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Business Advice Blog Posts

By First American Merchant

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Everything Your E-commerce Shop Needs to Know About Payment Processing

Online shopping over the next couple of years is expected to grow on a massive scale. Worldwide, e-commerce sales surpassed $4.2 trillion in 2020, and those numbers will only continue to grow. Now that consumers are growing used to the convenience of shopping for everything online, there really is no going back. Speed and convenience is the name of the game. It’s what consumers have grown to expect: fast payment processing that is convenient in every way and safe to use. To make this happen and easily maintain it, e-commerce companies need industry-leading payment processing and the right payment gateway. […]

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How to Avoid Brand and Customer Loyalty Fraud

Seventy-two percent of loyalty program executives have suffered fraud-related problems, according to a study by a Loyalty Security Association.  In particular, cases of deceitfully redeemed flyer miles are a primary concern. The same research revealed that 1 percent of redeemed air miles are phony. That figure accounts for a $3.1 billion loss worldwide.  Even more worrying, expenses incurred by the top five airline-loyalty programs jumped 12 percent to $27.5 billion in 2020. Types of Loyalty Fraud There are two types of loyalty fraud: 1. Internal Fraud.  This happens when staff(s) who are part of the loyalty program’s control crew plan […]

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How Cash Discount Programs Can Boost Businesses Sales

Last year COVID-19 slowed down businesses forcing entrepreneurs to find new strategies in a bid to stay afloat. For instance, they introduced Cash Discount Programs to attract clients and boost sales without chasing away customers.  Discounting your goods/services may sound like a wrong approach, but it makes sense if you have a well-thought-out strategy? Cash Discount Program: How Does it Work? A cash discount program is a short-term payment plan that merchants organize to lure customers to their products. Merchants who participate in cash discount programs give discounts to customers who pay with cash. These cash discount programs can be […]

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Can I Ask Employees About Their COVID-19 Vaccination Status?

One of the biggest challenges for employers regarding COVID-19 is keeping track of which employees have been vaccinated. Asking workers about their COVID-19 vaccination status is a smart thing to do. It’s also something that you probably don’t feel comfortable asking.  And for a good reason; health-related information is a sensitive matter. Furthermore, laws in the United States prohibit discrimination against employees based on their vaccination status. While there are no regulations burring you from asking them about their vaccination status, the best practice would be to comply with existing regulations on employee health data. Here are some common questions […]

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3 Ways Small Businesses Unintentionally Fall into Debt

Running a successful business involves an interesting combination of risk, sacrifice and discipline. From time to time, it requires investment to see improvements. At other points, it means giving up something in the pursuit of something bigger. Above all, it demands discipline to achieve your ultimate goals.  Of course, one of the biggest risks for a business – whether a startup or an established company, is debt. Choosing to take on debt to secure much needed capital can be a smart decision, as long as you have a plan and capability to pay it back in a timely manner. However, […]

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9 Common Financing Mistakes to Avoid

Are you a startup founder? You might be faced with the common challenges all starters come across on their way. Avoiding financing mistakes is critical to your success. Let’s discuss several top mistakes that you should sidestep so not to fail in the early stages. Also, let’s see where you can find reliable and cheap startup lending in case you need access to additional working capital while growing your business. Common Financing Mistakes & Startup Lending  Did you know that 2 out of 10 startups fail in their 1st year, as the Bureau of Labor reports? Starting up isn’t easy, […]

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Tips to Defeat Ransomware

How to defeat ransomware? This is a question that you, as a merchant, must be interested in, mustn’t you? If your data gets stolen, you should be prepared for the worse and take the right measures to save the situation. The below article is about what you should do when faced with ransomware. Also, it’s about a reliable and experienced merchant funding provider in case you need access to additional working capital.  Ransomware Attacks & Issues With Business Funding Ransomware isn’t something new, only it’s now more widespread. Today, cybercriminals are more sophisticated and they go on mastering their skills […]

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Minorities Claim It’s Harder To Launch And Grow A Business

According to a report by the US Federal Reserve, less than 47% of loan applications filed by African American business owners are approved. It was also found that more than 50% of companies owned by African Americans were actually rejected for business loans.  Although “black-owned firms” were more likely to seek financial help from banks, less than 47% of these applications were “fully funded”. Even more surprising, when black business owners did get approved for a business loan, the “rate of failure” to obtain financing in its full amount was the highest in all categories, exceeding 10%.  The rejection of […]

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Pandemic Pushes More SMBs to Truly Digitize Workflow

While this year has been surrounded by uncertainty, one thing is for sure: businesses both large and small are migrating to the digital world. It’s true, digitizing documents is key to optimizing workflows. However, when it comes to the procure-to-pay space, not all digital invoices and purchase orders are the same. First of all, what is procure-to-pay? If you’re not familiar, procure-to-pay is the process of integrating purchasing and accounts payable systems to create greater efficiencies. So, why haven’t businesses made this shift already? Many small- to medium-sized businesses (SMBs) struggle to move to the digital world because they still […]

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7 Tech Companies Boosting and Fueling the Creator Economy

For many years, “big media” controlled entertainment and the news. Just in the past decade, this has all shifted. What most of us read, view and listen to is no longer focused on a small number of companies. We now find ourselves in the middle of the era of the creator economy – a stronger economy. What is this creator economy? This term refers to individual creators like artists, podcasters and YouTubers. These individuals have achieved success by building a business around their personal brand and connecting directly with their audience. This has all been made possible through easy-to-use consumer […]

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