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3 Things to Consider While Selecting Your Marketing Automation Tools 960 688 ImplicitPay CO

3 Things to Consider While Selecting Your Marketing Automation Tools

If you’re new to marketing automation, you might want to think about how you and your team will want to adopt those automated processes in the right way. Considering how the marketing automation industry is growing with increased adoption rates, it’s important to ensure automation is done efficiently. For starters, let’s consider a few statistics:

a. About 49% of businesses use some form of email automation. (Email monday, 2018)

b. In the next two years, an additional 21% of marketing leaders plan to use a marketing automation platform. (Salesforce, 2017)

c. Spending for marketing automation tools is expected to reach $25.1 billion annually by 2023. (Martech Today, 2018)

d. 79% of top-performing companies have been using marketing automation for three or more years. (Venture Harbour, 2017)

e. 80% of marketers using automation software generate more leads. (LinkedIn, 2016)

Source: HubSpot Marketing Statistics

Clearly, many industries are adopting marketing automation software and technology tools;these are few really important things that you need to keep in mind while making your choices:

1. Don’t automate bad processes and beware of outsourced lists

Map your marketing processes that drive traffic and leads thoroughly. Flow of leads through the funnel, including allocation and their sources are key. Hence, map those properties accurately. Make sure that the members of your team who run these processes are on-board with any changes that such automation will bring to their day-to-day work. Appointing a change manager (champion) who is a marketing process specialist will save you time and money. Identify and eliminate poor processes – fix the process before you can automate it.

2. Beware of outsourced lists and automate lead qualification to stay compliant

Avoid buying email lists and sending them automated email campaigns. These will fail and become costly to resolve. Especially now, with GDPR, this can get your business into a whole lot of trouble. Automation tools can be a life-saver with their inbuilt measures to ensure that some of your processes are compliant with the new laws. That said, the software is an only enabler and you must do the work to stay compliant. To further help the process, focus on creating exciting content that will motivate people to sign up for your content offerings (say, eBooks and animated GIFs) and build + grow your own opt-in database that can deliver better lead conversion.

Email databases will expire as the years roll by so it’s important to keep generating new leads at a higher rate than the expiry rate; which is about 25% per year. To generate new leads, you need to consistently create better content, design interesting calls-to-actions &landing pages, write engaging blogs and optimise your website for the search engines. Automation is great for nurturing leads, but you need to generate those leads first for the next step to happen.

3. Don’t let fancy features fool you

When deploying a marketing automation for your needs, don’t let fancy features fool you. Each software will have different learning curve, and maybe using a software with an easier UI might speed up processes. But, if it doesn’t solve your marketing process related (specific) problems, then it might not be the software for you.

Source by A Shantha Kumar

How to Launch an Online Coaching Business 1024 682 ImplicitPay CO

How to Launch an Online Coaching Business

Cut through the noise and create a viral product.

7 min read

Opinions expressed by contributors are their own.

Work from home? Control your own schedule? Impact people across the world with your product or service?

Internet marketing is on the rise for a reason. It gives you the ability to scale your business to a global level without forfeiting your personal freedom. Still, there’s one question that still prevents s from entering the online space: “Is it really possible to make a living off the internet?”

Related: The Complete, 12-Step Guide to Starting a Business

Not only is it possible, it’s lucrative when done correctly. We live in the Golden Age of internet marketing. Thanks to social media, everyone can get in front of a camera and pitch their idea to the masses. Good enough, right?

Not quite. These days a big idea will only get you started; it’s what you do to bundle and package that idea that matters. Here are the three steps you need to take to launch a profitable online business.

Flesh out your idea.

Of course, before you create your product, you need an idea. Your idea must solve a specific problem that a specific group of people face. Make sure you establish that before you move forward.

Now, before you begin creating your product, you need to write your sales copy. Your sales copy (or sales video, if that’s what you prefer) should be enticing enough to take prospects from “I’m interested in this” to “I need to buy this now.”

But, why write your sales copy before creating your product? Too many s write copy that promises a lot but delivers next to nothing. When you write your copy before creating your product, you build the blueprint to create a product that satisfies your customers’ needs — without overpromising.

Your sales copy should address the prospect’s problem, expln how your product is the solution to that problem, and include a list of bullet points that summarize the benefits of your product. Make sure you nl the first 500 words — easily the most read section of your sales copy. Finally, always create a sense of urgency or people at home won’t be motivated to buy your product.

People always ask me, “Well, what if I’m not a good writer?” That’s OK. Just say your pitch out loud, record it and send it to an online transcribing service. For a relatively inexpensive price, you’ll get your sales copy written out for you. Just review it, copy it and paste it to your website and boom — there’s your sales copy!

Related: How to Start a Business With (Almost) No Money

Build the “know, love and trust” factor.

Most people believe you need to sell prospects first, then deliver results. But, what if you flip it? It’s much easier to sell someone once they know, love and trust you as an authority in your space, rather than selling them on your product before they even know if you can deliver the results you’re promising.

That’s why the most successful internet marketers — including myself — give away boatloads of free content via blogs and videos. Granted, the stuff we give away for free could easily be packaged together into a high-priced course, but that would be short-sighted. You don’t want prospects to buy from you once and move on — you want them to become long-term paying clients.

See, you deliver free quality content to your prospects, then they take it and implement it into their businesses. They start to see results in advance, which leads them to trust you more and more. Soon, they begin to crave more knowledge from you, and their willingness to pay for your products and services increases.

Eventually those prospects become your most loyal clients. They buy your front-end products, your upsells and your flagship products — all of which I’ll get to in just a second. But, before you get that far, make sure your prospects know, love and trust you before you worry about selling them anything.

Related: 12 Low-Cost Business Ideas for Introverts

Create your front-end product and upsells.

Once your copy is written and you’re building the know, love and trust factor, your next move is to create a front-end product — a product that’s easy to sell. This could be an ebook, a membership site or a course that comes with follow-along videos.

Now, you might be tempted to charge a high price for that product. Here’s the thing: Most of the money is made on the back end. I’ll talk more about this in a second, but for now just remember that the front-end product is not the final product you’re really trying to sell them. I — along with many of my fellow internet marketers — don’t mind breaking even or losing money on front-end products because I know I’ll more than make my money back with my flagship product.

Instead, your m should be to use that front-end product to upsell them instead. So, after they purchase your front-end product, offer them three different upsells. An upsell is a higher-priced product or service you offer a customer after they’ve bought something from you. These upsells should be done-for-you, and they should enhance the front-end product by making it easier to understand or more efficient at getting results.

Why are upsells so important? Besides adding value to your front-end product, you’ll be able to recruit more affiliates to promote your business. An affiliate promotes your product to their own audience for a commission fee. If you make money through upsells, affiliates will choose to work with your business over your competitors because you can pay them higher commissions. The payoff? You get more traffic going to your webpage and ultimately more bottom line revenue.

Related: 63 Businesses to Start for Under $10,000

Move them to your flagship product.

That’s how you set up the front end of your online business. But, what about the back end? Remember I sd that most of your money will be made on the back end and not the front end?

That’s why you need a flagship product to pitch your clients once they’re done with your front-end product. But, what in the world does a flagship product look like?

It could be high-end coaching sessions. It could be a spot in your exclusive mastermind group. It could even be a suite of software that teaches them everything they need to know about their industry. The front-end product is a way to get your clients through the door; your back-end product is the money-maker product, the one they’re more likely to buy once they’ve already purchased something from you.

I’ll give you an example. People will often find my products online. Usually when they finish using those products, they’re still hungry for more knowledge and advice. At this point, they’re considered qualified leads for my mastermind program, so we make sure they know about that program and how to become a member of it.

That leaves you with one problem: How do you send marketing emls to every single person that buys your front-end product/upsells? It’s basically impossible, unless you’re in front of your computer screen 24/7 (which I’m sure you’re not). Fear not, because it’s actually easy to do when you use an autoresponder system to send out all those emls on your behalf.

It’s simple: When your clients purchase your front-end product, the system automatically sends them emls from you. That way, you can build a sequence where you give away even more of your best free content before sending them an offer for your flagship product. By the time they get to your flagship product, they’ll be so confident in your expertise and results that they happily pay the higher price for your higher level of service.

That’s the simple science behind converting your prospects into clients, and your clients into fiercely loyal clients. It’s how you sell your highest-priced online programs without running into any of the typical sales objections. Follow these three steps and start building your own online business empire today.

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Instagram Is Reportedly Working on a Fix for a Hashtag Nightmare 1024 682 ImplicitPay CO

Instagram Is Reportedly Working on a Fix for a Hashtag Nightmare

Putting hashtags in as a first comment makes your posts easy to notice.

4 min read

Opinions expressed by contributors are their own.

Lo and behold! Instagram is testing a new feature for adding hashtags as a separate block underneath the images.

App researcher Jane Manchun Wong tweeted earlier this week a screenshot of what looks like a beta version of a new Instagram feature, which should simplify and improve the way hashtags are presented on this platform. Currently, a lot of Instagram users stuff their captions with hashtags, which makes for less than a great user experience.

Related: How to Grow Your Business Using Instagram

While we are wting on the official word (or release) from Instagram, I always recommend my clients to put hashtags in as a first comment. This will make your posts as discoverable as they’d be otherwise, and keeps your captions polished and engaging. Plus, if you share your Instagram posts to other social platforms where the use of hashtags is not part of an etiquette (such as Facebook and Pinterest), inserting your hashtags as a first comment keeps captions user-friendly on other channels.

So, next time you post on Instagram, write your caption and click Post. Then, go into the comments under this fresh new post and type up hashtags there.

Related: Profitable or Popular? Make Hashtags Work for You

The new rumored feature also seems to not impose a limit on the number of hashtags under a single post. However, it is most likely that the feature will have a limit once it becomes avlable. 30 is the current maximum number of hashtags one post can have, which is plenty if you use them correctly.

I highly recommend you utilize all of them to increase visibility of your posts and attract more of your target audience to your handle. Hashtags are the most powerful way to get discovered on this platform! If you think about it, hashtags are really like keywords. So, if you want your ideal audience to find your posts, and thus, your handle, you need to up your hashtag game. Do not rely on someone accidentally stumbling across your posts; become very strategic about optimizing them for maximum exposure.

In my experience, newbie Instagrammers resist leveraging all 30 hashtags, because of the fear that it looks “spammy” and “desperate.” To that I say: it is not true. If you pay attention to some of the most popular posts and handles, a majority of them take advantage of the hashtag limit — and so should you. Unless you are Beyonce — then you don’t need hashtags.

But since you are not (yet) Beyonce, do your hard content-creating work a favor and maximize the reach of your posts! You spent time crafting a perfect image and then you’ve spent time polishing and accompanying glorious caption, and then… you do nothing for more people to see it! If you insert hashtags into the comment section, no one is actually forced to sift through them in captions — so it is out of sight, out of mind.

However, not all hashtags are created equal. To truly leverage the power of hashtags, you need to get very strategic and use only those hashtags that are very relevant to your niche and that are popular, yet not overly-used. I recommend hashtags that have between 30,000 and 500,000 posts associated with them.

Related: How to Make the Power of the Hashtag Work for You

Also, strive to create a good mix of hashtags with low, medium, and high volume of content. More popular hashtags will ensure that your content is discovered by as many people as possible, while less popular hashtags ensure your content has a chance to stay up top longer.

It is also important to note how many engagements top posts in each given hashtag feed receive. Depending on your post performance, it may get to be featured in top posts for these hashtags. It is an awesome strategy to further maximize engagement and leverage the virality factor.

While there is still no confirmed information or date of release, I suggest you start researching the best hashtags for your business now. Whenever the new feature gets released, you will be ready and on top of your Instagram marketing strategy.

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Gil Hyatt interview: Why patent examiners gave controversial patents a scarlet letter 1010 661 ImplicitPay CO

Gil Hyatt interview: Why patent examiners gave controversial patents a scarlet letter

Gil Hyatt’s patience has been tested. After a 22-year delay, the inventor received a patent in 1990 for what he called the first microprocessor, or a computer on a chip. After cutting a deal with Philips Electronics, he began collecting royalties on a lot of electronics products that used the fundamental technology.

In Silicon Valley and elsewhere, Hyatt was viewed as a carpetbagger, a man who created a “submarine patent” by continually following up his patent application with new detls. He clms he was a diligent individual inventor who protected his rights. But after the controversial patent award, and after getting 75 patents, the patent office never approved one of his applications agn.

More than 40 years later, Hyatt sd his important applications are still in limbo. (The typical wt time is 18 months.) He has made at least $150 million from the Philips deal, but he sd he is fighting for “justice.” The case took a twist in 2014, when news emerged that the U.S. Patent and Trademark Office had a special way of flagging potentially controversial patents.

The flagged applications went all the way to the leadership of the patent office, and they were often never granted by the office. The patent office called this the Sensitive Applications Warning System (or SAWS), and it operated in secret for decades, based on the results of 31 Freedom of Information Act requests and court discovery unearthed by Hyatt and his nonprofit American Center of Equitable Treatment. Hyatt — and even a former patent commissioner — called the SAWS flag a “scarlet letter.” Hyatt sued the patent office.

I interviewed Hyatt multiple times in the 1990s, and agn four years ago. But now he’s 80 years old, and he has a new crusade agnst the patent office over SAWS. He believes the patent office is wting for him to die, rather than granting him any more patents. Hyatt sd that what he discovered in his legal fight is pretty alarming for all individual inventors. At least one other inventor, Corliss Burandt, found out that his application carried the SAWS flag, and Burandt is still fighting for issuance. I talked to Hyatt about this controversy agn last week. The patent office declined to comment on Hyatt’s ongoing litigation.

Here’s an edited transcript.

Gil Hyatt in 2014 at age 76. He is now 80 years old, and still seeking his patents.

Above: Gil Hyatt in 2014 at age 76. He is now 80 years old, and still seeking his patents.

Image Credit: Gil Hyatt

VentureBeat: Could you walk me back and review some of the timeline of when big things happened with you? It was around 1990-ish or so, wasn’t it, that we first talked about the microprocessor patent? I was at the Los Angeles Times.

Gil Hyatt: Yes. It was 1990. Another one of my patents was widely licensed, and then — I had a lot of patent applications pending. There was a change in the law in 1995, with the GATT treaty. They grandfathered us old guys in, so I filed more patent applications dating back to the earlier inventions. They’re still pending right now.

VentureBeat: How long would you say some of your longest-running applications have been pending, then?

Hyatt: I just filed an appeal brief on a patent application that the patent office has delayed for about 40 years. That was filed back in 1977. About a year ago I filed an appeal brief on another patent application of mine that I filed in 1972, about 45 years ago. The patent office has delayed and delayed. I’m finally hoping to get to the board of appeals and to the courts to stop the delays and get my patents issued.

VentureBeat: How many would you say are granted now?

Hyatt: I have more than 70 patents granted. At some point in time the patent office unlawfully decided, no more patents for Hyatt. They were down on independent inventors, and I was a prominent independent inventor. For the past 25 years I’ve been trying to overcome that illegal rule that they had, and in fact I have a major case now filed in federal court, a mandamus case to order them to properly examine my patent applications.

VentureBeat: How many do you think are pending still, these applications?

Hyatt: Originally I had almost 400 of them, because I had a lot of great technology that I needed to cover. But they’ve been unlawfully abandoning my applications recently. That’s an issue in the mandamus, the bad fth case we have filed agnst the patent office.

VentureBeat: I remember the Philips license was worth a lot of money for you. Did that wind up being the biggest you had?

Hyatt: Philips had exclusive authority to license my patents. They licensed them worldwide. The microcomputer patent was one of a portfolio of 23 patents they were licensing.

VentureBeat: Was that successful for you, the licensing that Philips handled?

Hyatt: Yes, it was very successful. The business community embraced my patent portfolios. A lot of major companies like Sony and Sharp and Toshiba licensed my patents. It was a very successful program. Philips did a great job.

VentureBeat: Has that ended now?

Hyatt: No, those patents have since expired. I’m hoping to get my more recent patent applications issued, if the patent office will ever stop delaying and give me a fr examination.


Above: Inventing

Image Credit: via VLADGRIN/Shutterstock

VentureBeat: Did you find some evidence that they have deliberately delayed your patents?

Hyatt: Yes, I have an enormous amount of evidence. I had an appeal to the federal court, the judge allowed us to take discovery, and we got thousands of pages of very incriminating evidence from the patent office and the depositions we were permitted to take. We have a very significant bad fth case agnst them. We’ve articulated many of these things briefly in the complnt we filed about three months ago. It’s now pending in the federal court of the eastern district of Virginia.

VentureBeat: The time period it covers — is that all the way up to the present day, or is it a specific time in the past where you found something that showed a deliberate delay happening?

Hyatt: This has been ongoing since 1995, when the new applications were filed, up through the present. It turns out that the patent office has been adversarial to independent inventors for a very long time.

VentureBeat: What do you think motivated this change? For a while they were granting you patents, and then this change in attitude happened. Did somebody specifically compln about you, causing this to happen? I don’t know if Intel complned to the patent office or what-have-you, but did somebody trigger this breakdown in your patent applications?

Hyatt: The patent office — the commissioner of patents at the time was very outspoken about what he called “submarine patents.” They unfrly blamed me for being a “submariner,” without checking into the facts. They needed someone to hold up as a perpetrator. Then, once they poisoned the well agnst me, the withholding of patents from me continued from administration to administration. We’re in the process of trying to break that chn and get the courts to order a fr examination of my applications.

VentureBeat: How old are you now, by the way?

Hyatt: I’m 80 years old. God’s been kind to me.

VentureBeat: Are you still in Las Vegas?

Hyatt: Yes, I’m in Las Vegas. I’ve lived here for the past 25 years or so. I moved here in 1991. One of the biggest problems the patent office created is they created this secret program called SAWS, Sensitive Application Warning System. It’s supposed to be a warning system for the directors of the PTO so they could deal with press. But instead, they used it to keep patent applications from issuing. If the truth be known, there were thousands of patent applications that should have issued and have been kept from issuing because of this secret program.

Even more significant, the board of appeals is supposed to be an independent and impartial entity, but the board was given secret information about patent applications. Applicants didn’t know about this. They weren’t permitted to argue agnst it. It’s a star chamber type of proceeding.

Above: The seal of the U.S. Patent and Trademark Office.

Image Credit: Wiki Commons

VentureBeat: Did you find something that referenced them saying they’d just wt until you died?

Hyatt: We have testimony on that from several sources, yes. We articulate that in the complnt as well.

VentureBeat: Have you had any favorable developments with regard to this — any progress?

Hyatt: Yes, very favorable. Judge [Royce] Lamberth, in federal court, gave me four decisions in four different trials that were very favorable, ordering the patent office to issue my patents, and taking away one of their biggest issues.

VentureBeat: Have they responded to that yet?

Hyatt: That decision just came down in the last month. We don’t know how it will play out yet.

VentureBeat: What do you think is the most significant patent you’re wting on?

Hyatt: I’d prefer not to talk about that at this time.

VentureBeat: What have you continued to work on since the time of the microprocessor patent?

Hyatt: I did the work on the microprocessor back with a company I formed called Micro Computer Inc., back in 1969 and 1970. From there I continued with my research and development for more than 20 years and filed a bunch of patent applications, many of which are still pending with the patent office through their delays. It’s a whole sequence of research and development, one technology building on another.

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All about Apple Pay 1024 469 ImplicitPay CO

All about Apple Pay

If you are considering Apple Pay you may want to understand how it works and the potential benefits for merchants. Apple Pay is a relatively new form of ‘contactless payment’ also known as part of the NFC payment system. Apple Pay is available on both versions of the iPhone 6, 7, and the Apple Watch. Contactless payment works when the customer taps or waves their mobile device near the checkout terminal that has NFC capabilities. If you have an NFC terminal, accepting Apple Pay is another flexible form of completing purchases for customers.

So, how does Apple Pay actually work?

Similar to any NFC capable device, it works by substituting a credit card account number with new numbers, thus protecting personal information. Any customer using Apple Pay has loaded his or her credit cards into the program prior to use. Apple Pay then creates a ‘tokenized number’ known as the ‘Device Account Number’ which eliminates the traditional cards permanent account number (PAN). Token numbers are stored in the Secure Element of the Apple device. When a purchase is made, a unique security code is created and paired with the tokenized Device Account Number. As the customer authorizes the payment by fingerprint the information is then sent to the NFC-compatible terminal and the transaction is complete. Using the TouchID sensor replaces the need for a PIN number by acting as the cardholder verification method.

Letting your customers know you accept Apple Pay is easy by placing these stickers on or near your NFC credit card machine.

Increased Brand Loyalty
Recent studies have shown that customers who use Apple Pay and other contactless forms of payment have stronger brand loyalty to places of business that accept contactless payments such as Apple Pay.

Now that you understand how Apple Pay works..

What are the benefits to accepting Apple Pay at your place of business?

As with other NFC devices, accepting Apple Pay is faster than using a traditional credit card. Having shorter lines due to customers no longer searching their wallets for credit and debit cards. Fraudulent purchase opportunities also decrease by removing the physical card in the instance that a customer leaves their personal items behind.
Apart from upgrading your old terminal to an NFC system, there is no associated cost of using Apple Pay. Merchants nor customers pay for use of Apple Pay, the card issuers, such as Chase, Bank of America etc. pay 0.15% of the cost on every transaction to Apple.

The flexibility of contactless payments such as Apple Pay benefit both the merchant and the customer by providing an improved shopping experience, fraud protection, shorter lines, and less personal needed during peak business hours. Understanding the various forms of payment options and NFC-equipped terminals can be an important aspect of business success.

Top 10 Reasons to Accept Credit Cards Online 1024 469 ImplicitPay CO

Top 10 Reasons to Accept Credit Cards Online

Reason #1- Accepting credit cards adds credibility and builds trust.

Grabbing a cardholders attention and establishing a sense of trust in your business is proven to increase a business’s sales. By displaying the logos of the credit cards you accept at your cash register and on your website, you can do just that. Customers have strong relationships established with the cards they choose to have in their wallet, seeing that their chosen cards are excepted in your store build trust and a more personalized experience. It has been proven that a stronger sense of brand loyalty leads to more sales, thus increasing your bottom line. Merchant Services LTD accepts all forms of credit card payments.

Reason #2- Accepting credit cards can increase sales.

Moving your business from a cash-only structure to one that accepts debit and credit cards will have a great impact on your business. Accepting credit cards broadness your customer base, increasing the volume of potential sales.

Reason #3- Credit cards promote buying especially impulse buying.

Shoppers are more inclined to spend more when their transaction is being completed with a credit card rather than cash. Being able to purchase items quickly and efficiently allows customers to feel in control. Having to locate an ATM or write a check can be a deterrent for many potential consumers.

Reason #4- Accepting credit cards helps level the playing field with your competition.

In today’s economy, it is accepting credit and debit cards are imperative for maintaining your competitive edge. If your place of business accepts a credit card that a consumer uses, they may be more likely to complete a purchase with you versus another vendor.

Reason #5- Accepting credit cards can improve your cash flow.

Once you begin accepting credit and debit cards your business should benefit from an improved cash flow. Due to the electronic process of credit card transactions, there is no more waiting for checks to be deposited into your bank and then cleared. Billing and waiting for customers payments can be tedious. Accepting credit cards streamlines the process and leaves less room for errors when handling cash.

Reason #6- Accepting credit cards is a necessity if you do business online.

Purchases made online are predominately paid for with credit or debit cards. If you are an e-commerce merchant, accepting credit cards is essential to the success of your business.

Reason #7- Accepting credit cards reduces the risk of accepting a bad check.

Credit card merchants such as Implicitpay deliver an advanced chargeback management system. Accepting credit cards and having an established relationship with a merchant account provider insulates your business from the potential risk of a bad check or even a bad credit card. A reputable Implicitpay can safeguard your customer’s data, leaving your business to focus on product sales rather than identity theft.

Reason #8- Credit cards are easy for shoppers to use.

Often times customers choose certain credit or debit cards because they offer extra incentives to encourage spending such as mileage points or cash back bonuses. If you are a merchant who accepts all forms of payments a potential customer may choose your business over another because their purchase will lead to earning those extra incentives.

Reason #9- Accepting credit cards is a small business expense.

The landscape of credit card processing has changed drastically over the last ten years. Credit card processing is highly-competitive thus finding a package that is suited to your business and budget is very likely. Quality implicitpay offer transparent pricing models and tailor-made solutions that can outfit even the smallest business. Accepting credit cards has been shown to increase sales, therefore, delivering a strong return on investment.

Reason #10- Getting set up to accept credit cards is quick and easy.

At Merchant Services LTD, we can process your merchant account application immediately and have you ready to process credit card sales within 24 to 48 hours.

What Are EMV Credit Card Machines? 1024 469 ImplicitPay CO

What Are EMV Credit Card Machines?

We’ve been hearing about the EMV Chip Card for some time now, but the time has come and the EMV credit card and EMV credit card machine are here.

You are a merchant, so I know what you are thinking: How does this affect me and by business?

First off, EMV stands for “Europay, MasterCard, and Visa.” EMV was created to make a standardized protocol for “integrated circuit” cards, otherwise known as “chip.” These cards and the hardware that read them were an important piece of the puzzle in fighting against fraudulent transactions. The EU have been using EMV cards regularly since 2005, and Canada joined in 2012.

How Do EMV Credit Card Machines Work?

So, how does an EMV card and credit card machine work? A traditional magnetic-stripe card has an unchanging data code associated with it, making it easy to duplicate. A magnetic stripe card is also fairly inexpensive to recreate, thus making it an easy target for fraudulent activity and transactions. An EMV card has a “chip” on the card, payment data is read from this chip instead of the magnetic stripe. The way data is transmitted to the chip differs each time a transaction is processed, making it much harder to “skim” information from the card. Of course, the magnetic stripe is still included in the new chip cards, and can be used as a backup option if there is no EMV credit card machine processor available.

Except, there is a hitch to ‘back-up method’

New Regulations on EMV Secured Transactions

As of the October 1st, 2015 deadline, created by major U.S credit card issuers, the liability for card-present fraud has shifted to the merchants.

For example, if you process a credit card that is fraudulent without using the EMV credit card machine, you (the business owner) are responsible for the costs that follow any data breach.

The following timeline The Timeline for EMV Chip Card Liability Shift in the US:

  • April 19, 2013 – Maestro shifted liability for international chip cards used in the US.
  • October 1, 2015 – Visa, MasterCard, American Express and Discover liability shift for POS terminals.
  • October 1, 2016 – MasterCard liability shift for ATMs.
  • October 1, 2017 – Visa, MasterCard, American Express and Discover liability shift for pay-at-pump gas stations, as well as for Visa and AmEx at ATMs.

What EMV Means for Merchants – You Need an EMV Credit Card Machine

Due to the switch in liability many merchant service providers have encouraged their customers to make a switch and upgrade to an EMV credit card machine. Adapting to the change in payment processing helps protect businesses from a potential liability disaster. Sure, you may not lose any customers if you don’t upgrade your system, but you are losing peace of mind as the merchant. If you have an eCommerce only business, this change does not necessarily affect you, as the EMV cards and machines are for in-person transactions.

10 Small Business Tips to Up Your Game 1024 469 ImplicitPay CO

10 Small Business Tips to Up Your Game

As a small business owner, you are probably aware of where your business could improve. Sometimes you’re just not sure how or where to start. Here are some tips to help you improve your small business.

These quick pointers should help you ‘up your game’

1. Sharpen your skills – Honing your skills is like sharpening a carving knife. We sometimes get so occupied with routine that we don’t take the time to “sharpen the knife.” Identify your strengths and work on them to improve customer service and innovate your product.

2. Set Goals – Business goals can be broad or specific. Be certain about what you want to achieve. Also, make sure that you measure and evaluate your success at regular intervals. Setting a timeline for these goals can help you follow through.

3. First things First – Prioritize and take up things that need your attention first. Certain goals are long term and may not need your attention right away. Write to-do lists. Make a simple list of short, medium, and long-term goals, follow it and adjust it constantly.

4. Time Management – Monitor your routine. Identify when you are at your productive best and create a daily plan. Use an organizer, know and meet your deadlines and stay focused.

5. Motivate your Staff – Talented and motivated employees can bring about major improvements to your business. Your employees need to believe in the company. Hire the right people for the job. Match jobs to candidates’ passion.

6. Networking – Networking with people from your field is necessary. Make time to meet up. You could also stay in touch via email and social media. Keep in mind that networking is about building trust and relationships, seeing how you can help others and get help in return.

7. Challenge Yourself – Do not let monotony set in. If something you’re doing doesn’t challenge you, then it doesn’t change you. Find challenges for yourself. Reinvent ideas, keep the hamster wheel in your innovation lab running.

8. Increase your Productivity – Use ‘The Rule of Two’. Accomplish two productive things in order of priority, once they are done, move your focus to the next two. That’s a great way to increase productivity.

9. Revamp your Product – The objective of product or service revamp for a business is to stay ahead of its competitors. The key to success is to keep creating value. Reconfigure and improving existing products and services, implementing solutions could be one of the many ways to keep adding value.

10. Be Patient – Nothing happens overnight, take the time to improvise and take on tasks efficiently. Have an eye for detail and execute tasks smoothly.

These simple changes can make a huge difference to your business.

How to make Impressive Designs 1024 1024 Diego

How to make Impressive Designs

Impressive Designs

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