Developing E-Commerce for Your Business

It appears that Britons love their online shopping. According to the Organisation for Economic Cooperation and Development (OECD), the UK out-shops the US, Germany and France when it comes to online shopping. This is encouraging for businesses starting out in the virtual world on commerce. Whether your business is already established as a bricks and mortar presence or you’re just starting a new business that will be strictly online, knowing that there is a strong customer-base online is one less thing to worry about.

So the e-commerce sector is thriving and you know it’s a good time to set-up your online store but now you have to decide how you’re going to go about choosing the right platform for your needs, The good news is that you don’t have to have any knowledge of HTML, graphics applications or know your Flash from your PNG files, as today e-commerce can be as easy as filling in a few online forms. The hard part is deciding among the many options you have.

There are numerous questions you must ask yourself before jumping into the e-commerce world. Do you want to have your site on your own server or use a hosted application? Many stand by the saying of ‘why reinvent the wheel’. A good point, considering all of the options out there that have been tried and tested. Do you want complete control over every aspect of your online store? If so, you’ll have to be confident in your abilities, or those of someone you hire, to ensure you stay up-to-date while allowing a great shopping experience for your customers.

Security for your customers is very important. Always ensure that your site uses SSL (Secure Socket Layer), which is the industry standard for online payments. You will also want a shopping cart software that is fast and efficient. Security and ease of use is one of the top experiences that online shoppers desire. In this virtual shopping world, your customer can visit another online store with a few clicks of their mouse.

There has been a steady expansion of the packaged e-commerce application over the last few years. Most of the well-know applications now offer a full set of e-commerce tools you can use to construct and manage a professional e-commerce site. Before deciding which route to take, make sure to shop around and ask the right questions of every business you speak with. At the end of the day you want an e-commerce site that is professional, secure, easily updated, and is customer-friendly. Your business is counting on it and so are your customers.

The Referendum and the GBP

Now that Brexit has finally arrived, it’s possible to dispense with the endless series of predictions and hypotheses related to currency issues and discuss the concrete reality of a post-referendum British pound. For many of us, it doesn’t take sophisticated forex software to predict that the GBP would suffer in the immediate aftermath of this landmark decision. In keeping with the assessments of virtually all analysts, the Pound initially experienced a tre-mendous pricing shock as it became increasingly clear that the referendum was swinging away from the “remain” camp towards a definitive “Leave” vote. As the tallying of votes neared to a close, investors fled from the Pound, causing its value to plummet to levels which have not been seen for the past several decades.

Fortunately for both investors and the economy at large, however, the Pound has begun its path to recovery. Coming off of an immediate post-Brexit low which involved nearly 11% be-ing shaved off the Pound, the British currency has experienced a largely optimistic rebound, sitting currently at nearly 1.33 GBP / USD. It will be quite interesting to observe how the GBP will react to international and domestic policy maneuvers in the upcoming weeks. A number of significant decisions are quite likely looming in the short term, including whether or not the Bank of England will issue a rate cut in an effort to reinforce economic stability in this volatile period.

Although much of British politics have been unpredictable and turbulent, experts are in agreement that the GBP is behaving within clearly defined and expected patterns, at least for the moment. Given the fact that the UK has expressed that they will not initiate divorce proceedings from the EU until the beginning of the new year, it stands to reason that this de-lay will likely mitigate some of the risks associated with this currency. That being said, it is, perhaps, implausible to believe that the GBP will recover significantly or even approach pre-Brexit value until some sort of decisive announcement is made relating to not only the time-line for the pending Brexit, but also the finer details which will properly illuminate how this his-toric moment will influence the political, economic and cultural spheres of the country at large.

Although many experts continue to express their skepticism regarding the short-term outlook for the GBP, it may be worth keeping a close eye on to see if any forthcoming politi-cal actions catalyse investor enthusiasm. For those with industry-standard forex software, a concise, up-to-the minute evaluation would be immensely interesting to observe

What exactly is Forex Trading?

The chances are good that most casual investors have, at some point or another, heard the term “Forex trading”. Many others are well aware what the term “forex” means, but simply had no idea that currency could be traded in similar fashion to stocks and bonds. With that in mind, we’ve decided to create this brief primer which should, hopefully, illuminate some of the more complex concepts and ideas within the forex marketplace.

At its most fundamental level, forex trading involves offering a single unit of a currency, be it the British Pound, US Dollar, etc., in exchange for a unit of a differing national currency. Be-fore these currencies are traded, a price is agreed to at which the units will be exchanged. Like bonds and stocks, currency is traded in a variety of marketplaces all over the world. What you may not have known, however, is that forex trading is by far the most heavily trad-ed market in the entire world. In fact, the estimated value of all daily forex transactions is ap-proximately $5.3 trillion.

The forex markets were created largely to facilitate international trade. In the era before the Euro, European forex trading was a highly active marketplace. Today, forex remains a hive of activity even with a common currency among the bulk of European nations. Savvy trad-ers attempt to speculate how future prices for currency will be affected by various parame-ters, be it political turbulence, economic news or other influential forces. Just like the tradi-tional stock market, the goal is to earn a profit by buying a currency at a low price and selling it when it is valued much more highly.

One of the primary distinctions between the forex marketplace and the more traditional stock markets is that forex trading occurs 24 hours a day, 5.5 days a week. This is due to the fact that there is no centralized trading hub for the forex market. Every forex transaction taking place today occurs through a sophisticated computer trading system. Although this may sound somewhat unreliable, it’s important to remember that these systems are used by countless professional traders on a daily basis. Believe it or not, there are no physical forex exchanges in existence!

Given the fact that only small changes seem to occur in the price of various curren-cies, forex traders often engage in extensive leveraging to maximize their profits. Leveraging can be thought of as borrowing large amounts of capital in order to engage in massive trans-actions within the forex marketplace. If you are trading through a large brokerage firm, it’s not uncommon for 1000:1 leverage to be offered to those interesting in taking it. That being said, it’s important to remember that, while leveraging offers the possibility of big gains, it can also result in crippling losses!

Although this may sound like a unique and exciting world, it’s important to remember that forex trading can be an unforgiving world for novices. Before beginning your pursuit into forex trading, it will well be worth your time to properly educate yourself in the fine workings of this sophisticated system. Without this knowledge, you may find yourself out of luck and out of cash!

Fortunately, a variety of powerful forex trading platforms are available for those who are willing to take a step forward and venture into this fascination world. In fact, many forex simulators are also available for individuals who would prefer to test their strategies with fake currency before investing their own funds. Best of your luck with your adventures into forex trading!

Banks close branches as things go Digital

The digital revolution has fundamentally changed how we think about a surprising number of facets of our daily lives. Whether it’s mail service, grocery store visits or retail shopping, there are no shortage of “substitutions” for experiences which, previously, had in-volved “real” interactions. Now, however, a new era of online security and digital perfor-mance has begun to threaten the time-honoured tradition of visiting the bank for deposits, withdrawals and consultations.

A number of high street banks have begun announcing that they will cease or dramatically reduce operations in brick and mortar locations across the country. Lloyds Bank, for exam-ple, has recently declared that they are planning on closing nearly 200 branch locations due to a decrease in in-store patronage and the rising costs associated with maintaining physical branch stores.

Lloyds is not alone. Barclays, HSBC, and RBS have each announced a series of layoffs which, they claim, are due in large part to the shifting nature of bank transactions and the in-creasingly widespread adoption of online banking as a credible replacement for in-store transactions. Although it may seem somewhat callous to believe that high street banks are terminating employment opportunities in order to preserve their financial livelihood, it is im-portant to remember that the banking industry has been just as affected by start-ups and dis-rupters as various other marketplaces around the world. Given the growing number of online-only banking systems, each of which requires substantially fewer charges and expenses for account access, it has become an absolute necessity for the banking giants to change with the times.

Only time will tell if the high street banks can survive the competition posed by fast-moving startups such as Mondo and Curve Card, each of which has their sights set on extracting market share from the titans currently dominating the industry. What is for certain, however, is that technological innovation and change are now undeniable facets of the banking indus-try as much as they are any other. Consumers will, it is hoped, be the ultimate benefactors from this dynamic and volatile period of growth and increased competition. That being said, it is far too early to gauge precisely how the finance industry will cope with such existential threats to its firmly embedded methods of operation. Currency exchange software and other services which may previously have been offered will likely continue to exist. For those seek-ing a viable currency exchange softwaresolution, a number of attractive options are current-ly on the market today.

Benefits of FOREX

The foreign exchange marketplace is arguably one of the most fascinating, complex and simultaneously intimidating trading environments on the planet. A decentralised, round-the-clock world of buying and selling, foreign exchange remains a somewhat opaque arena for those who have not been properly acquainted with the fine details of its workings. How-ever, those who are willing make the substantial time investment required to master its opera-tions will likely uncover many benefits.

Perhaps one of the most appealing perks of the foreign exchange marketplace is the oppor-tunity to practice and refine new strategies without any upfront financial investment. After selecting a preferred trading platform, both amateur and professional investors will gain the ability to undertake mock-trading. For those who have never traded within the foreign ex-change marketplace before, this will serve as an excellent hands-on introduction. Profes-sional investors will find such practice to be an excellent vehicle for simulating the effects of newly conceived investment strategies.In fact it is quite possible that an investor may actively trade in both a legitimate account as well as a practice account, ensuring that their real world trades are backed by extensive experience within simulators.

Investors who are savvy with technology will find the foreign exchange marketplace to be particularly stimulating due in large part to the fact that the trading platforms powering this marketplace are constantly evolving. The decentralised nature of foreign exchange has re-sulted in the growth of trading platforms in countries around the world, each of which Is ac-tively competing for the attention of investors. With this in mind it should come as no surprise that platform developers are constantly seeking to gain an edge over their competitors. Such competition can only serve to benefit investors. Instead of being forced to navigate ageing platforms commonly found in the equities and stock markets, foreign exchange investors will enjoy an intuitive and engaging experience powered by cutting-edge software.

For those with an appetite for risk, foreign exchange offers many benefits, namely an exten-sive leveraging system by which large amounts of investment capital can be accessed with relatively small initial deposits. It is quite common for investors to trade well over four hun-dred times the amount of capital they currently have available. While such a system obvi-ously comes with its fair share of risks, the rewards cannot be ignored. Far from an anomaly, leverage of this nature is a commonly observed phenomenon within the foreign exchange marketplace.

As stated previously, there exists fierce competition amongst platform developers seeking to attract new clients. Because of this, a growing number of loyalty programs now exist which provide financial rewards for investors who make repeated trades on a single platform. This is likely to be a refreshing change of pace from traditional online stock platforms, where hefty charges are levied against every trade. In fact, there now exist loyalty programs within the forex environment where investors are compensated for each trade they make.

Last, but certainly not least, among benefits found within the foreign exchange marketplace are the numerous opportunities for free education and consulting services offered by today’s leading forex platforms. In an effort to dispel notions that forex is a cryptic and undeciphera-ble world, trading platforms are working diligently to help new investors master the basics of trading as quickly as possible. In recent years, transparency and engagement have become core principles of operation.

As you can see, there are no shortage of benefits available to those seeking admittance into the exciting world of foreign exchange. Now is the time to begin your own personal journey into a fascinating niche of today’s financial services industry. Good luck, and happy invest-ing!

Risks and Benefits of Foreign Exchange

The foreign exchange markets remain some of the most cryptic and complex arenas for many investors. In fact, a substantial number of investors choose simply to avoid the foreign exchange markets entirely in an effort to stave off what they believe will be significant finan-cial loss due to complex, somewhat dubious trading schemes. That being said, there are nu-merous rewards available to those who do take the time to properly understand how this fas-cinating marketplace functions! What that in mind, we’ve created this brief guide of the risks and benefits of foreign exchange trading for those who are ready to learn more about this often misunderstood industry.

Risks and Rewards

Given the relatively small pricing fluctuations taking place in currency pairs at any given time, it is quite difficult to reap large profits without a substantive initial investment. Because of this, many trading platforms allow users to leverage their positions with significant amounts of ‘borrowed’ capital. With big investments come big rewards and, in arena such as foreign ex-change, big losses. Such extensive leverage paves the way for large financial losses for those who are unable to convert this borrowing into a profit.

The fact that the marketplaces remains open for 24 hours a day most days of the week also poses significant risks and rewards for those involved in trading. One on hand, the opportunity to develop intricate and sophisticated trading strategies reinforced by signals, algorithms, etc., can provide ‘non-stop’ opportunities for fiscal gain. However, without properly implementing protective stop-loss procedures, it is also possible that investors may suffer catastrophic losses while they sleep. With this in mind, it is plain to see how the accessibility of this marketplace is also one of its most dangerous characteristics.

Playing It Safe

Fortunately, a number of trading simulators and forex software packages are currently avail-able which allow investors to practice and refine their strategies while using simulate currency. These tools are ideal for new investors seeking to ‘learn the ropes’ of the marketplace and established veterans who are crafting and fine tuning strategies for future use. As a general rule, foreign exchange investors, particularly new arrivals to the arena, should think critically about their aims and objectives before initiating trading in forex software packages in order to ensure that they are adequately prepared for what is to come.

Why Use Forex Trading Software?

Even if you are only casually interested in the world of foreign exchange trading, you’ve probably noticed that this particular branch of the financial marketplace relies heavily upon various software platforms in order to keep traders connected to the forex exchanges. The decentralised nature of the forex marketplace has transformed it into a unique environment in which investors and traders can access forex exchanges on an almost 24 hour basis. With that in mind, it could be argued that forex trading software acts as a powerful administrative and strategic resource for those who are active here.

Perhaps one of the most significant advantages of forex trading software is the ability for in-vestors to both view historical trends and simulate the effects of new investment strategies on current marketplace activity. The scope and complexity of the foreign exchange market-place has often made it seem inaccessible or threatening for those seeking to break in. Using forex software, many of these hurdles can be overcome quickly and allow novice traders to explore what the marketplace has to offer.

Forex trading software is also an excellent defence against unexpected volatility which may occur during the off hours when investors are either sleeping or away from their computers. Using a series of automated protocols, investors can develop their own pre-programmed ‘re-actions’ to any number of market conditions. Were these conditions to be fulfilled during ‘off-hours’, the software could act on its own to engage the strategies set forth by the investor. For some, these automated processes act as a form of much-needed insurance in a market-place which has gained much notoriety for its dynamic shifts.

For some, the benefits of forex trading software lie in the “non-human” nature of its process-es. Like it or not, our emotions continually serve as a triggers, compelling us to make deci-sions or (in this case) engage in trades which may or may not actually serve the best inter-ests of our agendas. Yet another benefit of these automated trading processes is that they can effectively limit human participation to a certain extent and act as an impartial executor of the trader’s intent. While intuition and instinct obviously have their place in financial trading, the automated systems provided by many forex trading platforms allows those who may have difficulty separating their emotions from a trade to keep a healthy distance from their earlier strategic decision making.

Perhaps a final benefit of foreign exchange trading software which should be mentioned is the fact that these tools are offered at a variety of price points, allowing individuals from across a broad array of experiences and professions to get involved if they so choose. For example, students wishing to learn more about the marketplaces can use some of the less expensive trading platforms and explore the market simulators provided within them. Like-wise, trading professionals can invest in much more expensive packages and reap the benefits of extensive automation and research tools to help maximise their continued success. Regardless of where you may be at in your knowledge of or interest in the foreign exchange marketplace, it will definitely be worth your time to download a trial version of any of the leading software packages available today. These tools will help alleviate much of the initial con-fusion that traders feel when entering the foreign exchange arena for the first time. Trading software has helped to bring an increasing number of traders into the foreign exchange mar-ketplace, and for good reason. Using these tools, it is entirely possible for novice traders to gain deep insight into the marketplace and for experienced traders to maintain their professional careers.

Remittance explained

In this era of globalization, international business expansion and a 24/7 digital economy, it should come as no surprise that a vast trove of innovation is occurring in tandem with these widespread shifts. Although remittance has long been an important tool for individuals seeking to transfer money to friends and family in foreign countries, the transformation of the internet into the ubiquitous phenomenon it has become has fundamentally changed the means by which remittance operates. For many individuals, online remittance tools have become an important element of both personal finances and family dynamics. The ability to instantly send money abroad has upended nearly all of the traditional paradigms within which remittance had once operated.

That being said, how exactly would you define remittance? Simply put, the act of remittance can be thought of as a transfer of money from an individual in one country to the bank ac-count of an individual in another. For lack of a better term, remittance can be defined as a foreign deposit. The most common manifestations of remittance can be witnessed in the lives of migrant workers, many of whom devote a portion of their paychecks to family members in their country of origin. To send this money back to their family, these workers use remittance services.

In the pre-internet era, remittance proved to be quite costly for customers. High service rates meant that customers were often forced to spend a substantial portion of their check in charges and fees even. Essentially, customers were paying for the ‘privilege’ of sending money abroad. Today, however, the high density of remittance companies vying for customers online has drastically reduced the overall fees charged to consumers. Now, more than ever before, remittance has become a consumer-friendly tool.

Using online remittance services, customers can specify to whom they will be sending money and from which personal account the money should be transferred from. Thanks to highly secure systems, customers can by and large rest assured that their transaction will be shielded from cybercrime. Although remittances remain a less expedient form of money transfer than a wire, they are nevertheless quite rapid. In many cases, individuals can expect their money to complete its journey within a matter of days. Given the fact that online remittance is significantly less expensive than traditional remittance with respect to service fees, users can expect that their experience with these innovative digital platforms will maximize service without encroaching on budget.

Perhaps the most compelling element of online remittance is the competition which exists within this industry. The fact that so many businesses are vying for customer attention means that service and performance can make the difference between success or failure for these enterprises. Regardless of who wins or loses in this battle, the customer always comes out ahead. Those who are interested in learning more about online remittance are encouraged to browse the internet for various reviews and surveys of the platforms available for use today, Here, customers will find all of the information they need to make an informed decision as to whether or not online remittance is, indeed, the right service for them.

It is also important to mention that the future of remittance will likely appear markedly different than it does today as technology continues to evolve and new ideas further revolutionize this critical industry. Staying on top of the latest remittance trends is a powerful tool for those who are eager to learn more about precisely how the world of finance will be shaped by the digital renaissance.

PayPal seeking to increase mobile usage

The trend towards mobile engagement and ‘mobile-first’ business strategies is continuing virtually unabated for the vast majority of tech companies operating today. Even the largest global influencers, including the likes of PayPal, have made it clear that their next iteration of consumer engagement strategies will heavily rely on mobile-integrated design and deployment.

In reality, this news should come as no surprise. Recent studies have shown that a substantial majority of internet consumers now complete their online shopping using their mobile or portable device, such as a tablet. Although desktops and laptops (now considered ‘traditional browsing tools’) remain a potent force in the world of e-commerce, continued changes instigated by search engine giants such as Google (who has geared search engine page rankings in favour of mobile-optimised websites) have delivered a strong message to web-based companies that those who ignore mobile browsers and consumers will be heavily penalised.

Regarding PayPal, the company has made it clear that their primary objective remains to become an indispensable, highly utilised tool favoured by the general public at large. PayPal recently announced that 2016 will include heavy investments in mobile deployment strategies, new security measures and a host of other improvements, all of which will, it is hoped, help the company overshadow its competitors and become the de facto payment tool for individuals around the world.

The remittance software industry, which includes PayPal and a host of other applications, remains a highly competitive arena, even when considering PayPal’s historic dominance. The fact that so many new companies can make their mark here, either due to ease of use, security or convenience, has proved to be a sharp reminder for PayPal that their size and legacy could easily diminish if the company does not continue to adapt to the changing nature of the internet and the dynamics of consumer interaction.

As it stands, PayPal currently remains the leader in global remittance software by a hefty margin. In Q1 alone, the company processed well over $3.2 billion US in consumer transactions. Additionally, the company added well over four million new active accounts in Q1 alone. In the eyes of PayPal’s corporate leadership, however, this is just the tip of a much larger iceberg. More information regarding PayPal’s proposed mobile updates will likely be made available to the public in the upcoming months.

Currency Exchange for Summer Holidays

It seems that something always comes between you and the relaxing vacation you’ve been fantasising about for the past several months. Whether it’s work, family commitments, or whatever other obligations may arise, luck is rarely on the side of the busy working adult when it comes to planning their next summer holiday. This summer, however, poses its own series of unique challenges, most notably in the form of the Brexit vote, a referendum which, regardless of its outcome, is destined to wreak havoc on one of the most important institu-tions for travellers when it comes to preparing for a pending vacation – currency exchange.

The topic of currency exchange has gained a new degree of relevance as the outcome of the Brexit vote becomes increasingly uncertain. Although markets did tremble slightly as the “Leave” campaign began ramping up their efforts to woo would-be voters, the full effect of their actions is now being felt not only politically but fiscally as well. The pound has plummet-ed in recent weeks over fears that Brexit will result in a massive devaluation of the domestic currency. Although it is obvious that a host of other international parameters can also be con-sidered key influencers dictating the value of the pound, Brexit has loomed largest over these examinations.

So, as a would-be traveler, the question you are most likely facing is this: is it better to ex-change currency now, embracing a lower exchange rate while avoiding the potential of a massively diminished currency following the Brexit vote, or should you hold out in hopes of a strong British pound (due most likely to a successful ‘Remain’ vote). In situations such as these, it is, perhaps, best to listen to the experts. Goldman Sachs weighed in on the issue, stating, “A vote for the UK to exit from the EU is an event that would increase uncertainty, weigh on the UK outlook and raise concerns of foreign investors – potentially interrupting the flow of capital to the UK, sending the pound much lower.”

Of course, so much of this evaluation is based purely on speculation. To fully understand how summer travellers will be affected by Brexit, the simple truth is this – we have to wait for the final results of the voting. There has been an unprecedented level of speculation, postur-ing, and theorising regarding the consequences of the pending vote, but these dialogues are, on the most fundamental level – theories. Given the fact that there is no precedent for a Brex-it-esque scenario, it is virtually impossible to state with confidence what the concrete logistics of such an outcome.

That being said, it seems reasonable to assume that, if Brexit did occur, summer travellers may have far more on their minds than simply where they will be travelling during their holi-day or what their preferred currency exchange rate may be. Experts are theorising that a successful Brexit push could initiate a currency free fall, the likes of which have not been seen for decades. With that in mind, both summer travellers and workers alike may consider exchanging a reserve of currency simply so as to ensure that they are prepared for whatever events may unfold the evening of June 23rd. And, for those who are ready to embark upon their holiday in the days leading up to Brexit, consider it a worthwhile piece of advice to pay close attention to the daily shifts of the foreign exchange markets, as rates are likely to shift dramatically on a moment-by-moment basis during this tense period.

Category: Money transfer