Day: October 4, 2019

How to Accept Credit Card Payments

Credit and debit cards are a common payment method favored by many customers. It has become an expectation that your business will accept cards, a standard you are all too familiar with if you must repeatedly explain to customers that your business accepts cash only. Luckily, accepting credit and debit cards is as easy as partnering with a credit card processing company.

This guide will walk you through the ins and outs of the credit card processing industry, and highlight the important factors you need to look for when choosing a card processor. It will also cover the different credit card processing platforms, from point-of-sale systems to mobile devices.

How do you accept credit card payments for your small business?

Accepting credit and debit cards begins with selecting a processor. To choose the one that is best for your business, it’s important to understand the different types of companies that are out there. In addition, you should always look for a credit card processor that offers low rates, few or no fees and month-to-month contracts.

Unfortunately, the credit card processing industry is a crowded field that can often be confusing to navigate. With varying pricing models, complicated fee structures and different types of processors for different platforms, it can be a gargantuan task to find the right partner for your business. Breaking the process down into several steps can help simplify your decision-making:

  1. Determine the type of processor you need. Choosing the type of credit card processor you want to work with is based on two main factors: whether you want to partner with a service for individuals or businesses, and your average monthly volume of credit and debit card payments.
  • If you’re an individual accepting payment from a handful of trusted sources, using a peer-to-peer application like Venmo is

Why IoT Will Have a Big Impact on Health Care

The concept of the Internet of Things (IoT) entails the use of electronic devices that help to capture or monitor data and are linked to a public or private network, empowering them to mechanically initiate certain events.

In this article, we will study the context of IoT in the health care industry and come across the myriad of benefits it has bestowed upon it.

Internet of Things and the health care industry

Before the arrival of IoT, the patient’s interactions with doctors were restricted to physical visits and tele and text communications. There was absolutely no way in which the doctors could continuously monitor a patient’s health and suggest treatments accordingly.

However, with the introduction of IoT in the health care sector, patient care has undergone a paradigm shift, making superlative care accessible to all. The amazing IoT-enabled devices have made remote monitoring possible, empowering the doctors to deliver superior health care. It has also facilitated patient engagement by making interactions with doctors much more convenient and efficient. Furthermore, remote monitoring has greatly diminished health care costs by reducing the length of hospital stay and preventing re-admissions.

With the use of this technology-based health care system, the quality, and efficiency of treatments have improved. Today, there are numerous applications of IoT in health care that is benefiting patients, families, hospitals and doctors in a big way.

Benefits of IoT in health care

Simultaneous Reporting and Monitoring

Real-time monitoring of patients helps in dispensing quicker and more effective treatment. Reporting emergencies through a mobile app allows doctors to access information faster and offer high-quality care much before the patient reaches the hospital.

A smart gadget is connected to a mobile app that collects medical and all other necessary health-related data, such as oxygen and blood sugar levels, blood pressure, ECGs, weight,


6 Best Practices to Follow When Applying for a SMB Loan

Applying for a small business loan can be easy when done correctly, but there are many mistakes that small business owners make when they start the business loan application process.

Mistakes in a business loan application draw out the process and can even result in your loan application being declined. In this article, I discuss the best practices and common mistakes that are made in order to help business owners avoid them when applying for a loan.

Taking the appropriate steps, and avoiding these mistakes will save you time, effort, money and many headaches!

Understand your options

More than ever, business loans are readily available for small business owners. However, that doesn’t mean that every option is optimal for your business. Before starting your research and looking for a business loan, first spend time planning what your business loan proceeds will be used for. Will you use the money for equipment? Are the loan proceeds going to be used for working capital? Do you have an expansion plan that requires funding? This is a very important first step before analyzing potential business loan options.

Why is this one of the most crucial steps? This is because you want to search for loan structures that align with the use of proceeds. An example of this would be the following.

Nancy owns a retail store that needs to purchase inventory for the holiday season. The inventory that Nancy purchases involves a three-month period from the time the inventory is ordered to the time that it’s sold. Once the inventory is sold, Nancy won’t have to use an inventory loan until the next holiday season.

In this situation, Nancy wants to search for a business loan that she can repay in three months and use again for the next holiday season. Nancy should


How to Prepare for a Third-Party Risk Assessment

Picture this: You’re looking through your inbox on a busy morning and find an email from your biggest customer with pages of questions for you to answer on your cybersecurity posture – the technology you have in place, how you train your team, how often you test your systems and more. It’s a long questionnaire, you’re not sure how to answer the questions and you’re at risk of losing the contract if you don’t provide the right answers. What do you do?

This request is called a third-party risk assessment, and it’s becoming more common for small businesses. Filling them out – and having the security measures in place to answer the questions correctly – is increasingly a part of life for small businesses. In this article, we’ll cover what you need to know about third-party risk assessments, including:

  • What a risk assessment is and why they are happening
  • Goals and components of a risk assessment
  • Results of successful (and unsuccessful) assessments
  • How to prepare for and complete an assessment

What is a risk assessment?

At its core, a risk assessment is a thorough review of the functions, policies and processes that an organization has in place, either internally or externally, and what risks they introduce to an organization. In a cybersecurity risk assessment, this typically means evaluating the risk of a cyberattack or data breach, but risk assessments can also cover compliance, operational and competitive risk. Risk assessments are frequently driven by regulatory or compliance needs, but increasingly, even non-regulated industries are beginning to evaluate risk.

A company can run a risk assessment of its own internal processes and procedures, but large businesses are starting to understand how their small business vendors’ cybersecurity posture impacts them, and are increasingly running risk assessment of their vendors. This means B2B small