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.

Simple Tricks To Help You Find The Best Payday Loans

 

A financial emergency can have you looking at any option for cash to solve the problem. You have no doubt seen advertisements suggesting you get a payday loan. You need to determine if this option is the best choice for you. These loan companies may be able to help you, but you need to be very cautious. The following advice will help you understand payday loans and use them effectively.

If you find yourself in a situation where you need a payday loan, know that interest for these kinds of loans is very high. It might be more than 2 times what the loan was worth. These lenders use holes in usury laws in order to bypass the limits that are placed.

When getting a payday loan, keep in mind that you can’t count on your next paycheck being available to you. The money that you borrow from a payday loan will have to be enough until your second paycheck because the first one you receive will be used to pay back your payday loan. Not realizing this can start a recurring cycle of debt that could last a long while.

When times are tough, sometimes the only option is a payday loan. It’s important to make sure that you have no other options before taking out a loan, though. Try asking a close friend or family member before taking out a payday loan.

Do some research about payday loan companies. Avoid making a choice based of a television or radio commercial. Take the time to research them as much as you can online. Look for testimonials of each company before allowing the companies access to your personal information. Going through the payday loan process will be a lot easier whenever you’re dealing with a honest and dependable company.

There are many fees that you should be aware of before taking a payday loan. It is important to know the full cost of the loan before taking it out. Lots of laws exist to protect individuals from predatory interest rates. Excessive fess may be charged to get around the legislation that is in place. This ends up increasing the overall cost of the loan. This should help you figure out if getting a loan is an absolute necessity.

Explore all your choices. Don’t discount a small personal loan, as these can often be obtained at a much better interest rate than those offered by a payday loan. This will depend on your credit history and how much money you want to borrow. You can save money by doing your research.

How much you’ll get from any payday loan is influenced by many factors. This will be determined by your income. Lenders usually calculate how much you earn and then set a max amount that you can qualify for. Before getting a payday loan, you have to understand this fact.

Your financial emergency might end sooner with a payday loan. However, before taking out a payday loan you must understand all of the details that are involved. The insights here can go a long way toward helping you see things clearly and make decisions that affect your life in a positive way.

The Pros And Cons Of Payday Loans

 

Everyone needs some help at sometime in their lives. If you’re feeling constricted financially, and that you’re in need of extra money, try to consider getting payday loans. Surprisingly, payday loans can be a great thing to invest in. You can learn more about the ins and outs of payday loans by reading on.

Checking with the BBB (Better Business Bureau) is smart step to take before you commit to a payday loan or cash advance. You will find out information about the company, including any history of customer complaints.

Never lie on your payday loan application. Although you may be tempted to do this so that you can be approved for a large amount, putting knowingly false information on your application is fraud, which can result in a criminal prosecution.

If you live an area where no payday loan companies operate locally, look online for reputable companies that will work with you long distance. Sometimes, you can actually cross into another state where payday loans are legal and get a bridge loan there. Since funds are electronically recovered, you should not need to make more than one trip.

If you need to take out a payday loan, get the smallest amount you can. A lot of people experience emergencies in which they need extra money, but interests associated to payday loans could be a lot higher than if you got a loan from a bank. Keep your costs down by borrowing less.

One tip that you should keep in mind when thinking of getting a loan is to locate a lender that’s willing to work things out with you if there is some kind of problem that arises for you financially. Some lenders will give you an added extension if you are unable to pay back the loan on time.

Take the lessons offered by payday loans. If you’ve experienced the high interest and fees of a payday loan, you’re probably angry and feel ripped off. You can use these feelings to motivate yourself to start an emergency savings account, and borrow from yourself next time!

Always look at a payday loan as your last option. Even if you are getting cash advances with a credit card, you will save money over a payday loan. Speak with your loved ones and ask for assistance.

If you are thinking about a payday loan, do as much comparison shopping as you can. There are plenty of payday loan agents out there that have varying costs. You’ll find that some sites offer better deals than others. You should not move forward without investing some research time.

Look into any payday lender before taking another step. Never sign on to a loan until you understand all of the terms to which you are agreeing. Get as much information about the lender so that you do not have an unpleasant surprise.

Now that you know what is involved with getting payday loans, you will now be more confident when getting one. Many people think payday loans are scary and want to avoid them at all costs. With proper planning and usage, payday loans may be helpful and take away any fears related to hurting your credit.

Things You Should Know Before You Get A Payday Loan

 

If you are stuck in a jam and need money quickly, taking out a payday loan could be the answer to your problems. Even though payday loans are useful, if you don’t know enough about them, they could put you in a bad situation. The advice in this article will protect you from making any mistakes when you take out a payday loan.

When you take out a payday loan, you might as well kiss your next paycheck good-bye. The money you received from the loan will have to be enough until the following paycheck since your first check should go to repaying your loan. If you’re not able to figure this out then you may be forced to continually get loans which could last for a while.

There are a lot of payday loan agencies in existence. If you are considering a payday loan, do some research first, and look for a company with a good reputation. In particular, look through customer reviews. Just check the Internet to find out about each firm.

Always research first. This will help you to compare different lenders, different rates, and other important aspects of the process. The more lenders you look at, the more likely you are to find a legitimate lender with a fair rate. Although this could be time consuming, you will probably end up saving tons of money. It may be possible to find an online resource that will compile information on several companies for easy comparison.

Question everything about the agreement and conditions. Lots of these companies can rightly be called predatory. These companies make money by providing terrible borrowers with loans that they know won’t be paid back. Although these companies make promises, they usually have loop holes to get around them.

Only work with a payday lender that has the ability to do an instant loan approval. In the current world of technology, they should be able to approve you quickly. If not, their business may be behind the times, and you may want to find an alternative choice.

Before you resort to taking out a payday loan, you should make sure that there are no other places where you can get the money that you need. Credit card cash advances carry lower interest rates than payday loans. Talk to your family and friends and ask them if you could get help from them as well.

Make sure you are aware of any automatic rollover type payment setups on your account. Some lenders who provide payday loans will arrange to renew your loan and take fees and penalties out of your account entirely automically. Many of these require no action from you other than the initial set up. If you fall for one of these scams, you could end up spending thousands of dollars on fees. Be aware of the process you are getting involved with.

Payday loans can be great for getting you quick cash in an emergency situation. The downside to payday loans is that the terms of the loan are often not ideal. Use the advice and information in the article below to get a payday loan with as little pain as possible.

Here’s What You Need To Know About Payday Loans

 

Do not fear payday loans. A lot of people are afraid of payday loans because they do not understand what payday loans are all about. When you have this fear, allay it by continuing to read this article.

Payday lenders utilize all kinds of methods to get around interest rate laws that are meant for protecting consumers. Rather than charging high interest, they will tack on fees to the loan to make up the difference. As a result, the interest rate for a payday loan might be astronomical.

Make sure you educate yourself on all the companies first before doing business with them. Never rely on lenders who appear to be trustworthy. Look online for information about the company, especially testimonials from their customers, before you take a loan out from them Stick to a reputable company which will give you some peace of mind.

Look around for the lowest interest rates. Besides local lenders operating out of traditional offices, you can secure a payday loan on the Internet, too. They all try to give you the best rates. Some lenders give out significant discounts when it comes to first time borrowers. Do your research and compare lenders before you decide on one.

A great thing to remember when applying for payday loans is that you always need to be aware of the interest rates. Never sign anything until you fully understand the terms. Payday loan companies that don’t give you all the information up front should be avoided as they are possible scams.

If you are considering applying for a payday loan, watch out for fly-by-night operations and other fraudsters. There are those who pose as payday lenders only to rip you off. Be sure to use the BBB online to find out if a company is legitimate.

Be sure you give payday loan companies correct information. Provide the right income documentation, including pay stubs. Also be sure to supply the correct phone number where you can be reached at. By giving out false information, or not including required information, you may have a longer wait before getting your loan.

It is important to only use payday loan services if it is necessary. Once you take out one loan, you may get into a situation where you have to keep borrowing money just to keep your head above water. Your pay will be reduced, and the company will entice you to not pay it back until you get to a point, where you cannot pay it back.

Although you might be at the loan officer’s mercy, do not be afraid to ask questions. If you feel you are not getting a good payday loan deal, ask to speak with a supervisor. Most businesses are usually open to giving up a bit of their profit margins in order to make money.

With luck, the ideas and information presented here are indicating to you whether you’re going to take out a payday loan or not. It’s important to consider everything you have learned here and never disregard any piece of information. It is best to learn as much information as possible before deciding to get a payday loan, because there may be more information to consider.

Tips To Help You Get A Payday Loan

 

If you really need money, try to find all other places to get it before doing this. Most likely you have seen ads for payday loans. Are payday loans the right thing for you? While these companies can assist you in weathering a crisis, you must exercise caution. Continue reading to learn some excellent tips on payday loans.

It is extremely important that you repay your payday loan on time to avoid excessive fees. If you have to extend the terms of the loan you will incur more costs and be charged more interest.

Most payday loans are supposed to be paid back in two weeks. However, things do happen and if you cannot pay the money back on time, don’t get scared. Lots of companies will provide you with an option to “roll over” your loan, which allows the loan to be extended. However, you still might incur some fees.

Make sure you know the details about late payment penalties. You may intend to pay your loan on time, but sometimes things come up. It is important to read all the fine print in your contract, and understand what fees will be charged for late payments. When you don’t pay on time, your overall fees will go up.

The lender will have you sign a contract to protect them during the relationship. If the debtor goes into bankruptcy, they will still try and collect their money. Additionally, you must sign an agreement stating that you will not sue if you have a dispute with the lender.

You should go to a lender with an instant approval option to save time. If they have not gone digital, you may want to avoid them since they are behind in the times.

Those of you looking to take out a payday loan should only do so as a last resort. This is because you suffer very large interest rates when applying for payday loans. You could wind up having to pay 25% or more of your loan in interest. Prior to securing a payday loan, investigate your options.

Make sure that you know exactly how much your loan is going to cost you. It is no secret that payday lenders charge extremely high rates of interest. They may also tack on administration fees as well. These fees are often in the fine print of the loan agreement.

There are things called rollover clauses that you may have to contend with via a payday loan, so learn about them. This might be because your lender has renewed your loan and will take the money from your account. You may think that everything’s over and that you’re in the clear, only to have funds drawn out of your bank. This could make it harder for you to pay the loan, and could have you subjected to a lot of fees. Read the small print and select a lender with a good reputation.

Payday loans can help you overcome a financial crisis. Make sure that you know exactly what you are getting into so you don’t end up with a nasty surprise. Hopefully, after reading this article, you are aware of how to handle a payday loan so you can make smart decisions on them.

Using Payday Loans To End An Emergency But Not Cause The Next One

 

If you are having financial issues and are in desperate need of money, it’s important that you know what choices you have. For a few people, it’s a great solution to get a payday loan. This article covers these loans and will help you with answers.

The single most important thing you have to keep in mind when you decide to apply for a payday loan is that the interest will be high, no matter what lender you work with. It is not uncommon for rates as high as 200 percent. Payday lenders are very savvy on ways to add fees and extra costs to get the most money back from you.

All payday loan agencies aren’t created in a similar way. There are companies who can offer you much better loan terms than other companies can. You may be able to save money by comparing companies to find the best rate.

Remember that payday loan companies tend to protect their interests by requiring that the borrower agree not to sue and to pay all legal fees in the event of a dispute. The loan amount cannot be discharged in a borrower’s bankruptcy. Their contracts also contain indemnification or forced arbitration clauses that limit a borrower’s ability to sue in court.

If payday loans have gotten you into trouble, there are several different organizations that can provide your with assistance. They often do not charge you anything to help you, and they might be able to get you lower interest rates on your loan.

Be certain the money for repayment is in your bank account. The lending institution will send your account to collections if you miss any payments. Not only will your bank charge you overdraft fees, the loan company will probably charge extra fees as well. Be certain the funds are available to avoid this dangerous cycle.

You must have a current work history before you can qualify to secure a payday loan. It is common for lenders to require you to have been working for at least 3 months before they allow you to apply for a loan. Most lenders will need to see documentation like paycheck stubs.

Don’t avoid the lender if you can’t pay back the loan on time. Their collectors may be frightening when they are after you. Therefore, contact the provider directly to negotiate an extension when you fall on hard times.

You can find a lot of the information for certain companies with the Better Business Bureau. Prior to signing loan documents, try contacting BBB to find out about filed complaints against the company. If you find a large number of complaints about the lender, consider finding an alternative.

If you are feeling stressed about money, hopefully you were able to obtain some help from this article’s tips that can help you through some of the financial stress. If you are thinking about taking out a payday loan, it’s critical that go into it with your eyes wide open so that you can make the best choice possible.

Read The Following Article To Learn About Payday Loans

 

Are you needing money very quickly? Do you think your money situation will be stable going forward, but for now you need additional time to pay? If you want a quick cash infusion, a payday loan is one option to consider. Payday loans allow someone in financial distress the time to make a financial recovery plan. Read the following article to learn how they do that.

Keep in mind that not every payday loan lender is the same. Check out a few different providers. You may find a lower interest rate or better repayment terms. Researching all companies in your area can save you a great deal of money over time, making it easier for you to comply with the terms agreed upon.

When it comes to applying for a payday loan, it is in your interest to shop your options. You may be in a situation where you need money quickly, and feel like you don’t have enough time for this. However, if you take just a couple hours to research some different options, you can save a lot of money. Doing your research first can potentially save you a lot of money and keep you from making a choice you will regret.

Read the fine print in any payday loan you are considering. There are many predatory companies around looking for you. Their profits are made by dealing with poorer individuals who are likely to be late on repayments. No matter what the promises or guarantees may say, they are probably accompanied by an asterisk which relieves the lender of any burden.

Know that payday loan scams exist. There are organizations and individuals out there that set themselves up as payday lenders in order to get access to your personal information and even your money. If you are considering any company for a loan, check out their Better Business Bureau entry.

Make sure you borrow only the bare minimum when applying for payday loans. Interest rates for payday loans are much higher than those of traditional bank loans or credit cards. Keep the costs of your loan lower by only borrowing what you need, and keep up with your payments,

Don’t take out a loan if you will not have the funds to repay it. Missing payments does not prevent the lender from pursuing collection activities. Banks will assess NSF fees, and you are sure to incur greater debt to the lender. You have to have money available to ensure this situation doesn’t happen to you.

Payday loan companies do belong to the BBB and have good ratings. Visit the BBB’s website to see if any complaints were brought to the company you are considering. If you see that they are not reputable, run away!

Anxiety over finances getting you down? Payday loans are a great way to get the extra money you need in a hurry. If your only option is a stiff late fee on a bill that will come due prior to your payday, then look into payday loans as a possible solution. Armed with the information supplied here you should be able to meet your financial responsibilities with a payday loan you can afford and pay back on time.

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