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.
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.
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.
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.
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.