Payza Wins Best Online Payment Method at the MPE 2017 Awards

2017 has only just begun and it’s already an exciting year for Payza. Wednesday night at the Merchant Payments Ecosystem Conference in Berlin, Payza was announced as the winner of the MPE 2017 Online Payment Method Award.

“2016 was a banner year for Payza,” said Firoz Patel, global executive vice president of Payza, who accepted the award on the company’s behalf. “The United Kingdom, for instance, saw over 150% year-over-year growth in terms of new merchant accounts. Overall, Payza saw 50% YOY growth in business signups and 225% growth in merchant payment volume. To be recognized as the best online payment method from among Europe’s leading providers is a credit to Payza’s continuing effort of providing local payment options to our users in Europe and across the globe.”

The MPE Awards, which celebrate and honor the achievements of companies and personalities across the European merchant payments ecosystem, selected Payza as the Online Payment Method Award winner based on its built-in fraud protection and state-of-the-art unique account security features, such as tokenized dynamic payment buttons, custom avatars and greeting messages, and Password and PIN protection; its flexible payment options, such as recurring subscription and split payments for marketplaces; and its hassle free integration that provides European merchants the choice to set their payment preferences based on the countries to which they are selling.

In addition to winning the Online Payment Method Award, Payza was also shortlisted for the Data Information Award, which recognizes achievements in using big data to improve the customer experience, decrease fraud, and increase profitability.

“Winning this award wouldn’t have been possible without the combined contributions of each and every Payza employee,” continued Patel. “From our amazing customer support staff, and our dedicated IT team and software engineers, to our merchant account managers, and our banking, fraud prevention, and account security teams, this achievement was the culmination of a full company effort.”

Payza’s staff has been growing rapidly to keep up with the increasing demand for the company’s services. That demand is a testament to the company’s focus on providing specialized local payment solutions for unique markets while offering an online platform where consumers and businesses in both developed and developing economies can participate.

With new offerings targeted at some of the fastest growing e-commerce markets in the world, including India, Brazil, and Bangladesh, Payza is poised for yet another breakout year.

Is Affiliate Marketing Right for You?

In most industries today, small business owners will find that e-commerce is the only true route to success. If you’ve already built your online business and are now struggling to turn a small but devoted customer base into a large and vocal fandom, maybe it’s time to recruit your customers to sell your product for you. If you’ve already come this far, maybe it’s time to look into affiliate marketing.

Affiliate marketing is often confused with multi-level marketing (MLM). In light of the recent Herbalife settlement, people are once again thinking of MLM as a bad word – just Google “MLM” and you’ll see that one of the first results is “Is multi-level marketing a pyramid scheme?” But that’s missing the point of the settlement, which we believe is actually a good thing for the industry.

In 2012 Bill Ackman, founder of Pershing Square Capital, a hedge fund, began a campaign against Herbalife, accusing the 35-year-old dieting supplement company of being a pyramid scheme. After a lengthy investigation, the company agreed to establish a $200M fund to reimburse distributors for lost wages and the Federal Trade Commission (FTC) found that Herbalife was operating legally.

This settlement is meaningful because, despite the fine, it reinforces that MLM is a fair and legitimate business model. In the words of Herbalife CEO Michael Johnson: “The settlements are an acknowledgement that our business model is sound and underscores our confidence in our ability to more forward successfully.”

While it shares superficial similarities with MLM, affiliate marketing is itself a distinct business model from both multi-level marketers and illegal pyramid schemes:

Pyramid schemes require that people pay to participate in the scheme and only profit when they recruit others to participate. The “product” is only redistribution of money pumped into the scheme: the business is built on recruitment. It’s a closed system and the money flows overwhelmingly toward the top. With no incentive to actually sell a product, those at the bottom of the pyramid eventually run out of new recruits and the pyramid collapses.

Multi-level marketing companies rely on the sale of real products for their cash flow. New recruits are brought on board and the company incentivises recruiters, but the profits at all levels still come from actual sales. Rather than profiting off fees charged to recruits, the company rewards recruiters with a percentage of profits based on sales. In other words, the product is everything.

Affiliate marketing is a single-tier system which rewards affiliates for each visitor or customer the affiliate directs to the business. The affiliate is not selling the product but is instead marketing the business and directing traffic to the company’s website.

Affiliate marketing is often overlooked by digital marketers. Though the methods are more or less identical – SEO, SEM, PPC, email campaigns, etc. – instead of coming from the business directly, the content is actually being promoted by a third-party “publisher” (the affiliate). This is a powerful tool for building trust in a brand; when somebody else speaks up for your product, it makes a greater impression on consumers than hearing it directly from the merchant.

The product is still everything, however. Some people get into affiliate marketing or MLMs because they seem like a solid, profitable business model, and then figure out what the “product” is later. But the medium is not the message. There is no product that is a poor fit for affiliate marketing as long as you’re doing it for the right reasons. Get your product right first – the best time to introduce affiliate marketing to your business is once you have a small but growing customer base, a group of potential brand ambassadors who can prove to you and others that you have a great product.

Affiliate marketing is not a “get-rich-quick scheme” and it’s certainly not a scam. It’s good business. If you know you have a great product and a great online business, affiliate marketing is right for you.
From the start, our mission has always been to provide freelancers, self-employed professionals, entrepreneurs and small business owners with convenient and affordable tools for growing their business. We believe in small business and want to do what we can to help improve the lives of your customers – check back often with the Payza blog for the latest tips and tricks on growing your online business, and be sure to follow us on: Facebook and Twitter

Disappearing Banknotes in India: Understanding the Terms Surrounding Digital Payments

Don’t know what are UPI, NPCI, IMPS, NEFT, or RTGS? Don’t worry, we can help!

The people of India are still adapting to the sudden demonetization of the 500 and 1000 rupee banknotes. Emerging from what experts have described as a “debacle” and utter “fiasco” in monetary policy, many Indians are frustrated by media reports that offer confusing information about India’s financial system.
To help bring some clarity to the situation, we wanted to go over some of the unclear terms in finance and digital payments that are common in media reports about demonetization.

What is UPI?

Unified Payments Interface (UPI) is a digital payment system network. Using an app on a smartphone, the UPI enables citizens to transfer money between bank accounts of 19 major Indian banks. In addition to simplifying and increasing access to many basic banking services, the UPI app lets a customer to transfer funds to the bank account of a merchant to make payments without the need to share private financial information.

The National Payments Corporation of India along with The Reserve Bank of India developed the app to encourage Indians to replace cash transactions with digital payments.

For more information, see this article about UPI and the related app in The Hindu: What is Unified Payment Interface?

What is IMPS?

Immediate Payment Service (IMPS) is a digital payment system network. IMPS enables the instant, digital transfer of funds between major banks.

Like the UPI, the IMPS platform makes it easy to digitally transfer funds between banks using mobile phones. Using this service, citizens can transfer funds whenever they please, even during off-hours and bank holidays.
The IMPS platform is managed by the National Payments Corporation of India and operates using the National Financial Switch network.

What is NEFT?

National Electronic Funds Transfer (NEFT) is the most extensive banking network in India to transfer funds digitally. This network provides a simple and cost-effective means to transfer funds throughout India and is popular for settling retail remittances. This banking service is available during business hours and closes for bank holidays.

What is NPCI?

National Payments Corporation of India (NPCI) is a non-profit organization that oversees all retail payment systems in India. The organization aims to offer all Indian citizens unrestricted access to digital payment services. Endorsed by the Reserve Bank of India, the NPCI is a leader in advancing India’s “cashless society” initiative.

What is RTGS?

Real-time gross settlement (RTGS) is a money transfer system within a country that enables the transfer of a high volume of funds between banks. Finance companies use this system to transfer money or securities instantly, where the funds are sent individually rather than bundles or batches that are mixed with other securities. The RTGS provides essential financial infrastructure for a country’s Central Bank and monetary system.

Do you know of other banking and finance terms we should add to our list? Would you like for us to explain the details of a digital payment system? Tell us in the comments section below.

Increasing your SEO Score for More Online Visibility

Here we provide a strategy to ensure your customers will find
your online business when conducting internet searches.

Search Engine Optimization (SEO), a fundamental component of website building and digital marketing, has been around long enough that we in the business already look back fondly at the “good old days” of SEO. Once upon a time, getting your website to rank was as simple as cramming enough keywords into a page, a practice that now has the opposite effect. These days, SEO is a complex set of best practices that is constantly being changed and updated, so keeping your website optimized can be a full-time job.

Before we go any further, to understand SEO we need to understand how search engines work. Basically, Google, Bing, etc. send robots all around the internet that “crawl” every website they can find. They pull all the data from these sites and, using a very large set of complex algorithms, attempt to identify which ones have the most valuable information for their users.

For example, when you type “e-commerce” into Google, it attempts to sort the search results in order of what you are most likely to find useful. The problem with this is that robots are not that good at deciding what is and isn’t useful to humans.

The practice of search engine optimization then is to find ways to tell those robots that your website is the one people are looking for. But this comes with a problem as well, which is that even poor or spam websites can still have good SEO, and so Google, etc. have to constantly improve their algorithms in order to filter out the sites that are trying to “trick” them into thinking they’re useful and return only the best possible results for their users.

So as search engines get smarter, SEO practices have to get more sophisticated. Let’s have a look at some of the key elements of SEO and how you can use them to increase your online visibility.

Terms you need to know

Keywords: Keywords are the terms or phrases browsers are searching for. Search engines catalog the keywords you’ve incorporated in your website and use them to rank your site appropriately in their results pages.
In-bound and out-bound links: Search engines consider how many other websites link to yours, as well as which websites you link to, to measure the legitimacy of your site. The quality of the in-bound and out-bound links will also influence your score.
UX: User experience is a broad category of its own which includes ease-of-use, intuitive navigation and quick loading times. Search engines consider how pleasurable it is to use a website when ranking them in their results pages.
Bounces: When someone clicks through to a site only to discover that it is not what they were looking for, they will hit “Back” to return to the results page. This is called a “bounce” and it signals to search engines that your site is not what visitors are looking for, so they will rank it lower in future search results.

Tips to get you on track

Don’t Get Comfortable

If you haven’t updated your SEO practices in the last year they’re at least partly out of date, but there’s another reason why you need to be constantly tweaking and maintaining your website. Search engines rank websites lower if they appear stagnant – if the content of your website is updated infrequently, it may do damage to your SEO score.

Understand Your Audience

The main function of SEO is to leverage keywords. By modifying the structure and content of your website, you can incorporate keywords that are relevant to your products and that your target market is using to search for similar products on the web. However, it’s important to focus on target keywords very specific to your potential audience. Popular search terms are a double-edged sword – avoid common keywords unless they’re definitely favored by your specific audience, otherwise you risk a high bounce rate.

Use Analytics

Analytics can help you keep it fresh. By keeping a watchful eye on your website analytics you can identify which of your SEO campaigns are performing well and how to deploy your resources most effectively. Pay attention to your bounce rates, paid vs. organic traffic, brand vs. non-brand keyword performance, and long-tail vs. short-tail traffic.Search engines also use analytics to identify the legitimacy of a website. If you can increase the average time your visitors spend on your website, search engines will see that as a vote of confidence that your website is indeed useful to their users.

Optimize Your Site

There are a few ways to optimize your site:

Pages more than three levels deep into your website are rarely going to be seen by a human being, so keep all the important information close to the surface. If users have to click more than twice from your homepage to get to the information they’re looking for, most of the time they will go looking for it somewhere else.
Trimming unnecessary pages from your site and eliminating duplicate content can increase your score since both of those are interpreted by search engines as spam.
Search engines consider loading times and broken links when ranking sites, so make sure your site is running smoothly at all times.

Leverage Marketing and Social Media

Good customer service never goes out of style – it’s even more important to the overall success of your business than SEO. In the age of social media, a bad review can spread like wildfire and severely impact your ability to reach new customers. Social media is a boon to SEO practitioners for its utility in link building, user-generated content and reputation management. Signals from social media, including the number of followers, community engagement and content sharing tells search engines that your brand and website are valuable to their users.
More traditional forms of marketing can be effective as well, such as email marketing, maintaining a local physical presence, and getting your business reviewed by popular blogs and news outlets.

We are far from the age of “If you build it they will come”, especially not in the crowded and competitive online retail industry. Search engine optimization is the key to standing out in this market –9 out of 10 consumers use search engines to make purchasing decisions, and SEO is the way to compete for their attention. If you have any further questions about implementing good SEO practices for your website, leave a comment below, and keep visiting the Payza Blog for more tips and tricks to help you get the most out of your e-commerce business.

Creating a Successful FinTech Company

The FinTech industry has grown exponentially over a relatively short period of time, and it shows no sign of stopping. Now, several young entrepreneurs are attempting to break into the FinTech industry. Their goal is to create an easier way to handle finances with technology and morph this way into an entire brand. However, not everyone goes about forming a new business the right way. Business owners must formulate a strategy that appeals to both potential funders of a company and a target market. The following are some questions to answer that will help you begin a successful FinTech brand.

What Is Your Niche?

Now that the FinTech industry is booming, there are hundreds if not thousands of companies trying to make money in the FinTech sphere. Therefore, you need to research the industry thoroughly. Figure out what people are doing well in the FinTech sphere, and what you can do better. Better yet, determine what FinTech customers are still looking for within the sphere. These tactics will give you the necessary knowledge to determine if your business is viable, and how to become a solution for your target market.

Is Your Idea Too Complicated?

FinTech is, obviously, a complicated technical sphere. However, the most successful companies are the ones that connect with the average user. This means being able to speak about your brand and product in simple terms. People are very set in their ways in terms of finances and banking; there are some who refuse to consider online money transfers as an option! Your potential users need to be able to understand how their money will be handled from start to finish.

Do You Have a Social Media Marketing Plan?

One of the biggest mistakes that new FinTech companies make is thinking they are outside the realm of normal entrepreneurial ventures. Even though FinTech is a relatively new industry, emerging FinTech companies should be treated on the marketing side like every other new business. This means having a social media strategy. You must build a community around your product through writing engaging content and interacting with users on social media. This is the most effective way to obtain customers.

How Will You Get People To Trust Your Company?

Having a niche, a marketing plan, and a simple business model is all helpful, but none of it will get you customers if your company is not deemed trustworthy. The easiest way to get people to trust your company is to partner with already-trusted influencers in the FinTech field. You can form a relationship with traditional banks, or connect with influencers and ask for their opinion and endorsement.  

Fintech Investments Soar

Since the start of the new year, entrepreneurs have been on edge. Venture capital seemed to be dwindling, which made business owners worry that any company they began would struggle to stay afloat. However, the past few months have shown that companies in the financial technology, or Fintech, sphere need not worry. Corporations and banks have been investing so much in Fintech startups that funding for said companies is higher than ever before.  

The amount of funding put into Fintech startups has doubled since 2015, reaching 13.8 billion dollars. Investments have stemmed mostly from the corporate sphere. Corporations invest in such startups in hopes to make their operations run more smoothly. Unfortunately, this increase in investments came at a cost. It surged because of stock performance by many Fintech startups that was lower than expected.

Therefore, banks and corporations all took part in deals for startups in order to expand their investment portfolios. One such bank is Citigroup, which is a well-known and established bank, that has thirteen startups in its investment portfolio. Other financial corporations backing several Fintech startups include Goldman Sachs and JPMorgan Chase. The investment in Fintech startups by banks and corporations is not just limited to the United States either. Corporations in Asia, for example, make up almost half of all investors in startups.

Investing in Fintech startups by financial corporations and banks bodes well for the future of finance all over the world. It shows a push in outdated financial institutions to adapt to modern times by incorporating new technology into their business models. It is paying off for customers already. Banks have developed applications for mobile devices that allow easier banking transactions, for example. Also, exchanging money digitally is as seamless as ever. Fintech innovation has even reached a point that stocks can be monitored and traded right from a technological device.

However, there is some uncertainty in Fintech startups, as they have become wary about the nature of the bank investments in their companies. They are, of course, thrilled that banks are dedicated to breaking into the digital age, but there is still a question as to whether or not the financial institutions will be good investors. Bank regulations are very limiting, and many such regulations prevent them from investing in innovative Fintech ventures.
Only time can tell how involved banks will be in Fintech startups in the future, but I hope they continue to take a large investing role. Moving all banking into the digital age is the only logical course of action in this day and age, and it has the ability to help everyone become more money-conscious.

The Trials of Being an Entrepreneur

The release of the most recent Star Wars film brings to mind the idea of the hero’s journey. The original Star Wars was predicated on Joseph Campbell’s Hero With a Thousand Faces, a work that explores the universal journey every human makes, be they Jedi’s, warriors, or even entrepreneurs. In the spirit of the hero’s journey, here’s a look at the trials and tribulations found in the journey of being an entrepreneur.

Doubt

Becoming an entrepreneur can be a daunting prospect. Self-doubt is one of the first and biggest barriers to overcome. It’s very easy to not believe in your capabilities, to say “this is impossible,” “I can’t do this,” and “I’m doing this wrong.” It’s not uncommon for self-doubt to linger even into the later stage of business of ownership. Trust that this is just a phase. As you gain more experience and confidence you will find that doubt, like a rainy day, will eventually pass.

Setting Forth

When you first start planning for your company, you may find yourself possessed by a new-found sense of purpose. Everything you put on paper may seem possible. You may feel yourself buoyed by an overwhelming sense of positive energy. This is good and, if harnessed, it will carry you far. But often this newfound sense of optimism flees at the first sign of trouble. If that does happen, don’t worry. Just keep pushing onward.

Tests

When it rains, it pours. Entrepreneurship is a very demanding pursuit, and the challenges of it should not be underestimated. You will find yourself short on cash, needing to fill positions, missing projected goals and seeing the rise of major competition. During this time, it is completely natural to feel concerned, but you must try to channel this frustration into overcoming the obstacles that you face.

Confidence

Rest assured, after spending several months of slogging through your first venture or after moving on to your third, you’ll eventually get the swing of things. You’ll be better able to take on any challenges that come your way, more smoothly negotiate with employees and investors, and crunch the numbers to get you where you need to be.

Defeat

Even the most successful entrepreneurs face defeat at some point, whether it’s with an individual project or a whole venture. Failure is something to be embraced. Failure means that you are experimenting, that you’re taking risks, that you’re growing. As painful as it may be to experience failure, try to look at it as a growing pain.

Rebirth

After facing defeat, it is only a matter of time before you’re at it again. This is an exciting time. Not only are you getting back into the game, but you’re doing so with lessons learned from your previous experiences. With this new stage you may even find yourself going from Doubt to Confidence, skipping the stages of development in between. Even if your company fails several times, the total amount of experience gained will make a better, wiser entrepreneur out of you.

Wisdom

After years of Setting Forth and Defeat and Rebirth, you’ll eventually reach a state of equilibrium. The things that once rattled you no longer do so (well, maybe one thing will). Good decisions will become second-nature. You’ll have perspective on what failure means and how it can be converted to progress. At this point, you’ll be asset to any business you involve yourself with.

The article that inspired this piece can be found on entrepreneur.com.

 

6 New FinTech Cities To Watch

Firoz PatelWhile payment loans and emerging payment solutions tend to be the focus of this site, it’s important to take a step back every now and again to consider the broader industry. Today payment solutions are intrinsically linked with emerging technologies.

And when it comes to fintech, there have been three major players that have been dominating the industry: New York, London, and Silicon Valley. But as the market grows rapidly, other cities are coming up to make their mark. Here are 6 cities to keep your eyes on:

1. Vancouver

Known for valuing privacy and security, Vancouver has acquired an “organic” talent pool of engineers and innovators with their lack of government influence and sponsorship. Within one year, they have already tripled their value from $4 billion in 2013 to a little over $12 billion in 2014.

2. Hong Kong

Hong Kong has been a constant pest to the top fintech cities for awhile now though some experts have argued that it have been dropping off the map compared to other cities. But it’s showing successful numbers similar to Vancouver. The country’s roughly $3 billion market jumped to around $12 billion in 2014. It also repositioning itself towards a leading position with its ever-thriving Cyberport.

3. Dublin

Dublin is ready to challenge London for its leading position by taking a crash course into the European markets. Being an outsourcing location for many companies, It’s the hub for Accenture (a fintech dedicated to the ecosystem worldwide) and the U.S. bank Citi.

4. Singapore

Singapore has become a major player across the board in the industry. Both in global services and in Asia. Over a span of the next five years, the country has pledged $166 million for fintech investments.

5. Sydney

With its thriving deep-rooted professional, creative and digital industries, Sydney has come out of the woodwork and started to utilize its fintech potential. Sydney’s hub has been estimated to be worth over AUS$2 million and continuing to go strong with support from the government and the private companies.

6. Berlin

Known as the startup capital, Berlin has mastered growing tech startups and has become the second largest hub with fintech funding in Europe, bringing in a whopping $300 million in 2014. It’s second to only the U.K.

 

Info courtesy of Procurement Leaders and Tech Crunch.

 

Navigating the World of Bitcoin and Digital Currencies

bitcoins pile firoz patelTo some, it may seem like Bitcoin is a currency cloaked in mystery. Analysts everywhere can’t stop talking about Bitcoin and its meteoric rise. Though fraught with early glitches, Bitcoin is considered to be a success by most. As the first digital currency, bought, sold and traded throughout the world, it’s no surprise that Bitcoin is a major point of discussion whenever one considers the current landscape of cryptocurrency. Payza showed a vote of confidence in the potential for this new currency when we announced a new feature that allowed users to withdraw funds from their Payza accounts and deposit right into their Bitcoin wallet.

 

But many ask today, what the future holds for this brave new currency. And many want to know of any risks that may accompany buying into this digital gold rush.

 

For the uninitiated, Bitcoin is a cryptocurrency free from countries or borders. A decentralized monetary system that retains its value no matter where in the world it’s used. Designed by programmers with incredible foresight and code savvy, this new internet currency is the hotly discussed center of current economic debates. Most recently, Bitcoin made headlines for the disagreement among Bitcoin developers in terms of deciding how the core software should change. There are two vocal camps. The heart of the disagreement has to do with establishing how to manage Bitcoin’s block size.

 

Known only as Satoshi Nakamoto (an alias), the creator of Bitcoin vanished by the end of 2010, leaving a massive power vacuum in his wake. Stepping into the void were very real programmers, each acting as a figurehead for the currency and its growth. Ironically, this has proven to be a problem for those who came to Bitcoin for its lack of “human involvement.” For many, Bitcoin represents a massive investment in an emerging currency, and their potential loss of would be catastrophic. Hard currency relies on dozens of factors to dictate its worth, but Bitcoin being entirely virtual means that the strength of its value lies in the hands of these few programmers.

Though the power to manipulate the value of the currency is ever-present, Bitcoin programmers limit themselves to action when only absolutely necessary. As analysts have stated, Bitcoin cannot afford to alter its programming too much at this point. Doing so could fracture the entire ecosystem, and bring what has been so carefully constructed crashing down. With precision and the utmost care, Bitcoin’s masters have adhered to the strictest of codes to keep their cryptocurrency as financially stable as possible.

Though not as widely popularized as Bitcoin, smaller companies have been testing their own forms of cryptocurrency dubbed Altcoins. Though these attempts to cash in on the success of Bitcoin have never measured up, the reality of cryptocurrencies are very real. While still in its infancy, Bitcoin has shown promise in its widespread acceptance with the digital community. Though still in need of the occasional helping hand, we may live to see the day where an autonomous cryptocurrency becomes equally accepted as paper money. A bold experiment now worth over $4 billion, Bitcoin is putting the money where its mouth is.

Money Running Tight? A Payday Loan Can Solve The Problem

 

Sometimes paychecks can just fall short of crucial bill due dates. One option to get money quickly is a payday loan, but these should be approached carefully. Here you will find advice on how to use a payday loan to your benefit.

If you’re considering applying for a payday loan, it’s important that you know when the loan term ends. The interest rate associated with a payday loan is high which can result in significant costs if not paid back promptly.

Be aware of the fees that come with a payday loan. While the money may be great in hand, avoiding dealing with the fees can result in a substantial burden. You need to have in writing what you will be paying. Make sure you find out that information before you sign anything.

Payday lenders utilize a number of techniques to evade usury regulations meant to protect the consumer. They tack on hidden fees which are perfectly legal. You might pay up to ten times the amount of a traditional interest rate.

Make sure to consider every option. Compare payday loans to personal loans so you can get the best rates. Your credit rating and the amount you need will affect your rate. You can save money by doing your research.

Payday loans are only for emergency situations. When you take out a loan, you may never get back on your feet. Interest costs and late fee penalties will increase dramatically if your loan isn’t paid back on time.

Do not get into debt that you cannot afford. Make sure you are not taking out a payday loan in order to pay another one off. It is essential to break free of the routine, even if doing so requires sacrifices. You will find that you can easily get stuck in this cycle if you do not do something to put a stop to it. A cycle like that can rack up a huge debt in just a little time.

When you get a payday loan, do not borrow more money than you are able to afford. They’ll provide you offers of larger sums, but don’t give in to temptation.

Beware of marketers that are paid a commission to bring in borrowers to lenders. Businesses that operate in foreign countries are not subject to the same laws and penalties for taking advantage of customers. You may get into a contract that you can’t get out of.

Developing a good history with a payday lender can be to your advantage. Doing so lets you get the money you need when you have to take out another loan. Be certain to choose a good payday lender and stay loyal to that lender.

Try to find out what state the lender is based in. There are lending caps, but they vary from state to state. Avoid doing business with lenders that are out of the country and are not required to operate under the same standards as a company based within the country. When you find out what state they are based in, find out the laws there.

People shouldn’t depend on payday advance loans in order to make it, but they are helpful when urgent bills are due. Use a payday loan only occasionally and wisely so you don’t run into any kind of problems. Keep these concepts in mind whenever money gets tight.

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