bank account – Les Couleurs De Luce http://lescouleursdeluce.com/ Fri, 18 Mar 2022 18:04:41 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://lescouleursdeluce.com/wp-content/uploads/2021/08/icon.png bank account – Les Couleurs De Luce http://lescouleursdeluce.com/ 32 32 How to Choose a Reliable Bitcoin Payment Service Provider – CryptoMode https://lescouleursdeluce.com/how-to-choose-a-reliable-bitcoin-payment-service-provider-cryptomode/ Fri, 18 Mar 2022 18:04:41 +0000 https://lescouleursdeluce.com/how-to-choose-a-reliable-bitcoin-payment-service-provider-cryptomode/

Bitcoin is not the first cryptocurrency, but its popularity has grown significantly over the past few years.

El Salvador has made Bitcoin legal tender, and Tesla and Xiaomi already accept it as a form of payment. This shows that the crypto industry has a long way to go before it can compete with some of the most well-known companies in the world, such as Amazon and Google.

It’s clear to retailers that innovation is inevitable and they need to evolve with it. It is because of this that a Bitcoin payment gateway has become necessary for modern businesses.

The Three Most Critical Reasons for Accepting Crypto Payments

Why would a business owner want to integrate this option?

  1. The total number of cryptocurrency holders is growing rapidly – ​​over 300 million people own BTC, USDT and other digital purchases. This is why your target group can experience a dramatic increase.
  2. Crypto billings are cheaper because no third parties are involved. Commissions on bitcoin transactions are much cheaper than those on debit/credit cards.
  3. BTC Payments provide the highest level of security for merchants and customers. The process is unrecoverable.

The list of benefits is much longer and many companies already know how this type of technology can help them.

How to start receiving crypto payments

Although the fear of change is a significant obstacle for business owners, incorporation is actually quite simple:

  1. Find a trustworthy bitcoin payment service provider (e.g., B2BinPay).
  2. Create a bitcoin wallet. B2BinPay offers merchants a secure way to access their wallets and business owners a way to accept cash directly into their bank accounts. At market prices, a service handles crypto payments and converts digital currencies into fiat currency of your choice. The service then deposits the fiat into your bank account, which you can use.
  3. With all-in-one solutions, accepting digital currencies is easy as experts connect APIs and do all the work for you.
  4. Traders receive round-the-clock assistance to help them overcome problems and obstacles as quickly as possible.

If you want to take your business to new heights, B2BinPay is the answer. More than 800 other cryptocurrencies can be accepted by companies, thus expanding the customer base.

Options for Bitcoin Owners

For example, there are several choices. Cryptocurrency exchangers are included in this group. There are also those who see the value of Bitcoin and want to invest in it. What are the possible choices?

  • Maintain BTC as an investment tool. Bitcoin’s annual growth rate is 472%.
  • Additionally, you can use BTC to purchase products and services. More than 23,000 businesses worldwide accept the first digital currency as a billing method.
  • With fairly low costs, exchange Bitcoin for other cryptocurrencies (Ethereum, Stellar, and Cardano).

B2BinPay Wallets are versatile and extremely secure, acting as a gateway to the world of cryptocurrency.

Looking to advertise? We will be happy to help you publicize your project, your company or your service. CryptoMode produces high quality content for cryptocurrency companies. To date, we’ve provided brand visibility for dozens of companies, and you can be one of them. All our customers appreciate our value for money ratio. Contact us if you have any questions: [email protected]

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Revolut will offer payment services to refugees fleeing Ukraine https://lescouleursdeluce.com/revolut-will-offer-payment-services-to-refugees-fleeing-ukraine/ Mon, 14 Mar 2022 11:41:28 +0000 https://lescouleursdeluce.com/revolut-will-offer-payment-services-to-refugees-fleeing-ukraine/ Revolut, the global financial super app with over 18 million customers worldwide, offers payment services to all refugees, regardless of nationality, fleeing Ukraine following the Russian invasion.

To ensure those displaced by the invasion have quick and easy access to their money, Revolut has relaxed many of the requirements needed to create an account as well as a number of exchange and top-up fees.

More than two million refugees have already crossed Ukraine’s borders in search of safety, many with limited possessions and documentation. In order to purchase basic necessities, quick and easy access to cash has become imperative for thousands of families. Revolut allows those who have crossed its borders to access their money by linking the app to their Ukrainian bank account, opening up a corridor for easier access to money. Revolut offers payment services to anyone fleeing Ukraine, providing access to additional currencies and savings mechanisms.

The standard account has no monthly fees and can be used to send/receive money as well as to exchange currencies. The Revolut card will be able to be used anywhere in the EEA and Ukraine, with a limit of €1,500 per day per outgoing bank transfer and Revolut peer-to-peer. Friends and relatives already in Europe will also be able to transfer money to them quickly and securely. Standard plan fair usage limits apply.

The creation of an electronic money account in the EEA generally requires proof of a right to reside in Europe. With many people displaced by the invasion unable to provide this information due to a lack of documentation, Revolut has relaxed this requirement to ensure that as many refugees as possible can open an account quickly and access their funds. Although access to accounts has been made easier, Revolut has put in place all the necessary measures, via a dedicated team, to ensure that regulatory requirements are properly followed and met.

Once their Revolut account is created, those fleeing Ukraine will be able to link any Ukrainian bank card to their Revolut account and can then immediately begin topping up their account in various currencies. To support this initiative, Revolut is also waiving a number of currency transfer fees to ensure there are no additional costs for those displaced by the invasion who exchange their Ukrainian hryvnia to another. currency.

Vlad Yatsenko, co-founder and CTO of Revolut, said: “With the war in Ukraine having already displaced more than two million people, we felt it was imperative to help those most affected by providing a service that gives them quick and easy access to their money. . Bank transfers are often slow and expensive, so we hope this Revolut initiative provides a simpler alternative. I am extremely proud to be part of a UK fintech that can quickly help the people of Ukraine when needed.

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First-time homebuyers: Down payment assistance programs available to eligible individuals https://lescouleursdeluce.com/first-time-homebuyers-down-payment-assistance-programs-available-to-eligible-individuals/ Sat, 12 Mar 2022 14:15:12 +0000 https://lescouleursdeluce.com/first-time-homebuyers-down-payment-assistance-programs-available-to-eligible-individuals/

By Johanna Gomez, Lisa Hamilton and Jenny Rodriguez

UF-IFAS Osceola County Extension Services

Down Payment Assistance (DPA) programs help first-time home buyers with loans or grants that reduce the amount they need to save for a down payment. There are more than a thousand of these programs across the country, many of which are run by local governments.

DPA programs may vary by location. If you’re considering buying a home and are looking for these types of assistance, you need to learn more about what’s available in your area, the requirements, and if it’s the right choice for you and your family.

Types of ODA: In general, most PAD programs will be interest-free, can be given as a grant or loan, and the buyer will have to follow the guidelines and requirements. For example, this type of assistance can be:

A grant or donation that never has to be repaid if you qualify under program guidelines, or

A second mortgage. In this category, you can have a combination of a loan that must be repaid alongside your first mortgage or a deferred repayment loan that you will only have to repay if you sell, move, or refinance to cash in the equity. of your property. Another type is a loan in the form of a second mortgage often for five, 10 or 15 years which is canceled over the years and only has to be repaid if you sell, move, rent or refinance your house before the duration of years established by the DPA program. are met.

Important facts to know: To qualify, most DPA programs will require you to be a “first-time home buyer,” meaning that to be considered you must be free of title for at least three years, and also:

  • Must be able to qualify for a mortgage through a lender;
  • Must qualify based on household income, household size, location of home, cost of home, financial status;
  • Must meet the minimum FICO (credit) requirement for the program;
  • Must have, for most DPA programs, at least some equity in your bank account;
  • To apply, most programs will require you to attend a course for homebuyers from a counseling agency approved by the U.S. Department of Housing and Urban Development (HUD), where you will receive a certificate of completion indicating that you have taken at least one eight-hour course. (For courses at the University of Florida/IFAS Extension, visit Upcoming courses visit us here University of Florida / IFAS Extension Osceola County)

Who is eligible? What types of loans are acceptable for down payment assistance?

Every down payment assistance program is different. Some will have income caps and may require the home to be located in certain areas within a certain price range. Qualifying will depend on where you live and what programs are available in your state, county, or city. To be rewarded, most DPAs will seek if:

  • Buyers have low to moderate incomes;
  • The home is located within the DPA program guidelines and within the allowable price range;
  • The home will be used as a primary residence and not as an investment (rental homes, second homes, or vacation homes do not qualify for DPA programs);
  • PAD is used with an approved mortgage program
  • You work with an approved mortgage lender who can run the loan program.

Almost all DPA programs require you to borrow from approved lenders. Most common loan programs such as FHA loans, VA loans, USDA loans and also conventional loans are authorized by DPA programs. A private mortgage referring to a direct purchase financed by a private source in most cases will not qualify for these government programs. Check your local DPA program websites for details.

Costs covered by down payment assistance: Since “down payment” explicitly refers to the initial amount you contribute to your home loan, some DPA programs will allow their funds to be used for your closing costs as well as a down payment. Others may not allow funds to be used for other purposes. When applying for assistance, contact your local DPA programs to see if closing cost subsidies are included.

And, if you live in Osceola County, there’s good news: The Osceola County State Housing Initiative (SHIP) Partnership Program is accepting applications:

To apply for the Osceola County SHIP program, visit SHIP Program Apply Here

Program requirements

  • Applicants must complete an 8-hour homebuyer course;
  • Obtain a pre-approval letter from a participating lender. See our list of preferred lenders here.
  • Not having owned or seized a house in the last 3 years;
  • Must contribute at least $1,000 of own funds toward purchase;
  • Must adhere to all program guidelines
  • $280,000 maximum purchase price of a single family home, townhouse or condominium in Osceola County.

Assistance levels are based on the maximum purchase price of the family’s income level. The family is required to attend post-purchase counseling within 6 months of the date of purchase. For revenue guidelines, visit: Osceola County SHIP Down Payment Assistance Program Flyer

Resources for Finding Down Payment Assistance Programs in Florida

The Florida Housing Finance Corporation (FHFC) has three DPA programs:

  • Three percent HFA Preferred Grant – if eligible, they offer 3 percent of the purchase price of the home as a non-refundable grant
  • Florida Assist – offers up to $7,500 interest-free second mortgage. You don’t have to make any payments on this, as they’re usually only due when you sell or refinance the home.
  • Hardest Hit Fund DPA – Only available to residents of certain counties. She lends up to $15,000 interest-free for five years. Every year 20% of the loan is forgiven, you pay nothing, provided you stay in the house that long.

For more information, visit the FHFC website Florida Housing Finance Corporation

For other DPA resources and programs, visit:

Florida Housing State Housing Initiatives Partnership Program

Homebuyer Loan Programs Wizard

Down Payment Assistance for Osceola County SHIP Homebuyers

Orange County Housing Finance Authority

Remember: When buying a home, there are many steps in the process, as well as many costs involved, and down payment assistance programs can help. Consider that all programs have guidelines to follow and requirements to meet. Plan short-term and long-term goals when deciding to buy a home and whether support is an important factor in making that decision.

Johanna Gómez, UF/IFAS Family and Consumer Sciences, Faculty Extension Officer Osceola County in collaboration with Lisa Hamilton, UF/IFAS Family and Consumer Sciences, Faculty Extension Faculty Volusia County and Jenny Rodríguez, UF/IFAS Family and Consumer Sciences, Orange County Faculty Extension Officer. If you are interested in more of our programs, please contact us at UF/IFAS Extension Osceola County at 321-697-3000. For more information on our programs and events, visit http://sfyl.ifas.ufl.edu/osceola/ or find your local county UF/IFAS extension office at http://sfyl.ifas.ufl.edu/find-your-local-office/.

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Fareway Expands Payment Options with Acceptance of PayPal and Venmo In-Store | News https://lescouleursdeluce.com/fareway-expands-payment-options-with-acceptance-of-paypal-and-venmo-in-store-news/ Thu, 10 Mar 2022 16:00:48 +0000 https://lescouleursdeluce.com/fareway-expands-payment-options-with-acceptance-of-paypal-and-venmo-in-store-news/

PLEASANTON, Calif.–(BUSINESS WIRE)–March 10, 2022–

Fareway announced that PayPal and Venmo are now accepted payment methods at all of the company’s 129 stores. With the continued growth of digital payment adoption across the country, Fareway and Blackhawk Network will work with PayPal and Venmo to bring digital in-store payments to the Midwestern grocer.

Fareway customers can now pay using PayPal or Venmo QR codes during checkout. Customers simply open the PayPal or Venmo mobile app and click the “Scan” button and select the “Show to Pay” option. PayPal customers will be able to pay using stored debit or credit cards, bank accounts, PayPal balance or PayPal credit. Venmo customers can pay using their stored debit or credit cards, bank account, Venmo balance, or Venmo credit card for eligible customers.

“This new technology reinforces Fareway’s commitment to providing the best customer service, with personalized and efficient options for our customers, said Mike McCormick, Retail Director at Fareway. “With the increase in demand for mobile payments and digital options, we are confident that our partnership with Blackhawk and PayPal will be positive for both customers and our business.”

“As mobile payment adoption continues to soar, it becomes increasingly important for retailers to meet the demands of an evolving consumer, helping to drive loyalty and growth,” said Brett Narlinger, Head of of global commerce at Blackhawk Network. “Helping our partners like Fareway continue to grow and expand their digital payment capabilities is one of Blackhawk’s primary goals.”

Research 1 from Blackhawk Network shows that digital wallet and payments lead to increased shopper loyalty as 63% of respondents say they are more likely to shop at a retailer if they accept digital payments than they use, and 73% of respondents say they want to be able to pay the same way they pay online and in-store 1.

In Blackhawk’s research, PayPal is the number one digital payment tool shoppers intend to use in 2021, with 60% of digital payment users surveyed planning to continue using PayPal once shopping returns. to pre-pandemic levels 1.

Known for being a pioneer in bringing together disparate payments and shopping experiences, Blackhawk is a driving force in innovating the digital experiences of tomorrow. To learn more about Blackhawk Network’s suite of innovative payment solutions, visit blackhawknetwork.com.

About the Blackhawk Network:

Blackhawk Network provides brand payment solutions through the prepaid products, technologies and network that connect brands and people. We collaborate with our partners to innovate, translating market trends into branded payments to increase reach, loyalty and revenue. We reliably execute security-focused solutions around the world. Join us as we shape the future of global branded payments. Learn more at www.blackhawknetwork.com.

About Fareway

Fareway Stores, Inc. is a growing Midwestern grocery store that currently operates 129 stores in a six-state region. Fareway’s mission is to provide the highest quality products, while treating customers like family and valuing dedicated employees. Its stores are known for their unrivaled full-service meat departments, farm-fresh produce, and exceptional customer service right to your car. Fareway is a family-owned company, recognized as one of Iowa’s Top 10 Employers, and has more than 12,000 total employees. Visit Fareway.com for more information or shop online by visiting Shop.Fareway.com.

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1 The “Global Digital Payments” study is based on the results of an online survey conducted by Leger on behalf of Blackhawk Network between March 2 and April 5, 2021. The sample size included more than 13,000 respondents in nine countries.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220310005139/en/

CONTACT: Geoff Renström

208-871-9280

geoff@fletchergroupllc.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: BANKING SOFTWARE MOBILE/WIRELESS NETWORKING PROFESSIONAL SERVICES E-COMMERCE INTERNET SUPERMARKET CONSUMER TECHNOLOGY RETAIL OTHER CONSUMER FINANCE

SOURCE: Blackhawk Network

Copyright BusinessWire 2022.

PUBLISHED: 03/10/2022 11:00 AM/DISC: 03/10/2022 11:00 AM

http://www.businesswire.com/news/home/20220310005139/en

Copyright BusinessWire 2022.

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Payday loans: what are they and how do they work? https://lescouleursdeluce.com/payday-loans-what-are-they-and-how-do-they-work/ Fri, 04 Mar 2022 11:45:26 +0000 https://lescouleursdeluce.com/payday-loans-what-are-they-and-how-do-they-work/

If you are interested in a short-term loan solution, perhaps even for a small amount of money, then you might find it worth looking into payday loans. Like any other loan product, a payday loan involves borrowing money from a business and paying it back with interest.

But these loans work a little differently than other loan products. These loans are designed to be:

  • Arranged and Approved Briefly
  • Used when you only need to borrow smaller
  • Used to borrow for shorter

These loans are generally used for short-term bridge financing. A standard loan, such as a secured home loan or an unsecured loan, can take weeks to arrange and may come with a higher loan limit than you might need. These types of loans tend to be designed to allow people to borrow more money over the years.

Payday loans, however, work more on the cash advance principle. You may, for example, need a few $100 to tide you over until you get paid. You may be short on cash and have an unexpected bill to pay, or you may need quick access to cash right away.

These loans get their name from the fact that they give you a cash advance until you get paid. Used correctly, they are intended to give you almost immediate access to a small loan for a few days or a few weeks. Typically, when you take out a payday loan, your repayment term is set for your next payday.

So, if you take out this type of financing, you will generally find that:

  • You can borrow a small amount with just a quick loan
  • Your loan application can be processed and paid to you remarkably quickly (i.e., sometimes within 2 hours).
  • You pay off the loan later, so you don’t have long-term debt to weigh you down.

It can be essential to think about how these loans are supposed to work before applying. It can be a great way to get a quick and easy cash injection when you need it. But, if you don’t pay it back when you’re supposed to, interest charges can be a problem.

Because of how payday loans work, their fees can be much higher than standard loan fees. However, this may not be a problem if used correctly. Paying off what you borrow on time and not rolling over your debt or continuing to borrow can make this a viable loan solution for you.

How do instant payday loans work?

If you’ve taken out a standard loan before, you might already know that it can be a long and tedious process. You may have to wait weeks to find out if a lender is willing to let you borrow, and it may take years to pay off what you owe. Instant payday loans, however, are designed to be very different.

This is not a review of regular loans. They’re just designed to work differently. Payday loans are based on an alternative system of cash advances and can work very well on completely opposite principles to other loans. For example, they can:

  • Grant you a loan for a small amount of
  • Enable you to get the money you need virtually
  • Don’t put you through endless credit checks and approvals
  • Get paid back in weeks (or even days) with a fixed amount of interest added on your next payment

Let’s be honest now. You may have learned that payday loans have high interest rates (here CreditNinja’s take on interest-free loans). This is perhaps not so surprising considering the benefits they can bring to you. They can sometimes cost more, but you usually won’t suffer if you manage your loan properly. By repaying what you borrow when it comes due, you are simply paying a fixed sum in addition to your loan amount.

Failing to repay like you’re supposed to, however, may be when this type of solution costs more. But, if you use Instant Payday Loans in the right way, that may never be a problem. For many, the advantages of this type of short-term cash advance far outweigh the disadvantages.

You may not have to go through a lengthy credit approval process for this type of loan, but you may need to check some boxes before you can apply. The criteria established by a payday loan company may vary, but generally you may need to:

  • Work full time.
  • Earn more than a minimum amount each
  • Have a bank account with a debit

Instant payday loans may well be a quick and easy loan solution for those who only need a small loan for a short period of time. These loans can be an alternative to consider if you ever find yourself in this situation.

Why do people use a payday loan?

Needing to borrow money isn’t always about borrowing a big to lend for a long time. Sometimes you may need a smaller loan just to get you through a few weeks or even days. This is where a payday loan can come in handy.

There are many different reasons why consumers choose to use a short-term loan over the more complicated or longer-term standard loans. For example, you may need to borrow a smaller amount for a shorter period because you:

  • Bring in an unexpected bill
  • You have to pay for something you didn’t do
  • Having a busy month of expenses and needing a little extra cash to tide you over
  • Find a good deal that you need cash for right away to buy it, but you don’t have spare cash until you get it next time

A payday loan is unlike other types of loans in many ways. This type of loan is more designed to help you:

  • Borrow smaller sums (i.e. hundreds rather than thousands of pounds).
  • Get a loan in 24 hours or
  • Bypass standard loan approval and waiting procedures
  • Borrow money that you can then pay back the next time you get

This type of loan is suitable for many people who find that they may need to borrow money, but find that their loan needs do not match traditional lending methods. Say, for example, you see a discounted vacation deal that’s only available for a few days. If you do not get a deposit by then, the offer will be closed.

You may not have the money available now. You may be a few weeks away from your next payday when you will have access to the deposit money. But you might not be able to get a bank to lend you the small amount you need, and they doubt they’ll approve a loan on time anyway.

A payday loan may be an alternative to consider. It could give you the money you need in a day. All you have to do then is pay back what you borrow plus the interest charges charged, and you’ll be sorted.

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Ballot proposal would cap ‘predatory’ interest rates for payday loans https://lescouleursdeluce.com/ballot-proposal-would-cap-predatory-interest-rates-for-payday-loans/ Wed, 23 Feb 2022 20:50:00 +0000 https://lescouleursdeluce.com/ballot-proposal-would-cap-predatory-interest-rates-for-payday-loans/

LANSING, MI — A polling committee is busy asking a question about the November ballot that would prevent payday lenders from charging “predatory” interest rates if approved by voters.

The Michiganders for Fair Lending campaign officially launched its petition-raising effort Wednesday to cap high interest rates on payday loans, payday loan advocates say are creating a cycle of indebtedness that is becoming impossible to escape. . The group said it wants to change the current payday loan landscape to one that provides access to small loans to those in need, not a debt trap.

“Payday lenders are targeting Michigan’s most vulnerable communities by offering quick cash that traps people in an endless cycle of debt with outrageously high interest rates,” said Michiganders spokesman Josh Hovey. for Fair Lending.

“State lawmakers have been urged for years to end predatory lending practices. People harmed by these loans cannot afford to wait any longer. That’s why we’re putting the issue directly to voters in November. »

In Michigan, the typical payday loan carries the equivalent of a 370% annual percentage rate (APR). The Michiganders for Fair Lending proposal would cap payday loans at a maximum of 36% APR.

Payday loans are marketed as short-term, but the vast majority of borrowers are caught in a cycle of long-term debt, say fair lending advocates. About 70% of Michigan payday borrowers borrow again the same day they repay a previous loan, according to a Consumer Financial Protection Bureau study. The same study found that the average payday loan borrower ends up taking out 10 loans over the course of a year.

Michigan Attorney General Dana Nessel describes a payday loan as a short-term, high-cost transaction where customers borrow money for a service fee. Michigan law calls this type of loan a “deferred presentment service transaction” because the customer’s check is held for a period of time before being cashed. Loans are not like car payments because borrowers are unable to make installment payments.

Payday loans have high service fees and a short repayment period. For example, a customer who borrows $100 for two weeks and is charged $15 will pay a service fee equal to a three-digit APR. The actual cost of the two-week loan is $15, which equates to an APR of 391%. And that still doesn’t include additional fees for “eligibility checks” or processing.

Payday loan shops often allow customers unable to repay the loan to take out a second payday loan to pay off the first. Service charges can lead the customer into a cycle of debt.

“It’s a slippery slope,” Nessel said in a process-focused consumer alert.

Fair lending advocates say payday loan shops are unquestionably predatory. Stores are deploying manipulative tactics and engaging customers in a process that creates a cycle of debt that traps people in poverty, Hovey said.

“Stopping predatory lending is an issue in Michigan that resonates across all parties, geographies, age and income levels. Even in today’s divisive climate, this is an issue the vast majority of people can agree on, said Jessica AcMoody, director of policy at the Community Economic Development Association of Michigan.

“Lenders know they are getting their money because they have direct access to the borrower’s bank account and can get their own money back before the borrower can pay rent, utilities or food. With no funds left over for basic living expenses, guess what happens? You guessed it. The borrower returns to take out another loan,” AcMoody said.

Gabriella Barthlow, a financial coach with the Macomb County Veterans Service, said she’s seen the predatory payday loan process play out with the veterans she works with. Military veterans are particularly vulnerable to predatory lending, Barthlow said.

“As a targeted community for predatory lending, it’s critical that veterans understand the risk associated with payday loans and the importance of a 36% interest rate cap,” Barthlow said.

The 36% APR cap used by many states is similar to the National Military Loans Act, which sets consumer credit protections for active military members. Congress passed the law in 2006 after the military found payday lenders setting up stores near military bases.

Dallas Lenear of Project Green, a Grand Rapids-based financial education nonprofit, said he was motivated to help try to change the laws after hearing first-hand stories about interest rates. excessive that trapped people in financial ruin.

“Payday lenders exploit our most vulnerable communities and neighbors without consumer protections,” said Dallas Lenear of Project Green in Grand Rapids. “People go to payday lenders because they feel they have no other choice. They get stuck in quicksand that imprisons them for months and sometimes years.

Payday lenders also disproportionately locate their stores in communities of color. Statewide, there are 5.6 payday loan stores per 100,000 people. That number is 25% higher in majority black communities, Lenear said.

Michigan would join 18 other states and Washington DC that have set a payday loan rate limit of 36% APR or less. Voters in Nebraska, Colorado, South Dakota and Montana passed per-vote payday loan rate caps that all got more than 70% voter approval.

ALSO ON MLIVE:

Read petitions before signing them, group warns

Betsy DeVos says ballot initiative would allow parents to ‘take control’ of Michigan education

Petition for a “voucher” school scholarship system approved by the state board

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Bill Paying Survey Finds U.S. Consumers Struggle to Pay Their Bills on Time https://lescouleursdeluce.com/bill-paying-survey-finds-u-s-consumers-struggle-to-pay-their-bills-on-time/ Wed, 23 Feb 2022 13:05:31 +0000 https://lescouleursdeluce.com/bill-paying-survey-finds-u-s-consumers-struggle-to-pay-their-bills-on-time/

To increase on-time bill payments, billers need to create a frictionless payment experience, and for many consumers, that means having the ability to pay their bills via mobile device. – Anne Hay, Head of PayNearMe’s Consumer Research Initiative.

PayNearMe, the modern and reliable payments platform known for making payments easier for businesses and customers, today released the results of a bill paying survey that reveals why some American adults struggle to pay on time personal loans, car loans, mortgages and utilities. The online survey of 2,676 US consumers, ages 18 and older, also highlights that US adults of all ages want to use mobile payments to pay their bills, and that the ability to store bills in an Apple or Google Wallet and paying via smartphone makes it easier for them to make payments on time.

“Almost one in five adults surveyed (19%) say they paid a bill late because the online payment process was so complicated that they became frustrated and did not make the payment,” said Anne. Hay, head of PayNearMe’s consumer research initiative. “To increase on-time bill payments, billers need to create a frictionless payment experience, and for many consumers, that means having the ability to pay their bills through a mobile device.”

Additionally, consumers can better manage their finances when they can view and store their bills in a digital wallet. For example, when consumers store bills in a digital wallet, they can enable push notifications to allow engagement communications from the biller, such as electronic bill payment reminders. Nearly half of American adults surveyed (45%) say receiving a text or email reminding them when a bill is due would make it easier to pay bills on time; 38% think a reminder including a clickable payment link would be even more convenient, according to the results.

Bill Payment Survey: Key Findings

● Half of US adults (51%) have paid at least one late bill in the past 12 months.

● Nearly 1 in 3 American adults (30%) with a personal loan admit to having made late payments on their personal loan. Nearly 1 in 8 (12%) frequently or always make late payments on personal loans; 12% are likely or very likely to delay repayment of their personal loan.

● 28% of US adults with a car payment admit to having made late car payments. Nearly 1 in 6 (15%) say they frequently or always pay this bill late; 11% are likely or very likely to delay paying for their car.

● More than 1 in 4 American adults (27%) with a mortgage admit to having paid this bill late. Nearly 1 in 6 (15%) say they frequently or always pay this bill late; 11% are likely or very likely to delay their mortgage payments.

● Nearly 3 in 10 (29%) adults with a utility bill admit to paying late; 13% frequently or always make late payments for utilities; 15% are likely or very likely to delay paying their utility bill.

“When tens of millions of people pay their bills late, billers need to adapt the bill payment process to meet customers where they are; and they’re on their cell phones, Hay said.

Across generations, consumers miss payments. Young adults aged 18-29 are the most likely to miss payments, in part because they have difficulty keeping track of due dates (53%) and remembering passwords when they attempt to log in to pay a bill (51%). Adults aged 30-44, who came of age with connected mobile devices, are the most likely to ignore paper bills (34%) and be frustrated with a cumbersome online bill payment process (26 %). Consumers between the ages of 45 and 60 are the most likely to procrastinate or forget to pay a bill (40%). Baby boomers, the majority of whom own a smartphone, are well on their way to adopting mobile bill payment.

Consumers of all ages agree that having more mobile payment options would make it easier to pay bills on time. Nearly a third (29%) say the ability to use different payment types each billing cycle would make it easier to pay bills on time. Three in 10 (30%) consumers surveyed say being able to pay their bills using Venmo or PayPal would help them make more payments on time, and a quarter of US adults (25%) have used — or plan to use — Apple Pay or Google Pay to make bill payments through a mobile device.

Bill payment trends by age group

● Young adults are most likely to miss payments: Nearly 30% of consumers aged 18-29 have missed more than four bill payments in the last twelve months. In comparison, only 19% of adults aged 45 to 60 have missed more than four payments during the same period and only 8% of baby boomers over 60 have done the same.

● Adults aged 30-44 are the most likely of all age groups to lose or forget their physical bill in a pile of mail (28%) or email (33%). They are also more likely (38%) to be frustrated with the process of paying bills online and not making their payments.

● Adults aged 45-60 are the most likely (33%) of all age groups to procrastinate or forget to pay a bill. They are also the most likely of all age groups (36%) to not have enough money in their bank account to make a payment, and the most likely to have paid late because they lost their jobs due to COVID-19 (32%).

● Baby boomers aged 60+ are ready to embrace mobile bill payment. Nearly a third (30%) find the ability to scan a QR code on a paper bill statement and pay a bill with a few mobile clicks appealing or very appealing. Nearly one in five (17%) baby boomers say they are likely or very likely to use Apple Pay or Google Pay to pay their bills, if given the option; 16% say the ability to store their bills in an Apple or Google Wallet and pay via their smartphone would make it easier for them to pay their bills on time.

“Having a mobile bill payment strategy can increase on-time bill payments across all age groups,” Hay said. “PayNearMe works with billers to make it easy for their customers to pay their bills directly from their mobile wallets so they can get the information they need – amount due, payment term and remaining balance. – directly on their smartphone.”

Millions of consumers use smartphones to purchase goods and services, and survey results suggest they also want to use them to pay their bills.

● Given the choice, nearly 2 in 5 US adults (38%) would be likely or very likely to pay their bills with Apple Pay or Google Pay.

● More than a third of US adults (35%) say the ability to store bills in their Apple or Google Wallet and pay via smartphone would make it easier to pay bills on time.

● 42% of US adults say they would be likely or very likely to use their digital wallet to store, view and pay recurring bills if their billers made this option available.

“The majority of US consumers (85%) own a smartphone, and we estimate there are billions of bill payment transactions each year,” Hay said. “It’s clear that late payments don’t have a single cause, and billers need to adapt to meet the preferences of all consumers to make the process easier – and that includes offering a seamless mobile payment experience. friction.”

Download “Why Consumers Pay Late (and How to Encourage More On-Time Payments)”, an original research paper from PayNearMe that uncovers new and surprising insights into the mind of the modern bill payer. The document highlights trends and attitudes regarding late bill payments, and provides suggestions on how to generate more on-time payments and increase customer satisfaction in the process.

Survey methodology

PayNearMe surveyed 2,676 nationally representative US adults ages 18 and older. The survey was conducted using an online survey format. Quotas have been established to ensure a reliable and accurate representation of the total US population ages 18 and older. The results of any sample are subject to sampling variations. The magnitude of the variation is measurable and depends on the number of survey respondents and the level of the percentages expressing the results. In this particular study, there is a 95 out of 100 chance that a survey result will not deviate, more or less, by more than 2.0 percentage points from the result that would have been obtained if interviews had been conducted. with all the people in the universe represented by the snack.

About PayNearMe

PayNearMe develops technology that improves payment experiences for businesses and their customers. Our modern, flexible, and reliable platform helps businesses increase customer engagement, improve operational efficiency, and reduce the total cost of accepting and managing payments. PayNearMe offers more ways to pay by offering all major payment types and channels in one platform.

PayNearMe today processes a variety of payment types, including Card, ACH, Apple Pay, Google Pay, PayPal, and Venmo, and has enabled cash payments through our proprietary cash network since 2009. PayNearMe cash payments are accepted at over 31,000 retail outlets in the United States. including participating 7-Eleven®, Walmart®, Family Dollar®, Casey’s General Stores® and ACE Cash Express®, among others.

Thousands of businesses partner with PayNearMe to manage the end-to-end customer payment experience in industries such as consumer finance, property management, insurance, utilities and municipal, and l ‘iGaming and sports betting.

To learn more about PayNearMe, please visit http://www.paynearme.com. Follow PayNearMe on Twitter, LinkedIn and Facebook. The PayNearMe service is operated by PayNearMe MT, Inc., a licensed money issuer.

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Reasons to Use Payday Loans https://lescouleursdeluce.com/reasons-to-use-payday-loans/ Wed, 09 Feb 2022 11:25:09 +0000 https://lescouleursdeluce.com/reasons-to-use-payday-loans/

When you urgently need money, where do you look?

Tell your family and friends? Ask your boss for a loan on your next salary? Sell ​​a few items? Contact your bank for a loan?

Indeed, people consider many interesting options when they need money for an emergency.

This article wants to touch on another exciting instant funding option that you may not have considered yet for payday loans. Instant cash, no collateral, low interest rate, short term repayment? Yes, those. Memory?

As we rightly pointed out, this is an article about payday loans and reasons to consider them for your instant financing situations.

1. Ease of applying and getting approved

When you say you are in urgent need of cash, we want to believe it is a matter of great urgency. In this case, you can’t afford to wait a few days to get it.

Luckily, applying for and getting approved for a payday loan is so quick, you don’t even have to leave your home to do it all. Everything happens on your smartphone.

Once you’ve chosen a lender, all you have to do is visit their site, submit your details, and wait for them to credit you. Usually within minutes/hours the money should appear in your bank account.

2. Fewer restrictions and conditions

Applying for a loan from a bank can be very frustrating due to the endless amount of documents and conditions you need to meet.

Payday loans, on the other hand, will not stress you out at all.

As we said, it is possible to get a payday loan without leaving home. Even when filling out forms online, forms can never be too rigorous. In fact, filling out a payday loan form can be as easy as opening a social media account.

Finally, no hidden or strict conditions are applied. No guarantees. No stories. No-muss.

3. Higher chance of approval

In a bank, you are judged on many criteria. Your credit history, bank statement, source(s) of income, number of dependents. In some cases, some banks/creditors even consider how long you’ve been doing business with them to determine your odds.

This is not the case with payday loans. There is a plan for everyone on every payday loan website. Although the amount of financing may vary, there is always a guarantee that you will find a lender willing to lend you money, regardless of your current financial condition or situation.

4.Greater privacy

Banks, credit unions and most traditional lenders have a large number of customers to deal with. As such, they don’t have packages tailored specifically for individual customers. For example, if a bank’s loan system is fixed at an interest rate of 5% per annum. This is the same number it will be for each client that applies.

If you want a me type loan service to you, choose a payday loan system. By me-to-you, we mean a loan system where you can speak directly to the supplier to discuss your terms and get an offer that suits you perfectly.

Payday lenders understand that each borrower is unique. As such, they are ready to listen to everyone’s story to determine the right amount of financing to disburse as well as the repayment plan to issue.

5. Credit score is never a problem

Payday loan providers won’t kick you out even if you have bad credit. Although you may not qualify for the same amount as someone with a higher score, you can take comfort in the fact that you will always go home with something.

6. Offers of small loans with short-term repayments

It’s easier to get into debt if you’re paying off a large loan. Usually people get tired on the road, i.e. after paying for a while.

On the other hand, when the money is small (say £3,000 or £4,000), you can easily recover your monthly income and settle your debt faster.

7. No external parties involved

Not everyone likes other people getting involved in their business. For me, I don’t like it. So asking me to bring a co-signer or guarantor before being approved for a loan is enough to get me out.

If you’re like me, payday loans may be your next best financing option.

With this funding system, you won’t need to bring a guarantor, co-signer or anything like that. It’s strictly a matter between you and the lender, which is good for your privacy.

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Is San Antonio FloatMe a Safer Alternative to Payday Loans? https://lescouleursdeluce.com/is-san-antonio-floatme-a-safer-alternative-to-payday-loans/ Mon, 07 Feb 2022 22:56:22 +0000 https://lescouleursdeluce.com/is-san-antonio-floatme-a-safer-alternative-to-payday-loans/ FloatMe, a San Antonio tech startup that gives workers cash advances on their next paycheck, said it has increased $16.2 million from investors during its last fundraising.

Overall, the startup has raised $49.1 million in funding since June 2019, including $25 million in debt funding, according to Crunchbase, which tracks investments in tech companies. FloatMe’s new investors include Iowa-based Active Capital and ManchesterStory.

“We’ve been under the radar,” FloatMe co-founder and president Joshua Sanchez said. “The funding is validation that we have grown significantly and allows us to expand.”

However, he declined to say how many customers use the app.

FloatMe, with 60 employees and an office in downtown Soledad Street, is part of a wave of online and mobile cash advance companies gaining traction during the coronavirus pandemic. They compete with payday lenders who sell high-interest loans to largely low-wage workers, a disproportionate share of whom are black and Hispanic.

FloatMe’s service is similar to financial technology, or fintech, offerings from companies such as silver lionwin and David.

Like its biggest rivals, FloatMe says it offers customers payday cash advances, not loans.

Customers pay a monthly fee of $1.99 and can request small advances – no more than $50 – which they repay when their next paychecks hit their bank accounts.

The startup Terms of use say users must be US citizens at least 18 years old and have a cell phone and email address. To create an account, customers authorize the company to access their bank account balance and transaction history.

They must also prove that they have received at least $200 in electronic payroll deposits three times before they can apply for advances.

FloatMe CEO Josh Sanchez markets his company as an alternative to payday lenders.

Jessica Phelps

Once approved, users can receive their advances through an automated transfer from the clearinghouse to their bank accounts in one to three business days. Or they can pay $4 for an “instant” money deposit within eight hours.

Fees for faster access to cash advances have caught the attention of industry watchdogs. Many workers who apply for cash advances are in financial straits and need money fast.

“This type of fee is meant to be voluntary, but really adds up for consumers,” said Yasmine Farahisenior policy adviser at the Center for Responsible Lending, a North Carolina-based nonprofit policy and research group.

FloatMe users can also receive offers from third-party companies for money management services or products — if they choose, according to the startup.

According to the terms of service: “In all cases, you will need to register to receive these offers from partners, and FloatMe may receive compensation from these partners for referring you to them. FloatMe is not responsible for the products and services offered by these partners.

Payday debt traps

The Federal Consumer Financial Protection Bureau describe a payday loan as “a short-term, high-cost loan, typically $500 or less, that is usually due on your next paycheck.” Loans are available in storefronts and online.

If borrowers do not repay their loans on time or at all, lenders can withdraw money from their bank accounts, sometimes resulting in overdraft fees. Payday lenders also sometimes send collection agencies after delinquent borrowers.

Payday loans have long been a big business in Texas.

The Center for Responsible Lending has to analyse the average annual percentage rates, or APR, for a $300 loan with 14-day repayment periods in each state. Data shows Texans can pay up to 664% APR — the highest in the nation — because the state has no interest rate caps to protect borrowers.

Payday loans are marketed as a quick financial fix, but they’re actually a long-term debt trap,” Farahi said. “People will take out a loan thinking it’s a one-time loan to deal with a short-term crisis. But with all the fees and costs, they end up having to take out another loan and another loan.

Like his peers, Sanchez says FloatMe is not a payday lender.

“FloatMe is all about transparency, he said. “We charge members $1.99 per month to access our personal finance management tools, overdraft alerts and other budget management features. Members can access the floats without having to pay the $1.99. There is no credit check. There is no interest and no hidden fees.

“We do not collect or store sensitive information (personal information),” Sanchez said. “We work with a third party to simply connect a member’s bank account. We do not sell any user data.

The company’s website says it uses Plaid, a California-based financial services company, to connect to customers’ bank accounts.

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LiveVox: Top 5 Tips to Protect Your IVR Payment System from Hackers https://lescouleursdeluce.com/livevox-top-5-tips-to-protect-your-ivr-payment-system-from-hackers/ Fri, 04 Feb 2022 15:16:34 +0000 https://lescouleursdeluce.com/livevox-top-5-tips-to-protect-your-ivr-payment-system-from-hackers/

An IVR payment system allows businesses to offer customers another way to make a payment, especially when they don’t feel comfortable giving their credit card or banking information to an agent over the phone. . Despite this added layer of security, many consumers are still reluctant to disclose their financial information over the phone using IVR. Contact centers can reassure their customers about the security of their private data by providing transparency into the security initiatives taken by the company to ensure that their IVR is hacker-proof.

What is an IVR payment system?

Before discussing the security aspect of IVR, let’s see what an IVR payment system is. An IVR payment system uses built-in voice response technology to handle incoming or outgoing customer calls. The main purpose of this IVR setup is to accept payment. An IVR payment system could allow customers to pay by credit or debit card. Many also accept bank routing and account numbers over the phone as a method of payment from customers.

A secure IVR payment system is non-negotiable

When a customer initiates the IVR payment process, they must first verify their identity using personal information known only to them, such as a PIN or passcode. Only then will they have access to their account information and the ability to make payments. However, in the past, it was not uncommon for criminals to gain access to sensitive information through scams using IVR and hacking techniques such as “voice phishing”.

A bank’s customers were victims of such a scam. After many bank customers received a text message saying they needed to reactivate their debit cards, the scammers also sent a phone number which led to a phone line with IVR. In addition to this provided phone number, customers were also given instructions to enter their debit card information and PIN into the IVR when prompted so they could “unlock” their cards. As customers called to “reactivate” their debit cards, the hackers were able to steal 250 credit card numbers.

In other cases, hackers have repeatedly gained access to financial information via IVR with techniques such as information gathering (guessing PIN codes and account numbers). Some will use tone manipulation to attempt to crash the IVR software. Stories like this make it hard for customers to feel comfortable giving out their payment information over the phone. You can reassure your customers that their data is 100% secure with your company’s IVR system by following these 5 tips to protect your IVR system from hackers:

  1. Implement multiple layers of verification through your IVR system. When a customer calls to access their accounts, you can ask IVR to verify more than just their name and address. Set specific security questions during initial account setup to reduce the risk of unauthorized users accessing accounts. IVR systems with advanced AI voice recognition can be configured to grant access only after a customer provides the correct answers to their security questions.

  1. Enforce multi-factor authorization in your IVR. This extra layer of security sends customers a code via SMS or email before allowing access to their accounts through IVR. They must then verify this unique one-time use code before going any further. The chances of a hacker also gaining access to a victim’s email is less likely to occur, making MFA a preferred security measure.

  1. Make sure your The IVR system is PCI-DSS certified to meet security standards and displays strict adherence to compliance laws and regulations such as HIPAA, FISMA or FedRamp. Staying current on security standards certifications and full adoption of their associated protocol is critical to consumer information security. As technology advances, the techniques used by hackers to steal data also evolve. Updated standards ensure vendors are aware of new security vulnerabilities every time.

  1. Configure your SVI software to prevent it from recording credit, debit or bank account number. This feature can recognize when a customer is about to provide sensitive data and automatically start and stop recording as needed.

Inform your customers of the measures taken by your company to prevent fraud. For example, you can periodically remind them that your company will never text or email them asking them to enter their credit or debit card numbers into an IVR system. If they get a weird request like this, they’ll know to check with your company first.

What are the best IVR payment systems?

Taking care to implement these 5 tips will help your business protect sensitive customer information from IVR system hackers. Protecting sensitive customer data should be at the top of every small business and enterprise’s priority list. The consequences of stolen financial information can quickly become very costly.

Many large public companies have fallen victim to cyber hackers. As a result, they faced multimillion-dollar lawsuits from consumers whose information was compromised by these cyberattacks on corporate networks.

At LiveVox, we take security and compliance seriously. We stay on top of the most advanced technology updates to ensure our services provide the best protection for sensitive data. With over 20 years of industry experience, LiveVox is PCI-DSS and SOC 2 certified. We can put business owners at ease with confidence. Consider evaluating your current IVR security strategy and contact us so that a LiveVox representative can help answer your questions.

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