is a little different. With no steady paycheck or employer-sponsored plans, many of these hardworking individuals forgo retirement contributions.  And though it may not seem like a big deal in the early years, this misstep can prove to be dangerous and irresponsible as entrepreneurs age.

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03/06/2019
Crowdfunding has become a viable form for funding a venture, project, cause, event and much more. For small businesses looking to bypass traditional sources of financing such as bank loans, angel investing or venture capital, it is now a great option.

If you have been thinking about starting a campaign, it is important to note there are different types of crowdfunding. And this does not mean the platform or portal such as Kickstarter, Indiegogo and others.

The confusion stems from clumping crowdfunding under one umbrella, when in reality there are different types or models. Depending on your project, choosing the right model for your small business is critically important to ensure the success of your campaign.

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03/04/2019
Being a leader can be a difficult, and sometimes thankless, job. You work long hours, make tough decisions, and try your best to make your employees and your customers happy. But things don’t always work out the way you hope.

Every leader can use a bit of inspiration and humor every once in a while. Adding some fun to your day can make it all come together and, at the same time, perhaps even put a smile on your face.

The next time you feel down, here are 17 funny leadership quotes to perk you up.

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03/01/2019
Procrastination is an odd compulsion. Everyone has experienced it, but the underlying reasons can be tough to pin down.

After all, procrastination delays the very activities that bring people closer to their goals — whether that is building a thriving business or stronger triceps. So why do not humans just sprint toward that brighter, fitter future?

The science.
Scientific studies of procrastination have spiked over the past 20 years. Researchers once considered the issue a basic time-management problem, but they now view it as a complex and highly individual phenomena.  

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02/27/2019
Not every step you take to move your business forward will be a big one. But sometimes, even small steps can make a large impact on your future. Here are some recent tips and insights from members of the online small business community about big and small steps you can take to really make an impact on your business.

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02/25/2019
Like departments and agencies throughout government, the Air Force is tuning its acquisition methods to get closer the speed of technology, and will be holding its first live pitch day in March, with an available funding pool of $40 million.

The Air Forces Small Business Innovation Research program has issued a call to start-ups and small businesses—those with fewer than 500 employees—to offer pitches on innovative technologies for secure communications, down-range battlefield operations and digital technologies.

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02/22/2019
I am pleased to bring you my top five tricks for disconnecting – and at least temporarily escaping the job stress.

1. Make the business case.

Taking time to recharge is not just good for your mental and physical health — it is the smart thing to do for your business. Studies have shown that increased stress leads to reduced productivity, while decreased stress levels lead to increased productivity.

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U.S. Bank Subsidiary Backs Out of Handling CBD Payment Processing

Hemp and CBD are legal but not yet legal enough for risk-adverse bankers.

3 min read

Brought to you by Green Market Report

The CBD industry has been moving full steam ahead in 2019, bolstered by the 2018 Farm Bill and advancements on the federal level to ensure cannabis banking services, but that progress hasn’t been enough for some financial services institutions to continue working with the industry.

On March 14, 2019, Elavon, a payment processing subsidiary of U.S. Bank, notified its hemp and CBD clients that it had recategorized hemp and cannabidiol-based merchants as a prohibited business type and that accounts for such merchants would be closed within 45 days.  

“After several months supporting this merchant segment, it has become clear that the pace of an evolving Federal and State regulatory framework makes it extremely difficult to validate the qualifications required to operate within this industry,” said Elavon in an email to its hemp and CBD clients.

Related: Cannabis Banking Bill Wins Approval in Crucial House Committee

As an Elavon partner, FINCANN, a cannabis banking financial network, received Elavon’s notice and began sourcing solutions for its clients at once.

“We immediately reviewed remaining available options and within 24 hours had viable USA-based excellent alternatives available,” said Nathaniel Gurien, founder and CEO of FINCANN. “Since Elavon is not terminating their existing portfolio of CBD merchants until May 15, some merchants opted to immediately apply to one of our alternatives, others decided to wait and see until at least mid-April.”

Elavon isn’t the only merchant services provider rethinking its hemp and CBD clients. On March 19, Cannovia, a maker of CBD-infused products, was notified by Stripe that its account would be terminated. Having just launched its online storefront on March 14, Cannovia attempted to appeal Stripe’s decision but was denied.

Related: Your Cannabis Company Can Get a Bank Account but Not Easily

“Prior to the notification of the merchant services cancellation, we were not fully aware of the limitations of the banking industry to support the needs of the CBD industry,” said Brian Baum, the CEO of Cannovia.

With both Stripe and Elavon out of the picture, Cannovia soon learned that finding a merchant services provider on its own wouldn’t be easy.

According to Baum, “What became clear was that the options were limited and any banks willing to consider supporting the industry were beginning to utilize the services of intermediaries such as FINCANN to assist them in managing the sheer volume of entities looking for merchant services solutions.”

Linking up with FINCANN to secure a new merchant services provider allowed Cannovia to remain operational and avoid any major interruptions.

Related: With Democrats in Control, House Looks at Ending Cannabis Banking Restrictions

Meanwhile, both financial institutions and industry stakeholders continue to keep an eye on the SAFE Banking Act, which would provide certain protections for depository institutions that work with cannabis-related businesses as well as the businesses themselves. The House Committee on Financial Services is currently drafting a report on the act to present to the House of Representatives. If the full House approves the bill, the Senate will vote on it.   

“If the SAFE Banking Act overcomes its estimated 40% likelihood of passing the Senate, it will only encourage banks currently contemplating ‘dipping their feet into the water’ to ‘take the plunge,’” Gurien said. Once financial institutions take the plunge, legal cannabis-related businesses will be able to bank just like any other legal business.

This article was first reported in Green Market Report, a content partner of Green Entrepreneur.

Why These eCommerce Payment Mistakes Could Harm Your Sales

By Tom Butcher

It’s too often assumed that if you can direct traffic to your eCommerce store, then sales will naturally follow.

No matter how much energy you put into your search engine optimization or PPC strategies, this is only part of the task of boosting your sales. Once traffic has reached your eCommerce store, you need to give your audience a reason to stay and convert into paying customers.

If you’re struggling to boost your conversion rate, you might have fallen prey to a number of eCommerce payment mistakes. Do any of these sound familiar?

Enforcing Checkout Registration

Customers can be instantly put off when they reach a barrier in the checkout process, telling them that they absolutely must register a full account with your eCommerce store before proceeding with the purchase.

Modern consumers demand easier and quicker checkout processes, and if they sense that it’s going to be a lengthy affair, then they’ll be likely to abandon their basket.

With data protection standing as a prominent issue these days, it’s important to be aware of your target customers’ concerns. Many would prefer to just pay for their goods without having to hand over extra details and have a permanent account made on your system.

Instead, you should give your customers the option to carry out the transaction through a guest checkout, simply putting their email in for order update purposes.

Keeping Checkout Progress a Secret

From hitting “checkout” to the final purchase confirmation, the online purchasing process can be very long and many customers will feel like it’s never going to end.

Creating an account, entering card details, billing address and separate delivery address, popping in any extra messages to the packers or delivery drivers, reviewing their order – it’s a lengthy procedure. Some customers will get tired of filling out field after field, unsure when it will ever stop. They decide it’s not worth the hassle and leave your eCommerce store.

Nip this issue in the bud by setting up a progress bar at the checkout. This will allow customers to clearly see how far they’ve come and how many more steps they need to go through, giving them that extra nudge of motivation to power through the transaction.

Too Few Payment Options

Depending on your product range and your target customer, you may need to go beyond support for some of the more obvious, major credit and debit cards.

Many consumers have moved beyond the confines of Visa, MasterCard, and Maestro, and into the arms of PayPal, Google Pay, and even obscure cryptocurrencies like Bitcoin.

Investigate the payment preferences of your particular audience and be sure to bolster your eCommerce store with the functionality to process these newer methods.

Undisclosed Delivery Charges

When you monitor your site analytics, have you noticed that a sizable portion of your potential clientele exit your website right before they are urged to make payment? Have you wondered what has influenced them to do this?

Three words: unexpected delivery costs.

Many online shoppers become irritated when they reach the payment stage and are suddenly met with pricey shipping charges. In fact, a shocking 70% of shoppers abandon their baskets for this very reason. They may feel somewhat deceived, lured in with a lower cost but with a catch at the last minute.

Steer clear of this by employing transparent pricing that includes shipping costs from the outset.

Customers will always know how much they’re being charged when they’re adding items to their baskets, and will be more likely to follow through with payment if there are no nasty surprises awaiting them at the end.

Don’t Make These Mistakes!

eCommerce entrepreneurs, big and small, are all prone to making some of these simple but harmful mistakes. Be open with your potential audience and research how you can best serve their purchasing needs and wants. This will build trust and streamline the payment process, boosting your conversion rates.

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Tom Butcher
Tom Butcher is a freelance writer who recently escaped the world of print journalism. He covers a wide range of topics, including business, motoring and digital. He is currently working with CardSwitcher, the UK’s first payment processing comparison website, to educate the world about merchant services, payment technology, and all sorts of other things.