Personal finance has become one of the biggest concerns for families all over the world. According to the OECD, the household savings rate has declined in all major economies in the past decade or so. Whether it's the millennials or the Gen-Z community (who are just entering the workforce), a healthy savings habit and a debt-free existence have become a major life goal.
The use of credit cards is becoming increasingly popular nowadays since they have attractive rewards and rebates arrangement. But have you ever thought of a scenario where the recipient does not accept credit cards? Can you still use credit card to pay? It may have been a no, but now, with Reap, it is definitely a yes.
Credit card is an alternative means of payment which makes payment very convenient, especially online payment. With a credit card, you can slim your bulky wallet . Indeed, most of the time, what you need is merely a cardholder. That being said, the temptation to pay instantly with credit cards can be very hard to resist.
If you don’t know how to start managing your finance, set a goal. How much do you want to save every month? What number do you expect to see in your bank account upon graduation?
If you come across a fancy restaurant or some exotic places, what would you normally do? We will, of course, almost instinctively take a photo of it and share it with our friends or family, won’t you? Reap notices the impact of social media on the way we communicate and keep connection with each other. That’s why we have launched a referral system. Together we can build a Reap community and enjoy the benefits it brings us.
It’s impossible to browse the news without seeing at least one article detailing the consequences of the US-China trade war that have been escalating since 2018.
Since January this year, the Hong Kong Monetary Authority has issued 8 new virtual banking licenses, with the latest batch released last week.
As business owners, taking on debt can be an effective of managing your cash flow. Whether you need it for business expansion (eg. hiring more people, buying more supplies, getting a bigger office space), or simply to provide peace of mind in case of unexpected delays in customer payment collection, external capital injections are an important part of operating any business.
In Hong Kong and Singapore, credit cards continue to dominate as the payment method of choice for almost all online transactions. This makes sense as unlike other payment methods (eg. cash, bank transfers, checks) credit cards come with a unique combination of security, rewards and convenience.
Reap allows you to pay any recipient using any credit card, sending funds securely from the card directly to the recipient’s bank account, without the recipient needing to set up any kind of merchant account, processor, payment gateway or point-of-sale device. We have received a lot of questions in the past months about how this works, and so today I wanted to explain more about the model behind the scenes.
Let’s be honest, remembering to pay your recurring bills and expenses is not the most exciting task in the world. What if there was a way to automate your large business expense payments similar to the way your phone bill, Netflix or Spotify subscription are paid?
If you have an immediate cash flow problem, then the quickest fix might be a short-term financing solution. It’s the fastest way to get money in your bank account if you don’t plan on receiving any large revenue payments within the next day. Find out in this article, the 3 best options for your business in Hong Kong for short-term cash flow solutions.
Automation is the way of the future, allowing companies to focus on running their business rather than spending time with manual processes. Whether you are looking to increase the efficiency of your accounts payable department or if you are just getting started in business, the benefits of automating your A/P far outweigh the costs.
For companies that accept credit and debit card payments, a breach of confidential customer data is among the most serious risks they face. Failure to protect data leads to financial costs, customer defections and loss of reputation all of which affect bottom line and public perception.“Tokenization” is a super-buzzy payments term and what it does is pretty simple adds an extra level of security to sensitive credit card data.
Digital payments remain at the forefront of tech progress in the banking industry. But with the advancement of payment tools, a variety of payment platforms, and hundreds of payment providers, the security of digital payments remains a top priority for consumers.
As your small business grows, your management needs will, too. You’ll have more employees, more invoices to pay, more accounts receivable. And you may have too many authorized users on your small-business credit card. At that point, it may be time to change from a small-business card to a corporate credit card.
The 1st FinTech Award to an online Credit Card Payment Platform that allows all businesses to pay any operating expenses using credit cards to improve cash flow, maintain liquidity and grow their business.
In an environment of growing competition for small businesses, establishing processes around cost controls and spending visibility is an integral part of the path to profitability. Investors, regulators and long-term customers have expectations and demand for more disciplined spending in the relevant areas and growth oriented businesses are now turning to credit cards (commercial and personal) to help with their expense management process.
According to PRNewswire.com, virtual card payments make up 50% of all B2B payments. Suppliers are accepting virtual card payments now more than ever before, but many still rely on outdated payment methods because they believe the fees don’t outweigh the benefits. Despite the most common objections for refusing to accept card payments, virtual cards offer clear benefits suppliers simply can’t ignore.
In the first article of this series we talked about why businesses should worry about measuring cash flow instead of profit. Today, we want provide a walkthrough of how small businesses can actually measure cash flow with minimal accounting knowledge.
Small and medium sized business owners often will face this question when they have achieved a certain level of scale, and are considering options to finance their continued growth.
The general definition of working capital is the amount of money used for financing the day-to-day operations of a business. However, what does this definition actually mean in practice? Is it the amount of money in the bank account of your business? Is it the amount sitting in the cash register?
82% of businesses fail due to poor cash flow management. Especially If you are a new SME (where cash management is especially challenging), it should be a key area of focus as you get your business up and running.
As a nation with a relatively smaller domestic population, Singapore businesses have always thrived on being able to enter global markets. This ongoing trend of internationalisation is largely driven by Singapore’s advancements in innovation
Startups live and die by their cash. According to a recent CB Insights study of 101 startup failures, running out of cash is the second biggest reason why startups fail, ahead of having the wrong team, competition, and pricing issues.
Whether it’s rent, utilities, equipment or salary -there are expenses, both small and large, to manage as part of the business. To support daily operations and potential business expansion, you should ensure that you have sufficient cash on hand to run your business.