Choose Best Payment Gateway Service Providers!

ZED Network

For every business in the world, “sales” is the name of the game, and that means money is involved in ensuring a seamless customers’ purchasing experience becomes imperative. One of the most critical aspects of creating a seamless experience is the checkout experience. Now, if you’ve landed here, then it’s safe to assume that you already have a beautiful website along with quality web hosting.

We here at Zed specialize in providing comprehensive payment orchestration solutions for multinational businesses, and that means we know how you can optimize your checkout process. If you want your business to have sustainable growth, then you need to address the checkout optimization aspect. According to Zed Founder and entrepreneur Alan Safahi, the goal is to ensure the checkout process is streamlined and straightforward.

Once you achieve that, you’ll be inviting customers to, well, show you the money. The most vital aspect of ensuring a seamless checkout process is integrating the best payment gateway service provider. It’s a third-party application that provides an easy-to-use tool for processing payments from sales. So what is a payment gateway? How does it work? Those are all the questions we will address in the following passages and list out some of the best payment gateways you can integrate. So without further delay, let’s begin!

Payment Gateway Introduction

Around 96% of Americans shop online, which is expected to grow up to 230.5 million people in 2021 within the US. And that means smarter customers who already know and understand the basic steps of the e-commerce shopping experience. The online buying process for most of us is muscle memory. All you need to do here is browse, pick a product, add to the cart, hit the checkout. However, according to Safahi, for that to happen, you have to make sure you provide an outlet that allows your customers to pay for the product or service securely. And ensure that the payment is fully processed; the payment gateways handle all that. 

It basically acts as in-between services, and processing inputted information provided during checkout and facilitating the authorization or fulfillment of payments made for e-businesses and online retailers. And payment gateways aren’t only limited to online businesses. You will find them at brick-and-mortar establishments as well. However, if you are still not convinced why payment gateways are so important, let’s check out why you need them.

Why Use A Payment Gateway?

Well, you need a payment gateway because they take charge of purchasing’s tricky tasks like encrypting sensitive info from credit card payments. While also helping you meet specific standards for data security, ensuring safe transactions between you and your customer. That’s not all. The third-party integration also saves you a lot of time and work because it removes the need to input info received on your end manually. Add to that the flexibility it offers business by being able to process different types of payments.

Remember, flexibility is helpful as it increases the likelihood of sales by widening accessibility for customers with various payment types. Besides, it would help if you offered a wide range of payment options, as people vary in how they pay for products. One Baymard article states that lack of payment options is one of the leading causes of cart abandonment issues. So now that you know what payment gate service is and why you need one, let’s talk about choosing the best payment gateway service for your business!

How To Choose A Payment Gateway Service?

According to Safahi, the right payment gateway will take your business a long way but finding the best fit for your business might seem overwhelming if you don’t know what you are looking for. As a general rule, it is always best to evaluate the individual features of each before choosing any third-party tool, and your choice should be based on the needs and capabilities of your online store. When it comes to finding the best payment gateway service, there are five main factors to consider, and that’s what you will find in the following passages. So without further delay, let’s check them out!

1st Factor: Security

Well, in the online business world, security is paramount. No one is going to fork over sensitive financial information to an e-commerce store that looks shady. Therefore, you need a reputable payment gateway that provides safe checkout experiences for your customers. 

One of the most powerful tools for online businesses is displaying security signage. According to one article from Cox BLUE, more than 80% of customers feel safer seeing logos of trustworthy payment options on a website. Therefore, we recommend going with a payment gateway that handles your customers’ delicate data with care and if you can ensure that they stick around.

2nd Factor: Costs

You already know that when choosing any service, you need to know all the associated fees and costs, and it is especially true when selecting third-party tools like payment gateways. In addition, you will need to pay transaction fees for your business. So make sure you pay attention to your gateway’s costs and make sure you have the necessary research on hand before integrating it into your site, so you’re not slammed with surprise fees.

3rd Factor: Accepted Payment Methods

Remember, the internet is all about ease of use, so the easier you make it for your customers to make purchases, the more likely it is that you will make them. You need to make sure the payment gateway you choose incorporates a wide variety of payment methods. That way, you will be widening your “sales net.” According to Bounteous, 50% of customers say that they will move away from a brand if they don’t find their preferred payment method. 

You can easily find out the most popular payment methods amongst your customers with the help of your site’s analytics. You can use the data to observe what countries have shoppers visiting your e-commerce website as preferred payment methods may differ by country. One study found that 40% of people feel more comfortable shopping from a business that offers multiple payment methods. So keep that in mind.

4th Factor: Compatibility

Another important factor when choosing the best payment gateway means finding one with the capability to integrate to your current platform from a technical and design standpoint. Make sure that you don’t choose one that takes an over-abundance of messy tricks to incorporate smoothly into your existing structure. There are plenty of different payment gateways out there that offers a wide range of services. Many can even be customized to match your site’s feel; We recommend choosing one gateway tool compatible with your brand. 

5th Factor: Payment Location

So as you know by now, some payment gateways allow customers to complete a transaction within the checkout processes of the website. While others lead users to another site to finish their purchases. There are payment gateways that provide an API that incorporates directly into your site. However, others incorporate directly into your site. 

Whenever you choose a payment gateway service, make sure it promotes the best user experience for your shoppers. Remember, once the customers trust your site, they might not mind the extra diversion, so now that you know the factors that go into determining the best payment gateway. So now, let’s tell you about a few of the best payment gateway solutions out there to make your life easier. 

What Are The Best Payment Gateways? 

Now, finding the best payment gateway solution amongst the hundreds out there can be overwhelming, and that’s why you should use those factors to find one that meets your need. Remember, 46% of cart abandonments happen at the payment stage of checkout. 

So if you aren’t outfitted with a smart payment gateway, you are looking at lost sales and maybe even long-term harm to your brand. So to make sure you take into account those factors we’ve listed. Now, to make things easier for you, the research team here at Zed has compiled a list of some of the best payment gateways available right now. So let’s check them out!

Amazon Payments

The e-commerce giants created Amazon Payment. It helps build a trusted and familiar way to submit payments on your site. Here are some features of Amazon Payment: It has eliminated the learning curve for checkout processes and draws from the technical strength of an established platform. Back in 2016, Amazon reported that there is 310 million active customer account. Now current Amazon login information, Amazon Payments gives shoppers a simple, familiar way to make purchases.

By being available, it offers shoppers a simple, familiar way to make purchases. Since it is an API-driven payment gateway, you can easily customize Amazon Payments into your site’s existing look and feel. You can simply add a free plugin and be on your way. Add to that the transactions are completed on your site. It is one of the best payment gateways for responsiveness, and it has mobile capability upstanding critical for users as 79% of smartphone users have made a purchase online using their mobile device.

Originally Posted: https://zed.network/simple-way-to-choose-the-best-payment-gateway-service-providers/

Impact Of COVID On Forex Companies

With the world moving on to the second year of the COVID-19 pandemic, businesses worldwide are adjusting to the reality of living with COVID. Billions around the world are thinking about the public health outcome and the economic impact it will have on their lives. Places that are the most brutal hit still have “non-essential” brick and mortar businesses shuttered, with only food shops and pharmacies operating as usual. It feels like we are going to feel the impact of COVID for years to come. 

Millions are feeling the pinch for some time now, and companies are still having to furlough large numbers of staff, with most having to do so at their own expense. According to Zed Founder and entrepreneur Alan Safahi, some workers don’t get any income support, and those who do only get around 80% of their regular wages. While those who were fortunate to keep their jobs have to do so with pay cuts ranging anywhere from 10% to 50%. Everyone from athletes and CEOs to public sector workers everyone is feeling the pinch. 

Like every sector in the world, there were COVID implications for FOREX too. We here at the ZED Network work with FOREX companies, FinTech, LegalTech startups and provide them with comprehensive payment orchestration solutions that help them grow. So we’ve seen firsthand the impact COVID has had on FOREX, and we thought we should let you know its implications.

How Was FOREX Impacted By The COVID-19 Pandemic?

The start of 2020 was a hellish rollercoaster ride with plenty of significantly terrible news dominating the news cycle. The first focus went to the Phase One trade agreement between China and the U.S. Then it moved to the escalation of tensions between Iran and the U.S. Then the dread of a global pandemic being in full flow. The world watched the downfall of many well-known businesses, as many lost their jobs with the eyes of the world firmly focused on policymakers. 

From mid-January, it was apparent that COVID is here to stay, and it is one of the significant crisis events humankind had to face in its history. Once China became shut entirely down, world trade and the global economy started to tumble. Everything from global supply chains, logistical issues within China, declining industrial commodity prices, and the shutting down of the tourism industry due to travel bans meant that the world watched as millions started to lose their livelihoods.

During this time, the FOREX sector saw the U.S. dollar appreciated, and a broad range of emerging market currencies depreciated. Countries that had economies based around tangible products saw a remarkable decline in their currency along with global supply chain and tourism-dependent economies. The crisis only grew from there as Equity markets started to fall one by one, and the GDP across the board was revised and shown to have lower numbers forecasted.

The entire global crisis led to a financial crisis, something akin to the last great financial crisis seen back in ‘08, with the whole event being U.S. dollar adverse. Before the U.S. was a positive force in the foreign exchange market with interest rates and bond yields higher than those in other G-10 economies, it started hitting record low numbers after the pandemic. That was the first half of the pandemic pandemonium that we got to witness. When you analyze the events that transpired, you can see how the market behaved during protracted downturns. 

But one thing was clear it unlike the recessions and depressions of yesteryear. As of right now, with the new vaccine being rolled out, the world looks on the mend, but there is still no certainty that it will keep. Experts are worried about new strains breaking out or whether food supply disruptions could occur in developing economies where even armed conflict could arise. One bright spot during the pandemic was the FOREX companies that operate online. These companies played a vital role in keeping national economies afloat.

However, stocks, oil, and gold prices have seen and are seeing massive fluctuations almost daily, even though the range has come down a bit. Making the market highly volatile and risky for short-term gain. This is why FOREX companies worldwide are looking into the relationship between the Coronavirus and FOREX so that they can better position themselves for the future. 

What’s Connecting The Coronavirus & FOREX Trading? 

The world got a crash course in epidemiology with COVID, and the impending sense of doom also made millions around the world take an interest in the economic situation. As more and more people were driven towards finding an alternate income source, they started to notice the dynamic relationship that grew between the pandemic and FOREX. What happened next was entirely unexpected.

A vast number of the population started trading in foreign exchange as FOREX companies were hard-pressed to meet the current demands. That’s where companies like Zed Network came to the rescue. We helped plenty of FOREX companies create a comprehensive payment orchestration platform that eased the burden of increased trades and ensured friction-less cross-border payment options.

Our job was to help the FOREX companies meet the demand for trading while allowing them to cash in on accessible scale-up opportunities. FOREX companies that failed to cope with the increased demand during this time will not only find substantial short-term losses but their brands will suffer irreparable reputation loss as part of the long-term damage.

What’s Next For FOREX Companies?

While the risks and uncertainties in the FOREX market have quieted down, the demand for trading in foreign exchange has only been growing. Experts say the demand will only grow from here, even with the uncertainty and risk factors being present. New traders are looking to cash in on this high volatility in the market to make a quick buck and supplement their lives, as many are still recovering from the impact of last year.

According to Alan Safahi , one noticeable trend that reared its head in 2020 was the need for digital optimization. FOREX companies worldwide are upgrading their infrastructure to meet the rising demand, attract and retain new-coming clients digitally. Every FOREX company looking to build a sustainable business model for the new decade is integrating fully digital solutions like an intuitive CRM system, fully configurable I.B./Affiliate management, comprehensive payment orchestration solutions with cross-border payment ease, and other automation tools.

The goal for the market, it looks like, is to move most of its operation online as the community becomes even smaller due to the Coronavirus scare. Along with payment infrastructure, FOREX companies are also looking for tools to manage and identify risks better to allow a more accessible FOREX platform for in-coming brokers.

The Future Is Bright

While the initial response for FOREX companies was panic and chaos, it has all but died down by now. And with the vaccine being more and more available, the world will calm down even more, and so will the FOREX market. While the changes that happened during 2020 are mostly permanent, what we do expect to see is less volatility as 2021 goes by. Now, if the woes of Robinhood were any indication, then FOREX companies need to be proactive in providing a complete digital infrastructure, and that’s where we come in. 

We here at Zed Network provide one of the most comprehensive payment orchestration solutions in the market, covering more than 150+ currencies and 100+ countries of acceptance. Our job is to make sure your company has a truly global presence. So if you want to talk about optimizing your payment orchestration platform, then contact our developers now. 

And with that being said, that’s all we have for you now. Let us know in the comments below how your company was impacted in 2020. Also, hit us up on our socials to send us your thoughts and suggestions on what we should talk about next. We will come back with something new for you soon.

Until then, see ya!

Originally Posted: https://zed.network/impact-of-covid-on-forex-companies/

Best Way To Send International Wire Transfers

Wire Transfers

Whether you are into FOREX, Cryptocurrency, Fintech, or someone who deals with multiple people and businesses worldwide, you will need international wire transfer services. Knowing the best way to send international wire transfers will help you eliminate operational obstacles and shed costs from your operating budget. You need to make sure you make the right decision when choosing an international wire transfer service. 

Depending on your needs, many factors will vary. We here at Zed Network usually work with Fintech companies and FOREX dealers and provide them with a complete payment orchestration platform to cover international wire transfers. However, if your needs are different, you can choose several online international wire transfer service providers and banks. We here at the Zed Network specialize in the finance industry, especially the payment infrastructure niche. 

So we are perfectly placed to tell you how you can find the best international wire transfer services near you. When choosing an international wire transfer service, you need to make sure they meet many different criteria like the transfer fees and costs. 

​Finding out things like the transfer cancellation policies and your rights when it comes to online money transfers are just a few things you need to know. But before we dive into discussing how you can choose the right service, let’s tell you a little bit more about international wire transfers.

What Really Is International Wire Transfer?

Well, you already know what it is. It’s a way to transfer currency overseas to different entities. The money can be received in two ways, and one is electronic, the other in cash. However, now the industry standard is electronic. Before the advent of Fintech, it was handled through a bank or other specialist financial institutes. Nowadays, you’ll find online money transfer companies are more popular than the traditional institutions. 

According to Zed Founder and entrepreneur Alan Safahi, most wire transfers usually go through SWIFT or Peer-to-peer payments (P2P). It has become a part of the mainstream as technology evolved, the fees decreased while also ensuring a higher caliber of security and improved transfer rates. 

Swift and other peer to peer payment systems have become an integral cog in the global economy right now with around $5 trillion in transfers per day, according to the U.S. Treasury. Now all this means is that sending money overseas through online money transfer companies is a great option for you. If you are wondering about the cost of international wire transfers, you should know that there’s no exact answer. The price of an international wire transfer is usually dependent on three leading proponents. They are:

  • The company you are using to send the money.
  • The country you are sending the money to.
  • And the method of transfer.

If you want to find the best way to Send International Wire Transfers, you need a comprehensive approach to selecting the company. So how do you do that? Well, that’s what we will talk about here. In the following passages, you will find all you need to know about finding the best way to send international wire transfers. We will start with the most critical factors in money transfers and work our way from there. So without any further delay, let’s begin!

The Most Important Money Transfer Factors

Choosing the right company or platform for international wire transfers isn’t as simple as conducting a Google search. But that doesn’t mean you won’t have to do it. You will discover companies that offer international money transfer services, but then choosing from one of those will require quite a bit of knowledge. There are several factors you have to consider when selecting a platform. Here they are:

Exchange Rates

As you already know, the exchange rates of currencies between the countries may vary from country to country. While new laws have been put in place to ensure banks cannot charge inflated exchange rates, you should still double-check the rates to ensure it’s accuracy if transferring money overseas. You can easily ensure you have the best exchange rate by contacting banks and credit unions. Ask around and see the rates they give you and if it’s not constant, then go with a platform that offers you the best value. 

The Amount Of The Transfer

The service you take up should depend on the amount of money being transferred. If you transfer smaller amounts, then there are specialized money transfer companies who can help you with that. However, if you transfer a reasonably large amount, you need to find a company that usually deals with larger business transfers. Remember, the higher your amount, the more you should avoid banks as large amounts tend to have hefty fees tacked when transferring overseas.

Comparing Transfer Fees

In this day and age, everything we choose is based on comparison shopping, which goes international wire transfer services. Make sure you shop around at different banks, institutions, and companies to find the best exchange rate on the currency of the country you are transferring money to. When comparing exchange rates, you should also consider the transfer fees. 

According to Alan Safahi, companies vary in their transfer fees, so if you are sending an urgent fund, then make sure you choose a company that isn’t overcharging you. However, if you are only sending something like 10-50 dollars for a birthday or something, then you may want to consider regular mail. Now that the critical factors are done let’s talk about the types of money transfer companies and reasons you should consider them for personal use. 

Types Of Money Transfer Companies & Reasons To Use Them

It’s 2020; banks are not the only option for international money transfer services. Many companies offer bank-beating rates and are cheaper, faster, and more convenient while being as secure an option as your bank. There are three main types of companies that fall under the following categories:

  • Remittance Companies
  • Peer-to-peer (P2P)
  • Non-Peer-to-Peer (P2p)

Now that you know the categories by name, let’s explore a little more to ensure you know enough to make the right decision for choosing a company for your international wire transfer need.

Remittance Companies

Remittance companies have been operating for some time now as their services were always geared towards the immigrant population. These companies facilitate the transfer of money from the country the immigrant is in, to the immigrant’s home country where their family is. Remittance has been a driving force for the economies in the developing world, and remittance companies have played a significant role.

P2P Companies (Smaller Transfers)

P2P stands for peer to peer, meaning that P2P companies deal with smaller transactions between two or more people. They allow you to send money directly to someone else across borders without much hassle. You can transfer the money directly from your bank account to theirs online or through cell-phones. Since these transactions are small, they don’t raise financial institutions’ attention, meaning a faster transfer rate.

Non-P2P Companies ( Large Transfers)

These companies handle huge transactions. Non-P2P transfers are usually made between companies in different countries or huge transfers between individuals. Because of the transactions’ size, financial institutes’ attention may be raised, with additional steps may be required for the transaction to go through to other countries. Now that you know the three main categories let’s discuss why you should choose money transfer service providers for sending international wire transfers.

The Reasons To Use Money Transfer Service Providers

Online money transfer services are popular amongst the masses because they offer a refreshing alternative to banks and other traditional financial institutes. Here are three main reasons why you should choose them:


Specialized Services: These companies provide you the best value when making international wire transfers. You will find competitive rates and often find the best exchange rates at the lowest prices.


Saves You Time: These service providers have streamlined the process to ensure you can send money across borders within a matter of minutes, unlike your bank, which will take several hours to days to get the wire transfer through.

Saves You Money: These companies save you tons of money because you will be bypassing many fees that can bring up the cost of the international wire transfer while also ensuring you have a better exchange rate than what the banks offer.


As you can see, online money transfer services are the best options out there for you when making an international wire transfer. Now that you know they are the right choice for you than traditional methods, you may be wondering, “what to look for in a money transfer company?” Well, that’s what we will talk about next.

Things To Look For In A Money Transfer Company

There are thousands of money transfer companies out there, and only a few are great for international wire transfers. Choosing the right platform can be a tricky process if you don’t know what to look for. Well, here are six things you should look for in a money transfer company:

Security & Safety: Online money transfer industry is a highly regulated sector with many different governing authorities setting the regulations in place. Amongst them, FCA (Financial Conduct Authority) in the U.K., ASIC (Australian Securities and Investments Commission) in Australia, and FinCEN (Financial Crimes Enforcement Network) in the USA are the most prominent ones. There are a few regulatory authorities as well. So make sure you choose a company that meets all the regulations.

Exchange Rate: This is a vital criterion as we’ve mentioned this a few times before as well. Remember, if you are sending large amounts overseas, then even a minute change in exchange rates can significantly impact your overall cost. So make sure you find the company that offers the best rate.

Transfer Fees: This is directly related to international wire transfers. The fees depend on which service you take up. Now it can be a flat fee, which will be a percentage of the amount you are transferring or a cost dependent on the method of transfer you are looking to use. Now, if you use credit cards for your transfers, then odds are you will be paying enormous fees. We recommend using bank accounts when using a money transfer service provider. Another thing to note, there are services out there that will offer transfer without fees, so make sure you conduct thorough research. 

Transfer Speed: Transfer speed means the time it takes your international wire transfer to go through and have the money deposited in the receiving account. Usually, it takes around a few hours to up to five working days, with a few even offering transfers in minutes for P2P. So make sure you take that into account when choosing your money transfer service provider.

Received Amount: This is probably the second most crucial factor to look at when choosing a money transfer service. The amount of money the receiving bank account will get after the deduction of all the fees is crucial in finding the right company to help you find the best money transfer company.

User Experience: Seamless navigation, intuitive interface, and impeccable service have become the cornerstone of every successful modern business. All these things combined ensure ease of use for the traffic coming in, meaning these ensure a fantastic user experience. So when choosing a money transfer service, make sure the company has a proven track record in providing a great user experience. Choose companies that have a proven track record of delivering outstanding customer service as well. 

These are all the things you should look for when choosing a service provider for your international wire transfer needs. So now that you know what to look for in a money transfer service provider, let’s talk about another essential aspect, the fees.

What You Need To Know About The Fees

When you are sending money overseas, there are few fees that you have to pay, and it’s nothing big, but it can drastically change with different services. It also varies from company to company, so always check out the terms and policies when choosing a money transfer service provider. Here are the fees that you will come across:

Transfer/Sending-Fee: This is the fee that the bank, credit union, or the company you are working with charges for the money transfer service they provide. As we said before, it can be a flat fee or a changing fee depending on the type of service you choose.

Exchange Rates: The exchange rate is the difference between the value of two currencies. Due to free trade conditions, different companies may end up offering different exchange rates. However, the rates are set every day, so you will be able to understand if you are being overpriced or not. 

Receiving Fee: So this is precisely what the name suggests. It is a fee for receiving end where the fee is deducted when deposited in the receiving account. Now you won’t see a receiving fee in every company, but they are common so make sure you know before taking up the service.

Now that you know about the fees, we can move on to the next thing. However, this is an excellent time to let you know about your rights regarding money transfers. There are plenty of regulations in place to deter scams and protect customers. Regulatory bodies have stipulated that companies, banks, and other institutions need to provide purchasers with specific documents. They need to provide these documents when any transaction above 15 dollars. The information these companies need to provide include but are not limited to the following:

  • All tax and fee documents the sender had to pay to complete the transfer.
  • Providing the current and exact exchange rate to the customers.
  • Any additional fees that may be charged by third parties.
  • The total amount that needs to be paid.
  • The total amount the sender is sending and how much the receiver will get.
  • Additionally, they can terminate the transfer within 30 minutes of placing it.
  • And transfer tracking information.

Now that takes care of all the information you needed to know to find the best way to send international wire transfers. If you are still thinking about going with a bank, then here are some reasons why money transfer service providers are better than banks.

Reasons To Not Choose A Bank Over Money Transfer Companies

By now, we hope you already understand why money transfer service providers are the best option for you. However, if you are still not convinced, then here are a few reasons why banks aren’t the best way to send international wire transfers:

  • Banks are much more expensive than other institutes.
  • A congested and confusing process that requires much information.
  • You will need to have an account with them.
  • Banks are slower than money transfer companies.
  • Usually offers limited transferring options, with only the bank to bank transfer being the guaranteed option.
  • Banks don’t offer flexible transfer options, especially with small transfer needs.
  • Banks do not offer great value for money with transfers, substantial transfers.

So you see, banks have more downsides than upsides when it comes to international wire transfers. That’s not all of what we have in store for you here. You already know how to find the best way to send international wire transfers. However, there are ways you can optimize them, and that’s what we will talk about next.

Ways To Optimize Your Search

You already know how to look for the best way to send international wire transfers. But here are some tricks you can utilize to ensure you get the best out there:

  • Shop around a lot and compare companies.
  • If you are sending minimal amounts, then we recommend you don’t use international wire transfer services. 
  • Thoroughly check the exchange rates.
  • Choose companies that provide you with value, meaning choose companies that offer the best deal for your transfer.

All the things listed above, if followed precisely, will make sure you gent the best deals in exchange rates and seamless transfer process. So you can be off to the races to find the best option for you. Make sure you check out our next section, as it will give you a boost in your research.

BONUS: Some Of The Best International Wire Transfer Service Providers

As you already know, there are thousands of companies to choose from, so finding the best might feel like finding a needle in a haystack. So we here at the Zed Network thought we should give you a boost in finding the right solutions.

Here are some of the best options out there for you:

PayPal: PayPal is one of the most popular and one of the best payment gateways and money transferring options out there, and you can never go wrong with it.

WorldRemit: It is one of the best options out there when considering international wire transfers. However, keep an eye on the fees and exchange rates.

Transferwise: Transferwise is a popular choice amongst people who travel the world. The company’s vision is to ensure “borderless banking,” ensuring that managing money in multiple currencies is a breeze.

Remitly: It is one of the most affordable options out there, and it is the perfect option if you are sending from a developed country to a developing one. Add to that the moneyback guarantee for missed deadlines is quite an incentive.

X.E. Money Transfer: It has a trust rating of 5 out of 5 on the Trust Pilot and has already become 
One of the most recognized international wire transfer service providers globally.

OFX: Rated 4 out five on Pilot, it is an emerging brand. It offers its services without any transfer fees, and you can transfer money using your debit card.

SENDFX: Another company that is rated 5 out of 5. The Australian company is a top-rated company, and it has won the ‘Best value international money transfer provider’ by Mozo last year. It offers excellent exchange rates and while also having no fees. Besides these, their customer support is one of the best around.

TORFX: This U.K. company has won quite a few awards already because of its fantastic optimizations that provide the perfect user experience. You will also find highly competitive exchange rates and no fees.

ZED Network: While ZED Network isn’t a traditional money transfer service provider, we had to put it in here because of the value it will provide to companies. ZED Network provides dynamic payment orchestration platforms to ensure you run a smooth operation. 

So if you work in FOREX, cryptocurrency, or are the founder of a Fintech company, then Zed Network is the perfect option. Our approach to creating the ideal payment orchestration solution includes a comprehensive strategy to ensure seamless international wire transfers. Here is what Zed Network can offer you:

Seamless International Wire Transfers

So there you have it, we gave you all the information you need to make the best decision when looking for an international wire transfer service provider. Hopefully, by now, you can find the right service provider to ensure seamless international wire transfers. If you have any questions regarding Zed Network or need comprehensive payment orchestration platforms, please feel free to get in touch with us, and we will help you out. 

If you discover any information that we did not include here, then please let us know in the comments below or hit us up on our socials. We love to hear from you, and connecting with you allows us to ensure we provide the best quality out there customized according to your needs. And with that being said, we are done for now. We will come back with something new about the world of finance very soon. Until then, ya!

Originally Posted: ​https://zed.network/best-way-to-send-international-wire-transfers/

5 Golden Rules of Investing

Most investors emphasize too much on choosing between specific bonds and shares. According to Alan Safahi Orinda, a successful entrepreneur and startup founder in San Francisco, the core principles dictate your wealth-building strategy’s success or failure. Check out these five golden rules crafted by Alan Safahi to create your investment plans for long-term value accumulation. Read on!

1. Focus on the Power of Compound Interest

According to Alan Safahi, it is crucial to make the interest work for you. You earn interest on your capital when you invest money. Likewise, the following year you earn interest on your initial capital and the first year. So, this continues, and you earn interest on your original capital and the first two years’ interest.

Safahi says that even Einstein acknowledged the effectiveness of compound interest. Because Einstein calls the compound interest the “eighth wonder of the world,” you must remember its power.

2. Combat Risk with Diversification

Alan Safahi advises investors to diversify across sectors, assets, styles, managers, and securities. Diversification is a fundamental investment rule, allowing you to create a balanced path and take a middle road through the harsh market performance.

In addition, diversification enables your investment to grow steadily with smaller changes or fluctuations along the way. It is an efficient and quick way to manage risks. Remember, diversification protects you from losses in any investments.

3. Understand the Return Tradeoff

No one can neglect the significance of asset mix. If you fail to get the right asset mix, nothing else matters. Likewise, if you want to meet your goals and objectives, make sure you streamline your asset allocation processes.

According to Safahi, asset allocation explains 70% to 90% of your portfolio’s total returns. Regular investments require you to trade off a high expected return with greater risks. The immediate solution for this problem presented by Alan Safahi is getting your asset mix and the amount of each asset right.

After deciding the appropriate asset mix for yourself, make sure you stick to it. However, you can make modifications when the circumstances change. Safahi advises investors to perform a regular review with their financial investors to address fluctuating circumstances.

4. Avoid Looking At Past Performance

Safahi’s extensive research shows that past performance does not indicate future performance. Bear in mind that looking at the past performance is an ineffective guide to your future performance.

Most investors think that if an investment manager has done well in the past, they are clever and carrying out effective operations. It means they will do well in the future as well. Unfortunately, past performance has limitations and limited use because new circumstances mean the past strategies won’t outperform.

5. Stay in the Market

Safahi says “time is your best ally” and has exceptional properties. For example, time reinforces the power and effectiveness of compound interest. It also reduces the risk of adverse outcomes. Because “share” markets are usually volatile, investors require significant average returns for investing in shares.

It is crucial to focus on the range of historical returns for each asset class because it can guide you on the range of returns that you can expect for a given period. Safahi’s research shows that the equity market has short-term volatility. However, they rise consistently over the long term.

Final Words

You would call an architect if you wanted to design your luxury, modern, and dream house. Likewise, if you want a sophisticated investment portfolio, you need to understand the rules of investments. That way, you can best fit your needs.

Remember, high-quality and practical investment management advice and tips do not come cheap, leading to poor decision-making and risking your investments. Thanks to Alan Safahi, you can leverage the power of these five golden rules to streamline your investments.

Originally Posted: https://vocal.media/trader/the-5-golden-rules-of-investing

Best Position Fintech company for 2021

Fintech is a fast-growing company expected to hit a total valuation of 310 billion dollars by 2022. Back in 2020 February, there were about 8,775 Fintech startups in America alone, with thousands more throughout the world, according to Statista. In 2018, it showed a staggering growth of 120%, making it a very lucrative sector to ply your trade.

Additionally, plenty of other established financial institutions are also looking to get into Fintech already making it a sector for the future. We here at the ZED Network work with Fintech companies all the time, providing them with comprehensive payment orchestration platforms for safe and smooth operations.

Our experience in working with Fintech companies has given us a unique perspective on the sector, and we think we can help guide your Fintech company to success in the future. If you already have a Fintech company, then there are three things that you already established. They are:

  • You have successfully identified a problem and devised a solution to it.
  • You have created a product or service that has global benefits.
  • You have already impressed a bunch of investors with your thoroughly researched business plan.

In a highly contested niche, standing out is hard. To ensure your Fintech company is in the best position for growth in 2021 and beyond, you need a comprehensive marketing strategy. So how do you turn your target into leads and then to paying customers? Well, it’s easy. All you need to do is create a strategy that compels action, instills long-term trust, and differentiates itself.

Remember, you are not a hometown bank, so your approach should not be like one. Unless there are some geographical restrictions, you will more or less be able to operate worldwide, being able to reach every corner of the earth. So you need to think big and then think even more significant than that. Now, how do you do that? Well, that’s what we will talk about now, so let’s begin!

Understanding Customer Profiles

Defining and understanding your customer profile is vital if you want your Fintech company to succeed in 2021. According to Zed Founder and entrepreneur Alan Safahi, you must have an in-depth knowledge of the profile and should be able to identify customer pain points and needs. When you understand whom you are marketing to, the rest will become easy.

One of the reasons you need to do that is because you have to grow out of your perceptions. That will help you create a marketing strategy that generates engagement. As a Fintech company, you will usually have an extensive reach, so making a precisely targeted strategy is the easiest way to ensure sustainable growth.

Building Relations

If you are a Fintech company that offers one of the essential financial services out there, it won’t matter if there’s no one to buy it. Simply acquiring leads just doesn’t cut it. You have to make sure you convert, nurture and retain them. Building rapport and trust of the customer is the only way you can ensure long-term success.

Your job is to create a highly optimized marketing strategy that turns an applicant into a customer and a fully engaged customer. According to marketing studies, fully engaged customers generate 50% more revenue and sales than their disengaged counterparts. In another report, the numbers show that if you can increase customer retention by 5%, you will see around a 25% upgrade in profits.

Remember, traditional businesses have personal physical interactions to build trust and relationships with customers. As a Fintech company, you need to ensure you touch customers at every possible touch point to ensure you achieve the same goal as traditional financial institutes.

Easing The Customer Journey

One of the biggest hurdles that Fintech companies face is ensuring more and more people sign up for their services. In 2021 you should be looking to ease your customer’s journey. Not only should you look to optimize your site navigation but also ensure that people know about your service.

If you want to set your Fintech company up for 2021 and beyond, then you must make sure that you remove any friction when signing up. Talk to UX/UI experts if you are having a hard time optimizing your customer’s journey. It would be best if you also encouraged self-service on your platform whenever you can. Educate your audience about your frictionless experience when signing up with your content marketing effort, and you will start seeing the results.

Automation Is Key

Fintech companies usually emphasize innovation, and odds are you do too, as you should. However, most Fintech companies tend to overlook automation, which is a vital part of sustainable growth. Automation incorporates everything from automating the onboarding process to rolling out the marketing strategy and everything in between.

According to Alan Safahi, you need to ensure your audience is engaged and invested in your vision with highly targeted emails, valuable content, and strategic retargeting. While static reminders and generic language worked before nowadays, people want to form an emotional connection with companies whose services they take up.

So you can use automation to ensure your customers experience the product naturally. It can help you make your audience active and willing participants, which guarantees prolonged engagement.

The Future Is There For The Taking

So there you have it. These are all the things you can do to ensure your Fintech company is in the best position for sustainable growth in 2021 and beyond. Along with ensuring all the stuff at the top, you also need a dynamic payment orchestration platform for your company that allows for seamless transfers. If you are looking for payment orchestration solutions, then we can help you out. Feel free to contact us for any queries regarding payment orchestration, and we will answer every last one of them.

So with that being said, we arrive at the end. Tell us your take on positioning your Fintech company in 2021 and beyond in the comments below. Or hit us up on our socials with any developing trends. We will come back to you with something new soon. Until then, see ya!

Originally Posted: https://zed.network/best-position-your-fintech-company/

The Gig Economy Explained: Introduction To A Modern Concept

Gig Economy

The modern financial landscape and the world economy are ever changing due to the constant fluctuation of all the factors involved. From unfathomable technological advances, changing of political and social structures, to climate change, the factors are endless that contribute to the ever-growing world economy. We’ve seen plenty of new developments and concepts take root due to the unique characteristics and lifestyle changes that have come about in the last five decades or so. However, everything was put into hyper-drive with the advent of the internet and the “information age.” Amongst the many new concepts that this new era brought forth, the gig economy stands out.

While the term gig-economy can be traced back to 1915 when jazz musicians coined the term “gig” to refer to performances. The terminology now means something entirely different. Since 2009, the term has been used to describe a very modern concept of work. We at the Zed Network work in the financial sector and have been closely observing its effect in the domestic and world economy in general for quite some time now. So we thought we should put our research and observations out there in public to aid you in further understanding this very modern concept. 

According to Zed Founder and entrepreneur Alan Safahi, the effects of the gig economy are felt throughout the financial sector. Gig economy workers are considered as the driving force behind the fast-tracking of payment modernization. So what is it? Why is it such a big deal? Well, that’s what we will talk about in the following passages. By the end of this article, our goal is to provide you pertinent information about the gig economy. So let’s dive in and check out this modern concept that took root in the last decade.

What Is The Gig Economy?

The basic idea for a gig economy is where temporary, flexible jobs are widespread and where companies look to hire independent contractors and freelancers instead of full-time employees. The gig economy and its workers directly undermine the traditional economy of full-time workers who often focus on their career development. It’s a versatile economy that is usually more adaptable to the needs of the moment and the demand for flexible lifestyles. From workers, businesses, and consumers, it can benefit everyone involved. However, it’s not all roses. There are downsides to the gig economy too. It usually stems from the erosion of traditional economic relationships between workers, businesses, and clients.

Understanding The Gig Economy

A considerable part of the population works part-time or in temporary positions or as independent contractors. Therefore, it tends to encourage cheaper, more efficient services. The direct result of the gig economy is market-changing companies like Uber and Airbnb. Now, if you don’t use technology-based services, then you won’t be able to enjoy its perks benefits. Large urban areas and big cities are usually the places where you will see highly developed services and are the most entrenched in the gig economy. Now, identifying gig economy workers can be a bit hard as almost every job has the capability of being part of the gig economy. 

However, here are some of the most common examples of gig economy workers driving for Lyft or delivering food to writing code or freelance articles. In addition, you can see the gig economy at work in the educational sector. Adjunct and part-time professors, for example, are contracted employees as opposed to tenure-track or tenured professors. So universities and colleges can easily cut costs and hire and match professors according to their academic needs by hiring more adjunct and part-time professors.

Factors Leading To The Gig Economy

Going by the estimates, we can see that a third of the working population is already in gig capacity in one way or another within the US. That means the United States is already on its way to establishing a gig economy. Experts are already suggesting that the numbers will only rise from here as these positions allow for independent contracting work with many clients, and management won’t need them to come to the office usually. Freelance gig economy workers usually look for part-time workers and to work from home. 

According to Safahi, businesses tend to get a wide range of applicants that they can consider without worrying about how near the office they are. Add to the fact that a craze for automation is afoot, with many computers now strong enough to do many different jobs. And with the COVID-19 Pandemic coming into full flow last year, it has made working from home quite a popular choice. There’s a growing population that wants to work from home—plenty of economic factors that contribute to the ever-growing gig economy. The Pandemic, travel restrictions, and the general health hazard that started back in 2020 have been felt throughout industries worldwide. 

Now, many employers won’t be able to afford to hire full-time employees, with many established businesses even having to furlough or lay off staff. While the Pandemic isn’t a cause of the gig economy, it has brought it to the forefront. Before, freelancers and other gig economy workers were a niche where companies would hire part-time or temporary employees to take care of busier times or specific projects. 

But now, with the world static, there is a high need for the versatility a gig economy can offer. Now, that’s from the employer’s point of view. So now, let’s look at it from the employee’s perspective. People usually have a hard time finding something to do and then sticking with it. We often find ourselves having to move or take multiple positions to afford the lifestyle we want. It can even lead to multiple career changes in our lifetime. The gig economy is just that but on a much larger scale. 

As we’ve said earlier, the Pandemic has put the spotlight on the gig economy with gig workers delivering necessities to home-bound consumers, and the people who lost their jobs have turned to part-time and contract work for income. Like everything else in the world, the gig economy too had to change and adapt during the Pandemic, and it has transformed into something even more prominent. So employers will have to plan for the future about the overall workforce, including the gig economy workers, once the Pandemic dies down.

The Gig Economy And Its Criticisms

It’s not all roses with the gig economy. There are obvious downsides to it. While not all employers will hire contracted employees, but the general gig economy trend can hurt the full-time workforce. They can find it very hard to build a career since temporary employees are usually cheaper to hire and more flexible in their availability. We’ve already seen that workers who like to follow a traditional career path and the stability and security of it are already being crowded out in some industries. 

Not everyone is the same, and for many, the life of a gig economy worker can do more harm than good. Work flexibility can disrupt many aspects of life like the work-life balance, sleep patterns, and activities of daily life. It can even lead to them spiraling downwards mentally and physically. Add to that the fact that flexibility can often mean being available anytime a gig comes up, regardless of whether you need it or not. But that’s not all. 

As a gig economy worker, you will always need to be on the hunt for the next gig. With increased competition and no assurance of unemployment insurance (the CARES Act made an exception for the Pandemic) after the Pandemic, the gig economy can become a toxic environment for many of the population. If you look carefully, you will notice freelancers or other gig economy workers have more in common with entrepreneurs than traditional workers. 

Now, yes, that may come with greater freedom for the individual worker. Still, things like security of a steady job, regular pay, benefits like a retirement account, and the daily routine that has defined work for generations are all on their way to becoming extinct. Another criticism that often pops up is that there is significant chance transactions and relationships, long-term relationships between workers, employers, clients, and vendors can simply deteriorate due to the fluid nature of the gig economy. 

Now that means the benefits of building long-term, meaningful relationships and trust will no longer be there. It can even eliminate the stalwarts of the traditional work economy like customary practice and familiarity with clients and employers. That can even mean investment in relationship-specific assets might be discouraged that would be otherwise profitable because no party has an incentive to invest significantly in a relationship that only lasts until the next gig comes along.

The Gig Economy & The Payments Modernization:

Now, even though there is an individualistic shine to the gig economy, it works as a global tool. It is connecting more and more people worldwide, even though it might be for one project. With so many new interests and ways to make a living, the time for thinking domestically is long gone. Anyone can start a Fintech company or a FOREX brokerage with the right resources and expertise. That means needing a comprehensive payments orchestration solution that can keep up with the modern world but is scalable for the future. 

Well, if that is what you need, then we here at the Zed Network can help you out. We work with FOREX and CFD brokerage firms, Fintech companies, Legal tech companies, and other international institutes and provide them with the best payment orchestration solution in the market. Not only does it let you conduct fast international money transfers, but it is also optimized for gig economy payments. 

So if you need a market-leading payment orchestration solution or have any more questions about the gig economy, please contact us or drop your questions in the comments below. Also, hit us up on our socials and send in your thoughts and suggestions on improving our services to better cater to your needs. And with that being said, that’s about all we have for you today. We will come back with something new for you soon. Until then, see ya!

Originally Posted: https://zed.network/gig-economy-explained-introduction-to-a-modern-concept/

Comparing Payment Orchestration Platforms: ZED VS Currency Cloud

ZED Network

Money transfer services are now one of the most in-demand parts of every business. The increase in demand for international money transfer needs being pivotal for trade and commerce as the online community is a global community. As the need for complete payment solutions become necessary to function in the modern world. There’s significant demand for customized payment orchestration platforms that meet the businesses’ demands and fulfill their needs. Because of this demand, there are plenty of payment orchestration platform providers popping up, providing different types of services. 

However, not all payment orchestration platform service providers will be able to meet your needs. So finding one that fits your needs is a must. Odds are the reason you are reading this is that you are on the hunt for the correct payment orchestration solution yourself. Well, you’ve come to the right place. Zed Network is a payment orchestration platform provider that works with FX traders & businesses, businesses that work in the cryptocurrency niche, and many other companies. 

So we thought we would give you a simple comparison between a popular payment orchestration platform in Currency Cloud vs. Zed Network to show you our complete prowess over the domain. But before we dive into the comparison. Let’s talk about what a payment orchestration platform is and the two companies up for discussion!

What Is Payment Orchestration?

So in simple terms, payment orchestration is how payments are collected through and where they settle. It also entails specifically who processes the payments. Let us break it down a bit more. So payment orchestration platforms are middleware payment facilitators that connect into one or more payment service providers (PSPs), acquirers, and banks. These software solutions are universally optimized for checkout, fraud software, intelligent payment routing, cross border payments. 

In other words, payment orchestration platforms are all about finding the best way to route a payment from checkout through to bank settlement and increasing payment conversions. It is vital for businesses as a seamless money transferring platform usually results in increased revenue, which means more money. Now that you know what the payment orchestration platform does, let’s talk about the two companies that provide this service. 

Currency Cloud

Currency Cloud is a payment orchestration platform provider that delivers multi-currency account infrastructure to businesses that want to execute and expand their offering. It provides quick access to virtual accounts that allows people to collect, convert, pay and manage multiple currencies simultaneously worldwide. Their policies are in line with the US, UK & EU regulations, making it a safe and secure option for businesses that transact globally. 

They offer in-depth support and ensure regulatory compliance for businesses. Currency Cloud was launched back in 2012, with the London office being their headquarters with additional offices in New York, Cardiff, & Amsterdam. Since its launch, the company has processed more than 65 billion dollars in over 180 different countries while working with some of the most prominent names in banking and Fintech. They’ve worked with several other high-end companies like Starling Bank, Penta, and Lunar while partnering up with the likes of Visa, Dwolla, Mambu, and Carta to build simple, clear financial infrastructure solutions.

Zed Network

Zed Network is a relatively new startup stemming from the minds that worked on ZipZap, a P2P remittance company that aimed to eliminate the exorbitant cross-border remittance costs. According to Zed Founder and entrepreneur Alan Safahi. the ZipZap team saw that helping the Money Transfer Operators (MTOs) with building efficient platforms will significantly impact. Within the first year of operation, the team realized the major problem plaguing MTOs and other companies is banking, cash flow, and technology issues.

The problem for many MTOs, FOREX & Cryptocurrency trading platforms, Fintechs, Legaltechs, and corporations is scaling up seamlessly and integrating dozens of corridors for sending and receiving payments. Simply partnering up with a payout partner takes around 6-12 months, and then the technology for integrating comes, which can take up additional months. So ZED Network partnered up with AEFX to create an API solution that allows merchants to connect to the same vast global payment network of large MTOs and trading platforms with much better rates. 

ZED focuses on domestic and cross-border payment acceptance (collections) and payouts (disbursements) with solutions that help clients avoid directly integrating with multiple payment processors, managing various platforms, and ingesting non-standardized reporting files. The purpose of this payment orchestration platform provider is to help FX trading platforms, Fintech & Legal Tech companies, MTOs, and multinational corporations have a seamless payment platform so that all their transactions go through seamlessly regardless of a border. The company mission is simple. It is to liberate foreign exchange transactions, removing the opacity, hidden fees, and complexity that has traditionally plagued them, and significantly improve cross border payments to minimize costs and make them simple, user friendly, and transparent.

ZED Network Vs Currency Cloud:

So now that you know the companies involved, we will now get into the main reason for today’s discussion and see how the two payment orchestration platform providers stack up to one another. You will find a table with metrics and features vital for all companies that work in the following. The values will be listed for both in their respective columns. We have divided the criteria into six different segments. They are:

  • Coverage
  • Payment Options
  • Licenses / Compliance
  • Technology
  • Cost
  • Other Aspects

So now that you know what criteria for the comparison will be, we can start looking into the tables themselves to see how both companies fare. Without delaying any further, check out the following tables:

Coverage

According to Safahi, for a payment orchestration platform provider, international coverage is vital. Things like available currencies, countries for acceptance and payout, liquidity or inventory, and settlement time are crucial metrics to check out when choosing a payment orchestration platform provider. 

Make The Right Choice

So there you go, that’s all there is to the Zed Network vs. Currency Cloud comparison. We covered every criterion you needed to know to decide which one is the best option for you. Remember, your business needs an experienced payment orchestration platform provider with versatile options. So choose wisely. If you want to know more about Zed Network, then feel free to contact us. 

Or if you have any other questions regarding payment orchestration, then leave them in the comments below or hit us up on our socials. We love hearing from you, so do hit us up. So with that being said, that’s about all we have for you today. We will come back with another payment orchestration platform provider comparison soon. If you want us to cover something else, please drop your suggestions in the comment section. Until next time, see ya!

Originally Posted: https://zed.network/comparing-between-zed-and-currency-cloud-payment-orchestration-platforms/

How Outsourcing Is Helping FinTech Startups

FinTech

Financial Technology or FinTech outsourcing is a business strategy used by financing technology companies to hire a third-party service provider to handle the various technological operations. Outsourcing reduces the workload for a company’s in-house team and therefore is considered effective for startups and small businesses.

The Fintech market will rise to $309.98 billion by 2022, according to the Business Research Company. The startups are growing faster as the FinTech industry is advancing day by day. According to Inflexion, mobile transactions are expected to rise to 88% of all banking transactions. As with traditional banks and other financial institutions, they can’t offer that much efficiency by default. Therefore, they have also started grasping the concept of FinTech. According to Zed Founder and entrepreneur Alan Safahi, the US is the most prominent FinTech market, consisting of the largest number of startups. After the USA, comes Asian countries like China and India who made themselves familiar with the idea of FinTech.

Benefits of Fintech Outsourcing:

Easy and efficient workflow:

Most of the responsibilities are taken up by the contractors for an efficient fintech operation. They are responsible for developing, disposing, and extending technical support of your software and apps.

Cost-efficiency:

You don’t need to spend plenty of money to develop techs and apps from scratch. You can do so by outsourcing, which can be done at a significantly low cost. 

No staff management expenses:

Outsource companies select and train the staff for handling the tasks for your company. Outsourcing doesn’t only let your work done efficiently but also cuts the expenses of hiring and managing your team.

Fully professional relationship:

A contract forges outsourcing partnership between the client and the company. As a client, you require to sign an agreement stating all the terms and conditions from both sides. This is to encourage a safe and secured partnership between the two.

You will only pay after seeing the results:

While an in-house employee may waste a lot of time acting busy, outsourced professionals don’t. They are always focused on their goal completion. You don’t need to the contractors beforehand. You are only expected to pay them upon the final results of the task.

How outsourcing is helping fintech startups:

Bigger companies tend to have in-house technology; however, in-house setups might sound a little intimidating for startups. In today’s world, spending a huge sum of money establishing and updating financial technology on regular terms seems impractical for startup businesses. That’s why outsourcing the tech needs is the fastest and cheapest method for startups. FinTech companies can use these outsourced technologies as building blocks to create their products and services. Outsourcing saves time and energy by taking off the loads that your company would have taken otherwise and developing your business.

By cutting down the cost:

Outsourcing technology is cheaper than developing it in-house. As I have mentioned earlier, it’s expensive and time-consuming. You need to cover the payroll, supplier payments, computer costs, administrative and management fees, vendor payments, etc. You also need additional office space, which can be a little challenging if you have just started your business. By turning to outsource, you can easily cut down the expenditure and limit your budget. A report has shown that 59% of companies outsource technology for cutting the cost and skip the hassle of building technology from scratch. Using outsourcing technology, you can operate a lot of functions that are already built into the system.

By ensuring flexibility and scalability to the business:

Flexibility is necessary for any business, and startups need it more. When you outsource the technology for your company, they make sure you get what you need to run a successful business. According to Safahi, you don’t need to hire additional employees or designers to create plans or try out the new framework. The outsourcing company already has resources to assist you with everything. Speaking about scalability, FinTech startups can scale up and down to meet their goals, unlike full-time staff. A survey has been conducted that FinTech startups use 20% of outsourced tech companies for delivering innovative capabilities.

By speeding up the market time:

As we know, outsourcing companies tend to contain more specialized employees and experts, which allows them to enable the service across the network. Enabling a more efficient service means speeding up the time to market. This speeding up doesn’t happen in the in-house development. A specialized outsource company consists of high quality, pre-made software like APIs, frameworks, industry-related libraries, etc. The greater your technology is, the higher your market value. The team’s wide range of expertise helps provide a better and more advanced technology than in-house ones.

Conclusion

Outsourcing tech solution is a smarter way of saving your money and working efficiently. That’s why most startups prefer this method to the traditional one. Outsourced technology companies help startups adapt and evolve and let them stay a step ahead of the competition.

Originally Posted: https://zed.network/how-outsourcing-is-helping-fintech-startups/ 

A Quick Guide to Forex Trading

The foreign exchange, currency trading, forex, or FX market is the fastest-growing market in the world. According to Alan Safahi, an experienced Forex trader, a professional entrepreneur, and the founder of a startup company in San Francisco, the daily turnover of the forex market is more than $2.5 trillion.

Safahi’s research shows that participation in the forex market is central banks, commercial banks, corporations, hedge funds, institutional investors, and private individuals like you. “Goods” in the forex market are currencies of different countries. You can buy U.S dollars with Euro, or you may sell Australian dollars for Japanese Yen.

Forex? What Is It, Anyway?

The primary advantage of forex trading is “leverage,” the ratio of investments to actual values. For example, using a $1,000 to purchase an FX contract with a $100,000 value means leveraging at 1:100 ratio. Alan Safahi Orinda says that the $1,000 is the amount of money you invest and risk. However, the profits you make are many times greater.

How Does One Profit In The Forex Market?

The general rule of thumb, according to Alan Safahi, is “buy low and sell high” to profit in the forex market. The potential of profit comes from changes or fluctuations in the foreign exchange market.

The stock market requires traders to purchase shares, but forex trading does not work this way. It does not require the physical purchase of a currency or currency pairs. It involves contracts for amount and rate of exchange for currency pairs.

How Risky Is Forex Trading? According to Alan Safahi’s research, traders can lose more than their initial investments, also known as the “Margin.” Although you can make unlimited profits, you will never lose more than the margin in the forex market. However, Safahi advises not to risk more than you can afford to lose.

How Do You Start Trading?

You can start forex trading by using different trading platforms. It is crucial to register and deposit the amount you want into your account. Remember, this is your investment. Ensure you register with a reputable platform that accepts payments through PayPal, Western Union, and all major credit cards.

You will start trading after the trading platform receives your deposit. Some FX trading platform offers operations online, anywhere, and anytime. It means you will have complete control and management options to monitor your trading activities. Likewise, you can check different scenarios, change terms in your deals, close deals, and withdraw profits.

What Are Components Of A Forex Deal?

Alan Safahi’s research highlights that a forex deal is a contract between the market-maker and the trader. The contract is composed of the following key components:

●       The currency pairs
●       The principal amount
●       The Rate
●       Time Frame
●       Spreads
●       Margins
●       Margin Level
●       Leverage
●       Risks

Final Words

Forex trading is a massive topic, and we can discuss it for days and months. However, this is a quick guide that gives some basic information to beginners. Remember, forex trading is an enormous liquid market, allowing people to trade a wide range of currencies. Because it is a volatile market, you can avail numerous profit opportunities.

It is crucial to study the forex market in detail before you start trading. You can read other blog posts on our website to learn about forex trading and benefit from Alan Safahi’s in-depth knowledge that he shares with his readers.

Originally Posted: https://alansafahi.weebly.com/blog/a-quick-guide-to-forex-trading

7 Tips Keep Track of Investments

Monitoring your investment is essential whether you work with an adviser or broker or perform all the trading activities yourself. When you keep an eye on your investment, it allows you to prevent smaller problems from turning into bigger issues.

Here are the seven steps to keep track of your investments. Read on!

1. Keep all Documents

Read and keep all documents and reports you receive from your mutual fund, investment advisor, or broker. Check these documents to ensure your account statements are accurate. According to Alan Safahi, an experienced entrepreneur and San Francisco-based startup company founder, it is crucial to communicate with your adviser or investment professional. The purpose is to identify and fix problems if any.

2. Get all Confirmations

Alan Safahi Orinda recommends getting all confirmation and account statements. Make sure you receive these documents directly. If you fail to look after your investments, you will experience a wide range of complications. Therefore, get copies of your confirmations and account states and send them to someone you trust if you can’t look after them yourself.

You can send these documents to a family member, accountant, or lawyer. The purpose is to have a pair of independent eyes that look after you. Follow up if you don’t receive confirmations or account statements. Remember, you have all the rights to this information. Not receiving these documents indicates a sign of trouble. So, be careful!

3. Ask Questions

It is essential to ask questions about the documents or information you receive about your investments. Ask questions if you don’t understand something. For example, sometimes, you will see unauthorized investments on your confirmations and account statements. In that case, you should communicate with your advisor or broker to analyze and fix the problems. Do not wait to see how your investments perform.

4. Get Access to your Online Account

If you don’t perform trading activities online, Safahi recommends registering or getting access to your online account. It enables you to review your account 24/7 and keep track of your investments.

You can verify the information sent by your advisor or broker and analyze your confirmations and account statements. You can also request them to send you confirmations or account statements via email.

5. Avoid Making Checks

According to Safahi, it is crucial to avoid making checks and other payments payable to your adviser, broker, or anyone else for your investment. In most cases, you should send money to your brokerage firm or another financial institution, such as a clearing firm.

Meeting with your investment professional and visiting the firm is significant because investments are important financial undertakings. It means you should have some degree of investigation and caution to streamline the process.

6. Conduct Independent Research

Conducting independent research on investments is an excellent way to keep track of your investments. You can read prospectuses, research reports, annual reports (Form 10-K), and quarterly reports (Form 10-Q) that companies make with the U.S Security and Exchange Commission (SEC). In addition, Safahi recommends accessing forms 10-K and 10-Q on the SEC official website.

7. Review Your Portfolio

Review your portfolio periodically and ensure your account’s securities meet your investment goals. According to Alan Safahi Orinda, it is crucial to understand and stay comfortable with your investments’ costs, risks, and liquidity.

Check the information on the file at your brokerage firm about your accounts as part of this review. Safahi recommends checking your new account agreements, margin agreements, discretionary account agreements, option account agreements, and other correspondences.

It is your right to know the information about you on the file. Ensure the brokerage firm’s records accurately reflect essential details about your age, income, financial status, net worth, long-term goals, and investment objectives.

Final Words

Tracking your investments is an excellent way to streamline your trading or business operations. If you see a mistake in your account or feel something is wrong, it is crucial to act quickly. Question any entry or transaction that you did not authorize. Good Luck!

Originally Posted: https://safahi.com/7-tips-to-keep-track-of-your-investments-17903f0504d2

Easy Fundraising Ideas for Businesses

Raising money for your business is a time-consuming and daunting task. According to Alan Safahi, it is the most challenging task for entrepreneurs. In today’s article, we will give you some valuable and easy fundraising ideas for your business by Alan Safahi Orinda, an experienced entrepreneur and founder of a successful startup company in San Francisco. Read on!

Crowdfunding

Safahi says crowdfunding is an easy and quick way to raise funds with no up-front costs. Pitching your business through different online platforms is a practical marketing solution, allowing media to pay your business attention.

So, ask potential customers and people to fund your company. In return, offer discounts and exclusive support to your prospective customers. There are many platforms that you can use to get funds.

These include “Go Get Funding,” “Kickstarter,” and “Indiegogo.” Alan Safahi says these are excellent resources to start your crowdfunding campaign. Safahi’s research shows that Kickstarter is a perfect platform with over 22,000 projects and raised a total of $529 in recent years. Similarly, Indiegogo has achieved a goal of a 1,000% increase in funds raised for the last two years.

Ask for Local Help

If you want to launch and run a startup company, you can ask for some local help. Safahi recommends checking with your state, county, or municipal economic development organizations for funding your company.

According to Alan Safahi, Small Business Administration (SBA) offers startup development centers across the United States to connect business owners or entrepreneurs with investors. The SBA has made substantial efforts to help companies succeed and increase their economies.

So, you can contact these agencies to get loans, grants, and other financial resources, depending on your company’s location and the business type you want to start. So, it is an excellent way to raise funds for your startup.

Karaoke Night

In addition to asking for some local help and running your crowdfunding campaign, there are several other ways to raise funds. For example, you can create a karaoke night event. Most people won’t resist a fantastic karaoke night because they love getting behind the microphone and singing their favorite songs.

So, you can organize a karaoke competition for a fee within your company to raise funds. Not only is karaoke night easy to arrange and organize, but it also enables you to offer other things to the participants, such as food and drink, to generate extra funds.

Bowling Tournament

Alan Safahi says that fundraising events work when they are engaging and entertain people. Bowling is a fun and entertaining activity for most people and a sure-fire way to raise funds for your company.

It is crucial to ask people to donate money to your startup or company before signing up for the bowling tournament. You must also offer a prize for the tournament’s winner and runner-up to have an enthralling competition and engage the participants.

Corporate Dinner

Alan Safahi Orinda recommends organizing a corporate dinner to let members of the corporate world enjoy indoor or outdoor dining. Hosting a corporate dinner is an excellent way to generate funds for your business.

Make sure you ask the participants or attendees to pay the ticket price to enjoy the dinner. You can also initiate auctions and raffles at your corporate dinner to generate additional funds for your company. Some other fundraising ideas for for-profit businesses are:

● Sports day event

● Company concert

● Casino night

● Bake sale

● Arm wrestling competition

● Darts competition

Final Words

Alan Safahi advises entrepreneurs and business owners to focus on fundraising because, without it, not a single company can develop a business strategy and streamline its operations. Not only does an effective fundraising strategy reduce financial risks, but it also helps you generate additional funds for your company.

Originally Posted: https://vocal.media/journal/easy-fundraising-ideas-for-businesses

Essential Steps Making First Trade in Forex

According to Alan Safahi, a professional entrepreneur and founder of a startup company in San Francisco, forex is a global market that allows people to trade 24/7 with lower transaction rates. It is a high-liquidity market and suitable for beginners, allowing them to purchase or sell currency pairs, depending on the market conditions.

However, if you don’t have enough knowledge of forex trading, making your first trade would become challenging. Safahi has conducted extensive research, and based on his experience and knowledge, he has come up with easy steps that can help you make your first forex trade. Read on!

1.     Select a Currency Pair

According to Alan Safahi Orinda, forex trading has a unique nature, allowing you to exchange one currency value for another. In simple words, you will purchase one currency and sell another simultaneously. Safahi says a forex trader always trades a pair of currencies.

In addition, beginners should start by trading commonly offered pairs of currencies. However, you can trade different currency pairs if you have enough money in your account. Safahi recommends trading in Euro and U.S dollars.

2.     Analyze the Market

Alan Safahi advises beginners to make research and analysis the foundation for their forex trading endeavors. If you fail to perform your research and analysis, you will operate on emotions, leading to a wide range of complications.

Safahi says you will find a wide range of forex resources when you start researching. Although it will seem overwhelming initially, when you study a particular currency pair, you will find valuable resources that you can use to streamline your analysis.

Make sure you look at the historical and current charts, monitor news for financial and economic announcements, consult indicators, and carry out other analysis activities. The purpose is to gain details about the currency pair that you want to trade.

3.     Focus on the Quote

In general, you will see two prices for all currency pairs. For instance, the first rate is the currency pair’s selling price, and the second rate is the price at which traders buy the currency pair. It is crucial to understand the concept of the “spread,” which is the difference between the first rate and second rate.

Spread is the amount that a forex dealer will charge for conducting the trade. Bear in mind that “spreads” vary from dealer to dealer. So, make sure you find a dealer who offers a competitive spread on different pairs of currencies.

4.     Pick Your Position

According to Alan Safahi Orinda, if you have traded financial products, such as bonds and stocks, you will know that you can speculate on one market direction – i.e., “UP.” However, forex trading is slightly different from other types of trading. Because you buy one currency and sell another simultaneously, you should speculate on the “UP” and “Down” movement in the forex market.

When you pick a “Buying” position, you think that the base currency’s value will rise compared to the quote currency. For example, if you opt to buy Euro and Dollar, you believe that the Euro’s price will go strong against the dollar.

On the other hand, when you pick a “Selling” position, you believe the base currency’s value will fall compared to the quote currency. For instance, if you want to sell the Euro/Dollar, you think or analyze that the Euro’s price will weaken against the U.S dollar.

Final Words

Forex trading is an excellent opportunity for beginners if they make efforts and improve their currency trading skills. The steps give above will help you make your first forex trade. Until Next Time!

How Pops are Helping Smaller Trades

Traders in the Forex field know that the forex market is a place with no emotions. It can be merciless to both big or smaller traders. Dealing with the market includes dealing with anxiety, emotional and intellectual constraints. Yet, bigger companies still have advantages over the smaller ones as they can afford minor losses on the surface level compared to new companies. Smaller companies also find it challenging to establish a good relationship with banks emphasis Alan Safahi. With that said, whether you are a small individual trader or market players, all are at high risk of losses.

How bigger traders have the upper hand in the market?

So, what sets the small FX traders and the more prominent market players apart? Nothing, other than the financial aspect. However, big traders also use human resources for trading and transaction; hence they can make mistakes out of greed, anxiety, and exhaustion. Although everyone in the forex market experiences emotional and psychological constraints, bigger traders suffer less than others.

Two notable features that work in favor of the trading giants are money and information sources. The financial aspect and information sources are the two major weapons used in the FX market against newer traders. Think of it, when you have these important aspects in your hand, you are likely to succeed in the game more than the others. That’s where these traders are doing right!

Financial aspects — The people in the field, for example, the portfolio managers, are being paid monthly with a handsome commission. Therefore, winning or losing doesn’t affect their income. So, they are definitely not in emotional constricts, unlike smaller individual traders. Also, the traders that work in banks or any other financial institutions have nothing to fear about losses because the money they invest is not theirs’, so they invest a large sum of funding with greater ease.

Information sources — Believe it or not, most of these larger traders have access to insider information, leading them to take a safe yet proactive approach regarding the forex market. They know what they can expect from the trade position and how likely it will change direction. This results in almost accurate speculation on how the market should move, giving these traders mental satisfaction.

Global trading and latency

Trading in the Forex market includes processing orders on a global scale. The market receives different currencies globally back and forth, which are then reassessed using the market data from major hubs like U.S, London, Singapore, Australia, etc. As a result, the data collecting process can give birth to an inherent latency. Latency is a term used to define the delay between an order request and the order’s execution. For a greater chance of profitability, lower latency is required. That’s because it can take a lot of time analyzing the market, communicating with the broker for order execution, and executing the order; further delay means slipping away from the transactional timing, resulting in price reduction. These latencies can be present in internet connections, various exchange servers, brokerage servers, hardware, and software. The slower process results in increased latency, which alters not only the market decisions but also the global transaction value.

To further understand how latencies can affect the trades, I am quoting the CEO and co-founder of Singapore-based forex platform Spark System, Wong JooSeng’s statement below.

“To send an order to buy or sell from Singapore to London or New York takes about 180 milliseconds. Then, you need to know whether the order was successfully done or not, and the time taken to receive a reply is another 180 milliseconds.”

“It becomes very difficult to transact,” he further added. “By the time you see a buying price here and try to execute that, parties in London and New York that are much closer and have a much quicker execution time would have the advantage, while everyone based here would be at a disadvantage.”

You see, even a latency of just 180 milliseconds can pose a threat to the traders. Hence, the concept of minimum latency is vital to gain a competitive advantage. Speaking of latency, do you know what other aspect gets affected by latency? Latency affects smaller traders because the transaction of money gets incredibly slower. This happens when traders are only limited to one payment method. Multiple payment methods thus help to solve this issue. If one payment route is laggy, you can try the other.

Why should smaller traders choose POP?

Payment orchestration platforms, like Zed Network, offer multifold transaction routes for traders. They support wire transfers, direct bank deposits, credit card transactions, mobile wallet deposits, and much more. They also support cash pick-ups and delivery in multiple currencies. Not only that, POPs use intelligent transaction routing for higher approval rates and lower costs. By using a transaction fail-over process, they avoid lost revenue and reduce declined transactions.

Final Thoughts

The forex market has its own strengths and weaknesses. Payment orchestrating platforms indeed is a revolution that happened for the market; however, it can’t address all the concerns. To maximize the efficiency of a level playing field, the market needs a plethora of information, awareness, and lesser latency, Alan Safahi says. With that said, we are hopeful that POPs will be a powerful tool to level the FX playing field so that no smaller traders in the forex market lose the competition and suffer.

Originally Posted: https://zed.network/how-pops-are-helping-smaller-traders/

Payment Orchestration Platforms Help Businesses

Payment Orchestration

Growing and scaling a global business is a daunting task. It can get really difficult to keep up with customer demands, the advancement of technology, economic progression in diverse geographic locations with varying customer demands, economics, regulations and risks.

What many companies and merchants overlook is the difficulties of launching and managing a multinational and diverse payment infrastructure.

Alan Safahi: These businesses tend to simply improvise and create an ad hoc payment system without long-term planning because it is not a fundamental part of a business’s core competence. In time, however, these businesses discover that a comprehensive payment orchestration process is required to successfully manage the operations and sustenance in the market.

The process is complex, and that’s why you require payment orchestration platforms to connect with banks and other payment services. The payment orchestration providers work hand in hand with new or established businesses in making a successful transaction flow. They now offer several payment tools that innovative and easy to use. These tools are taking off huge burdens of payment challenges from a merchant, freeing them from pains. In a nutshell, a payment setup has become more accessible for businesses and merchants. Let’s dive in deeper to understand the benefits of a payment orchestration platform.

It’s cost-efficient

If you have been in business for a while now, you may know that developing an in-house payment platform comes with a price. Many large brands invest a substantial sum of money in an in-house payment processing engine. While the investment is fruitful, not everyone is expected to handle that kind of expenditure. For building an in-house payment platform, you need to include aspects like implementing payment routing, providing customer services, minimizing costs that come with transactions, handling security concerns, monitoring, and reporting. All these can not only cost a fortune but demands human resources as well. Hence working with a payment orchestration platform (POP) allows a business to cut the expense required to build a payment setup and transactional costs. POP also reduces the operational and maintenance cost as it will enable effortless management for payment institutions from one place.

Collaborating with the payment market and institutions

The management of the payment market requires forging connections with various institutional operation components. For a smooth unification of the process, payment orchestration platforms help by acting as a technology layer with payment connections and infrastructures. The payment setup provides the ability to test various payment methods while simplifying the value chain.

Lets merchants take lesser payment stress

The payment platforms grant merchants the accessibility to developing their business without integrating payment infrastructure management. This helps you make strategies regarding your business prospect leaving all the complex payment processing action to the payment orchestration platforms. A POP manages payments and ensures all the technologies and tools are available to your business when you need them. POP will also help merchants improve their business and introduce new approaches and plans to execute an even more successful business.

Offers optimized payment system

Your business’ payment system needs to be optimized to achieve successful transactions. The POP helps you attain a strong payment route by offering a visually addictive checkout page, intuitive layouts, smooth customer experience, adaptability of payment systems for customers, and many more innovative features. Their payment routing allows flexible transactional flow using the best path for different regions. This ensures higher payment acceptance rates at a reasonable charge. POP doesn’t only enable transactional benefits but also offers reduced operational efforts, flexibility in payment methods, and easy access to modernized technologies for merchants’ convenience.

Allows a one-time integration environment

Even though many business giants integrate fast market entry to make their eCommerce platform a success, novel businesses and merchants struggle with incorporating local payment methods into their payment processes. POP thus allows a one-time integration environment for initial testing of the methods and providers before going live in a region. POPs also help to form connections across the world for business expansion by strategizing and weighing out differences.

Ensures uncomplicated customer experience

No matter how successful your business is or how many products you have in your inventories, what matters is how well your customer can relate to you. To increase your business’ relativity, you need to offer “the best” experience for your customer. And you do that by delivering fast and secure payment processing to your clients. A POP thus extends out a hassle-free payment approach by limiting the checkout steps, supplying a secure payment page, allowing tokenization capabilities for shoppers, and ensuring multi-fold fraud protections.

Final thoughts

Alan Safahi: When considering taking your business to the next level, a payment orchestration platform imposes many advantages. These advantages establish a successful transactional route for local and global customers and help to deduct high costs in the future that might affect the business.

Originally Posted: https://safahi.com/6-ways-payment-orchestration-platforms-help-businesses-9609a555aee2

Habits of Highly Successful FX Traders

Hey! Do you want to operate in the financial markets? Do you want to know what FX (FOREX) is all about? Well, you are in the right place. 

We will talk about the intricacies of FOREX and tell you about some of the habits that successful FOREX traders have. Our goal is to make sure you learn all about the practices that contributed to creating tremendous wealth for FOREX traders and their investors. 

Your actions and approach matters, as well as a FOREX trading plan that you will have to execute impeccably to find any success on the markets advice Alan Safahi

However, before we get into the habits of successful FOREX traders globally, let’s talk about what FOREX is. 

What Is FOREX?

FOREX stands for foreign exchange. It’s a decentralized global market for trading currencies. FOREX is one of the biggest markets in the world, where trillions of dollars are traded amongst traders from all over the world each day. 

FOREX trades are usually conducted between international banks, hedge funds, commercial companies, central banks, retail FX brokers, and investors. 

Successful traders create strategies that showcase a comprehensive understanding of the factors impacting currency exchange rates. 

While there is no ultimate FOREX trading plan, there are ways you can trade that will ensure you create a foreign exchange forecasting plan that works well for you. 

There are five factors you need to have comprehensive knowledge about, and they are:

  • Economic growth
  • Geopolitics or political stability
  • Monetary policy
  • Imports and exports
  • Interest rates

You have to make sure you have a detailed understanding of all the events, micro factors, and macro factors. The more in-depth your knowledge, the clearer and more accurate your prediction will be. 

You may have come across many sites that offer free FOREX predictions, but you should avoid them at all costs if you don’t want to lose your money. 

If you want to create a successful FOREX trading plan, make sure you maintain an FX calendar that tracks all the economic announcements, forecasts, and other vital information. 

Now that you know what FOREX is let’s talk about seven everyday habits of highly successful FOREX traders.

Proper Money Management

If you want to be a successful FOREX trader, you need to know how to manage your money and how much money you can risk. 

Knowing when to stop investing in a lost cause and when to take the profit and cash out are all vital skills you need to be successful. 

Your approach to money management might be different from other FX traders, but then the end goal is the same. So make sure you do enough research and gain ample skills to ensure proper money management.

Do Not Get Emotional With Your Trades

The FOREX marketplace is a ruthless place. You cannot be emotionally invested in your trades if you want to be a successful FX trader. Make sure you treat the winners and losers in your trade portfolio the same way. 

The more you can do this, the better it will be for you because you will see the numbers and impact more clearly. 

If your emotional state is a bit down because of the FOREX market, then take a break. Remember, you don’t want a cloudy judgment when making trades on the foreign exchange.

Find Your Winners & Stick To Them

If you are thinking about getting into FOREX trading and you’ve done some research, then it may seem like the most successful FOREX traders are right all the time. 

However, that’s never really the case. Finding the right choice for your FOREX portfolio is harder than it looks. Even a 50% success rate is considered a massive success amongst traders. When you do find your winners, then stick with them and hone in your FX trade strategies. 

Cutting Your Losses Before It’s Too Late

FOREX is a highly competitive market that can work efficiently against you as well as for you. You have to be vigilant and monitor all the aspects if you want to be successful when trading in the foreign exchange market. 

Make sure you monitor all the winners and cut your losses before you end up losing a lot of money. Do not wait for it to turn around; if you wait too long, you may never recover what you lost. Cut your losses early and live to fight another day.

Repeating What Works

Successful FOREX traders know what works and create a plan with those. One of the ways FX traders sustain their growth and profit is by repeating their forex trading plan. 

The market does change frequently, but certain things stay true regardless of the situation. You may have to tweak your FX trading plan now and then due to new developments, but it will remain more or less unchanged, and you should keep repeating the things that worked for you until they don’t.

Knowing When To Scale And When To Lay Back

Your position in the market depends on how you are performing. Whenever you are in a winning position, you should sensibly try and increase your position in the market without overextending yourself. 

Now, the opposite goes when you are losing in the foreign exchange market. If you gain losses, make sure you start cutting back on your exposure to ensure you remain operational. 

When scaling up or scaling back, you need the right sort of payment orchestration solution to ensure your operation remains efficient, and that’s where ZED Network can help you. 

We are a Payment Orchestration Platform (POP) perfect for FX traders, FinTech companies and financial service companies who deal with FOREX. So if you want a comprehensive payment orchestration solution, you can talk to one of our experts. 

Finding Your Bread & Butter

The FOREX market is vast, and if you want to be a successful FX trader, you need to find your unique cutting edge. Working on your niche will help you gain an advantage over other traders. 

You should find your niche, and when you find it, you will see that crafting a successful FOREX trading plan will become that much easier. 

Whether you are focusing on a single currency pair or going over hundreds of charts to find a high-probability, low-risk trade, or something else entirely, the choice is yours, and you have to find your niche if you want to succeed. 

POPs Can Help You Be A Successful FX Trader

So there you have it. Those are the seven habits of highly successful FOREX traders that you should know about. 

These are the first steps shared by Alan Safahi to mastering FOREX, and you should follow them fully for maximum impact on your bottom line. Along with that, you will need a comprehensive payment orchestration platform that will ensure all the transactions go through seamlessly and safely. 

Make sure you do your research when building your career as a FOREX trader and if you have any questions regarding payment orchestration, then feel free to drop them in the comments below or hit us up on our socials. 

Our experts will answer every question you have without hesitation. If you want to talk about a payment orchestration solution, you can contact our professional staff. 

And that’s about it for now. We will come back with something new for you soon. Until then, see ya!

Originally Posted: https://zed.network/habits-of-highly-successfull-forex-traders/

Building A Payment Processing Platform

The online economy is booming, and the need for payment processing platforms is at an all-time high. It makes processing payments simpler and handles all the bureaucracy that comes with online payments from one entity to another. There are plenty of reasons why businesses need a payment platform. It can range anything from reducing payment service fees, startups looking into offering a gateway in an underserved region to companies looking to move on from a white-label service that cannot provide the support they need.

Now, if you are thinking about building an online payment processing platform for yourself but still cannot make up your mind on whether you should or not, then you are at the right place. This article will answer some critical questions that will help you understand why you need to build your very own payment processing platform. We here at the Zed Network specialize in providing comprehensive payment orchestration services to a wide range of industries that include Fintech, Legal Tech, Crypto brokerage firms, FX brokerage firms, MTOs, and other multinational companies. So we know all there is to know about payments, global and international.

Not only that but Zed Founder and entrepreneur Alan Safahi has over 30 years of experience in the information technology, telecommunications, and financial services industries. Along with Safahi, our team consists of highly specialized individuals who are industry veterans and that’s why we acquired a unique perspective on what makes startups successful. When working with Zed, we have constantly come across entrepreneurs who doubt their need for a comprehensive payment processing platform. One of the most common discoveries we made is that many of them didn’t fully understand the size and scope of building a payment gateway from scratch.

The Zed Network team often had to clear misconceptions about the steps involved with creating and running your payment gateway. We realized that these questions are widespread, and many entrepreneurs are looking for answers. In the following passages, you will find the answers to the questions you have and help you understand all the things about building a payment processing platform. So without further delay, let’s begin!

Where To Start?

Now, you may think that the first thing you need to do is talk to developers and tech service providers, but that’s not what you need. To start the process of building a payment platform, you need to develop business relationships with either a payment processor or an acquiring bank.

Why Do You Need A Payment Processing Platform?

If you are thinking about offering a payment gateway as a service, then you need to connect it to a payment processor. It can be a merchant service or an acquiring bank, and these entities will move the transaction through the payment network. The payment processor will provide you with all the technical information you need to integrate your gateway with their system. Now, depending on your needs, you may even need to partner and integrate with several processors.

Why Do You Need An Acquiring Bank?

If you are looking to get a payment gateway of your own, you’ll need a payment processor and an acquiring bank. Merchants usually have a merchant account to accept digital payments, which are provided by acquiring banks. The acquiring bank or the financial institute works on processing credit or debit card payments on behalf of a merchant. Your acquiring bank is assuming all the risks for your business.

That’s why the bank or the financial institute will need specific financial commitments due to chargebacks, refunds, ACH returns, and potential fraud. You have to remember that acquiring banks are different from commercial banks that offer offers checking and savings accounts. However, commercial banks can have an acquiring division, but not all commercial banks can underwrite merchant accounts.

What Are The Technical Specs Requirements?

When you choose a payment processor, they will provide you with all the specifications necessary to integrate your payment gateway with their system and the overall payment network. Depending on your requirements and accepting many different payment types, you may need to get additional specifications from other acquirers or processors. These specs will help you make an informed decision on the technology you will need.

What Do You Need For Cross-Border Payment?

If you have a multi-national operation and need cross-border payment processing, you will need to partner with a specific processor that operates in multiple locations or partnerships with numerous processors. Local regulations on the regions you want to work in will also weigh on the choice of technology for your payment gateway. Local laws and standards can be a nuisance when growing your business in a region. That’s why working with a payment processor that has a comprehensive understanding of cross-border financial rules and regulations is a must.

What’s The Cost Of Building A Payment Gateway?

The average cost from our experience to create a payment gateway minimum viable product (MVP) is between 200 thousand to 250 thousand dollars. However, the pricing is dependent on the functionality you wish to incorporate into your gateway. The minimum viable product for a payment gateway will get you set up to accept credit and debit card payments.

How Long Will It Take To Build A Payment Gateway?

According to Safahi, It takes years to build a payment gateway from scratch, and that’s why companies usually use payment gateway service providers. Most payment gateway services can provide customized solutions according to your needs. Many processors or acquirers may take months or even years to decide to integrate with your payment gateway, and until then, it won’t be viable for market use. On average, you can chalk up the time to create an MVP payment gateway to a minimum of six months. However, it will likely fluctuate depending on the specifics of your request.

Do You Save Money In The Long Term If You Build A Payment Gateway From Scratch?

Well, that depends on the volume of transactions your gateway sees. If it’s large enough then maybe you will save money. Many think that if they host a payment gateway solution of their own, they can eliminate credit card processing fees that they are paying to their processor. Well, that’s completely wrong. Providers like Visa and Mastercard will always charge card network usage and/or processing fees.

The only way to eliminate interchange and settlement costs you will need direct integrations with card network providers. This is only viable if your company has revenues in billions. While you can bring down the surcharges with your payment gateway, that too depends on whether or not your revenue can offset the investment in building the payment gateway. There is also a wide range of charges that comes with owning and operating a payment gateway.

The additional cost of paying for servers and gateway product maintenance is just some you cannot avoid amongst many others. Now, suppose it’s eliminating third-party gateway-related fees and offsets the annual price of gateway maintenance, PCI DSS audit, certifications, and other myriad costs. In that case, we recommend you take up building a payment gateway. Otherwise, it won’t be worth the trouble.

What About Security?

Security is vital to boost customer confidence, and a secure payment gateway with a fraud detection system will help you avoid chargebacks and other problems resulting from fraudulent purchases. So, what security measures do you have to ensure? Well, let’s check them out! Simply partnering with a processor and getting technical specifications for integration is just the beginning.

PCI DSS

PCI DSS. Any business that holds cardholder information must comply with the Payment Card Industry Data Security Standard or PCI DSS. It’s a list of practices that companies use to improve the security of card transactions and protect cardholder information from theft. Remember, the fallout from a security breach isn’t limited to losing computer data.

It can lead to many problems like loss of customer confidence, loss of future sales, or the threat of legal action. It can even lead to fines per PCI DSS non-compliance and losing their merchant account if they have one. So, what level of PCI DSS do you need to comply with? Well, that depends on which level you fall under. There are four levels of PCI DSS compliance, and deciding what you need to comply with is a bit tricky. So let’s break it down a little bit more:

Collection: Where will the cardholder information be collected. Will it be on the customer’s browser, the merchant’s server, or the payment gateway server?

Storage: Whether the card data will be stored on the merchant’s servers or the payment gateway’s servers.

Transmission: How is the data transmitted to the gateway?

Processing: How is the data processed? Is it processed by the merchant or by the payment gateway?

Now, several technologies you can use to ensure the security of customer information and protect the data against cyberattacks. However, taking up one or a combination of these services won’t constitute PCI DSS compliance. It’s a multi-faceted set of standards that cover a range of topics and disciplines. You can find more about PCI DSS on the PCI Security Standards Council’s website. But to help you out, let me tell you about the technologies that can help you build a payment gateway.

EMV

The EuroPay, Mastercard, and Visa or EMV is the global standard for credit and debit payments based on chip card technology. All chip card transactions contain dozens of information exchanged between the card, POS terminal, and the acquiring bank or processor’s host. Now, EMV doesn’t replace PCI, but it was created to defend against the fraudulent use of cards in a store. However, if you want to accept any credit card transactions, then you have to prove you can handle EMV transactions.

EMV 3-D Secure

The EMV three-domain secure or EMV 3DS is a messaging protocol that allows consumers to authenticate themselves when making card-not-present (CNP) e-commerce and m-commerce purchases. It works as an additional security layer that helps prevent unauthorized CNP transactions, protecting merchants from fraud. The 3DS has three domains. They are the merchant/acquirer domain, issuer domain, and interoperability domain. It’s the perfect technology that streamlines the user experience by improving communication ‘in the background’ between the issuing bank, the acquirer, and the merchant.

Tokenization

It’s a process that protects sensitive data by replacing it with a token and is a measure that’s used to prevent credit card fraud. With tokenization, the cardholder’s primary account number is replaced with the token then it’s passed through the various networks needed to process the payment. The best part is that the actual bank details are never exposed as stored in a secure token vault. While it doesn’t ensure merchant PCI compliance, it is considered the best practice and helps reduce PCI DSS scope.

P2PE

Peer-to-peer encryption, or P2PE, is a system that organizations use to create a secure communication between devices. It protects transmitted sensitive information from exposure to intermediate devices on the same network. The best part is that it’s usually used as a compliance solution for PCI DSS.

So that’s about it for the security aspect of a payment gateway. As you can see, there is a wide range of compliance and regulations you need to ensure consumer security. These are considered vital parts of building a payment gateway.

Work With A Payment Processing Platform

So that’s about it. These are the usual questions I have faced when working with many Fintech, legal tech companies, and FX brokerage firms. Hopefully, now you know what you need to build a payment gateway. If you are looking for steps on building it, then you can check out the steps on building an ideal payment gateway where I explain in detail what you need to build a payment gateway.

However, if you are a company that doesn’t have revenues in the billions, we suggest you work with an online payment orchestration and processing service like Zed Network. We here at Zed specialize in providing highly efficient payment orchestration layers for all sorts of companies, even companies with multi-national payment processing needs.

So if you are looking for the perfect payment orchestration solution, then contact us. If you have any questions regarding payment gateway or payment processing, drop them in the comments below or send them in on our socials, and we will answer them all. And that’s about all I have for you now. Make sure you check out the steps of building a payment gateway or some of my other articles. I will come back with something new for you soon. Until then, see ya!

Originally Posted: https://vocal.media/journal/answers-questions-on-building-a-payment-processing-platform

Reasons Companies Need B2B Payment Strategies

Payment Strategies

According to Alan Safahi’s research, consumers spend more with cashless or contactless payment options in 2021. Alan Safahi is a leading entrepreneur, advisor, and founder of a San Francisco-based Start-up Company who has done tremendous research on B2B payment strategies for businesses. Safahi says there was over $4.1 trillion in digital transactions in 2019.

Digital payment methods, including the incorporation of B2B strategies, have accelerated during the Covid-19 pandemic. Alan Safahi Orinda’s research shows that virtual card spend will grow to $355 billion in 2021 and 2022, which was $136 billion in 2017. In 2013, the gross merchandise volume (GMV) of B2B payments was $5.83 trillion.

However, it reached $12.2 trillion in 2019. Over 1.31 billion people will use mobile payment applications by 2023. These stats show the significance of B2B payment strategies for businesses. In today’s article, we will mention five reasons companies need B2B payment strategies. Read on!

1. Improved Cash Flow:

B2B payment strategies offer an integrated automated virtual solution to improve your company’s cash flow. With B2B payments, you can cut your payment cycle by 50%. For instance, you will receive a clear statement and bill after every transaction.

When you pay your suppliers on time, you can take advantage of a longer payment period and increase your profit. Therefore, B2B payments offer improved cash flow and a free credit line than standard bank transfers.

2. Automation and Ease:

According to Alan Safahi Orinda, manual work leads to increased stress, making it challenging for companies to run multiple processes for paperwork and checks. On the other hand, B2B payments decrease the number of vendors significantly while allowing you to run multiple processes for paperwork and checks smoothly.

Not only do B2B payments save your accounting department a lot of time, but they also enable your employees to spend more time on strategic and value-added initiatives to streamline and grow your business. Because all expenses are typically settled centrally, a B2B payment strategy eliminates error-prone individual settlements.

3. Better Control:

A B2B payment strategy, such as virtual cards, allows for easy, simple, fast, and reliable online card generation. You can lodge these cards with your suppliers to settle all expenses centrally with a streamlined summary in one single statement.

That way, you can see a bigger and detailed picture through proper analytics and back-end reporting. Safahi says better financial control is directly proportional to streamlined business operations, leading to business growth and increased ROIs.

4. Better Rates Negotiation:

A B2B payment strategy enables you to engage with your business suppliers and negotiate better rates. When you analyze the bigger picture, patterns, and data, you can deal with your suppliers in a better way. Bear in mind that you must incorporate a suitable B2B strategy that aligns with your business.

For example, a B2B strategy is essential for the procurement department. According to Alan Safahi, if a business wants to generate maximum value, it must focus on a mutually beneficial value proposition. If you are a buyer, you will see a reduction in days payable outstanding (DPO), meaning you will pay earlier to get better supply rates.

5. Secure Transactions:

B2B payment solutions lead to secure transactions and reduce fraudulent activities. Safahi says digital B2B payment strategies make it faster to issue, process, and receive payment, leading to secure business cash flow.

The latest technology innovations will make B2B payments safer, smarter, and more secure, leading to seamless and efficient payment processing. Safahi’s research shows that artificial intelligence (AI) will play a crucial role in address frauds worldwide in the near future, making B2B payments more secure.

Final Words

Alan Safahi advises companies to incorporate B2B payment strategies to achieve convenience and accessibility. You can self-service and pay invoices at any time with digital payments. Lastly, digital transactions are safer and more secure than traditional methods because they have secure gateways and streamlined processes, making it challenging for hackers and criminals to breach.

Originally Posted: https://vocal.media/journal/5-reasons-companies-need-b2-b-payment-strategies

7 Habits of Highly Successful FX Traders

FX Traders

Hey! Do you want to operate in the financial markets? Do you want to know what FX (FOREX) is all about? Well, you are in the right place. 

We will talk about the intricacies of FOREX and tell you about some of the habits that successful FOREX traders have. Our goal is to make sure you learn all about the practices that contributed to creating tremendous wealth for FOREX traders and their investors. 

Your actions and approach matters, as well as a FOREX trading plan that you will have to execute impeccably to find any success on the markets advice Alan Safahi

However, before we get into the habits of successful FOREX traders globally, let’s talk about what FOREX is. 

What Is FOREX?

FOREX stands for foreign exchange. It’s a decentralized global market for trading currencies. FOREX is one of the biggest markets in the world, where trillions of dollars are traded amongst traders from all over the world each day. 

FOREX trades are usually conducted between international banks, hedge funds, commercial companies, central banks, retail FX brokers, and investors. 

Successful traders create strategies that showcase a comprehensive understanding of the factors impacting currency exchange rates. 

While there is no ultimate FOREX trading plan, there are ways you can trade that will ensure you create a foreign exchange forecasting plan that works well for you. 

There are five factors you need to have comprehensive knowledge about, and they are:

  • Economic growth
  • Geopolitics or political stability
  • Monetary policy
  • Imports and exports
  • Interest rates

You have to make sure you have a detailed understanding of all the events, micro factors, and macro factors. The more in-depth your knowledge, the clearer and more accurate your prediction will be. 

You may have come across many sites that offer free FOREX predictions, but you should avoid them at all costs if you don’t want to lose your money. 

If you want to create a successful FOREX trading plan, make sure you maintain an FX calendar that tracks all the economic announcements, forecasts, and other vital information. 

Now that you know what FOREX is let’s talk about seven everyday habits of highly successful FOREX traders.

Proper Money Management

If you want to be a successful FOREX trader, you need to know how to manage your money and how much money you can risk. 

Knowing when to stop investing in a lost cause and when to take the profit and cash out are all vital skills you need to be successful. 

Your approach to money management might be different from other FX traders, but then the end goal is the same. So make sure you do enough research and gain ample skills to ensure proper money management.

Do Not Get Emotional With Your Trades

The FOREX marketplace is a ruthless place. You cannot be emotionally invested in your trades if you want to be a successful FX trader. Make sure you treat the winners and losers in your trade portfolio the same way. 

The more you can do this, the better it will be for you because you will see the numbers and impact more clearly. 

If your emotional state is a bit down because of the FOREX market, then take a break. Remember, you don’t want a cloudy judgment when making trades on the foreign exchange.

Find Your Winners & Stick To Them

If you are thinking about getting into FOREX trading and you’ve done some research, then it may seem like the most successful FOREX traders are right all the time. 

However, that’s never really the case. Finding the right choice for your FOREX portfolio is harder than it looks. Even a 50% success rate is considered a massive success amongst traders. When you do find your winners, then stick with them and hone in your FX trade strategies. 

Cutting Your Losses Before It’s Too Late

FOREX is a highly competitive market that can work efficiently against you as well as for you. You have to be vigilant and monitor all the aspects if you want to be successful when trading in the foreign exchange market. 

Make sure you monitor all the winners and cut your losses before you end up losing a lot of money. Do not wait for it to turn around; if you wait too long, you may never recover what you lost. Cut your losses early and live to fight another day.

Repeating What Works

Successful FOREX traders know what works and create a plan with those. One of the ways FX traders sustain their growth and profit is by repeating their forex trading plan. 

The market does change frequently, but certain things stay true regardless of the situation. You may have to tweak your FX trading plan now and then due to new developments, but it will remain more or less unchanged, and you should keep repeating the things that worked for you until they don’t.

Knowing When To Scale And When To Lay Back

Your position in the market depends on how you are performing. Whenever you are in a winning position, you should sensibly try and increase your position in the market without overextending yourself. 

Now, the opposite goes when you are losing in the foreign exchange market. If you gain losses, make sure you start cutting back on your exposure to ensure you remain operational. 

When scaling up or scaling back, you need the right sort of payment orchestration solution to ensure your operation remains efficient, and that’s where ZED Network can help you. 

We are a Payment Orchestration Platform (POP) perfect for FX traders, FinTech companies and financial service companies who deal with FOREX. So if you want a comprehensive payment orchestration solution, you can talk to one of our experts. 

Finding Your Bread & Butter

The FOREX market is vast, and if you want to be a successful FX trader, you need to find your unique cutting edge. Working on your niche will help you gain an advantage over other traders. 

You should find your niche, and when you find it, you will see that crafting a successful FOREX trading plan will become that much easier. 

Whether you are focusing on a single currency pair or going over hundreds of charts to find a high-probability, low-risk trade, or something else entirely, the choice is yours, and you have to find your niche if you want to succeed. 

POPs Can Help You Be A Successful FX Trader

So there you have it. Those are the seven habits of highly successful FOREX traders that you should know about. 

These are the first steps shared by Alan Safahi to mastering FOREX, and you should follow them fully for maximum impact on your bottom line. Along with that, you will need a comprehensive payment orchestration platform that will ensure all the transactions go through seamlessly and safely. 

Make sure you do your research when building your career as a FOREX trader and if you have any questions regarding payment orchestration, then feel free to drop them in the comments below or hit us up on our socials. 

Our experts will answer every question you have without hesitation. If you want to talk about a payment orchestration solution, you can contact our professional staff. 

And that’s about it for now. We will come back with something new for you soon. Until then, see ya!

Originally Posted: https://zed.network/habits-of-highly-successfull-forex-traders/

Why You Need Payment Orchestration For Your Business

With the new decade well on its way, e-commerce has safely established itself as the primary way people buy things. In 2020, the US recorded 10.8 billion dollars in sales on Cyber Monday alone according to Forbes, a 15% jump from the previous year. 

Because online customers look for convenience when shopping, card-not-present transactions have become widespread which drives more sales for online businesses. 

As an online merchant, your main goal is to provide a smooth buying experience for your customers, and a vital part of that is creating a seamless payment flow. 

People often forget that payment issues are one of the biggest reasons cart abandonment numbers can go up for a business. Providing your customers an excellent online shopping experience goes a long way toward building a successful business, and that’s why you need to create a payment stack. 

According to Zed Founder and entrepreneur Alan Safahi, your payment stack should work seamlessly with the entire website to ensure the customer journey is as pleasant as possible. That way, you can guarantee future business. 

You have to be able to check payment for fraud, authorize the payment, and then complete it while notifying the customer, and you have to be able to do this within a fraction of a second. 

The website should also be able to store card information for customers who want to use the same card for future purchases, and for all of these things, you need a payment orchestration layer. 

So you might be wondering what payment orchestration is and how it can help your business, right? Well, here in the following passages, we will talk about all there is to know about it. 

Hopefully, by the end, you will know what it is and the payment orchestration pros and cons, and why it’s a must-have integration for your business. So let’s get into it!

What Is Payment Orchestration Platform (POP)?

A payment orchestration platform helps you consolidate all your payment technology in one stack to create an efficient process without using an in-house payments team. 

ZED Network provides payment orchestration solutions to businesses that need an efficient payment platform with all the advantages of the largest merchant without the need for a bloated payments team. 

Every successful merchant needs a payment platform that allows for fast check-out. The entire process where the card is verified, authorized, charged, and the customer notified about the order going through needs to be within a few seconds. 

Your website needs a payment gateway to properly check a consumer’s card for fraud, check regulatory requirements, and plenty of other factors. 

Another aspect your payment platform should be able to accommodate to check the status of the card. All these factors play a vital part in the success and decline rates of your business. 

In the old days, ‘ e-commerce businesses could get away with one payment gateway solution for their business, but that’s not the case anymore. With new-age customer behaviors utilizing one payment gateway is not a possibility anymore. 

An efficient payment platform is something you need now, and it will help you reduce declines, improve latency, and maximize gateway availability. 

According to Safahi, using the right POP, you will be able to better manage your payment flows. It will help you consolidate multiple payment gateways, third-party payment services, and fraud tools into one view. 

A POP will especially come in handy if you are a business that handles orders from all over the world. Now that you know what a POP is, let’s start talking about why creating it in-house can hurt your business.

Down Side Of Developing A Payment Solution In-House

If you are a small to medium-sized business and don’t have a payment gateway development team in-house, then your decision to build a payment platform might be a bad one. Here are some of the cons of trying to develop a payment orchestration layer:

  • Building a payment platform is a developmental burden for your dev team. You will have many internal projects for your team, and adding more will hamper the flow of development. If you are not using developers who are experts in developing payment platforms, it might even hinder your business. 
  • Building the payment platform in-house will result in uncentralized and incompatible analytics. As a business, you need a lot of data, especially from the sales you make. Insights like total volume, number of payments, average ticket size, percentage of refunds, acceptance rates, ETC are essential. So you have to work with trusted PSPs (Payment Service Providers) will help you grow faster.
  • Often with an in-house option, you won’t always be able to match the standard data formats. Using a POP that follows industry standards will help you manage administrative work overload. You will be able to flag outstanding transactions and overcharges for efficient payment solutions quickly.
  • When building a payment platform yourself, you will be overloaded with integrating and managing communications between different payment processors, payment facilitators, and gateways. Creating the right payment platform takes time, and it might exhaust your time from focusing on other aspects of your business. 
  • When setting up your business, there will be a lot of development work to be done. From Billing, ERP; CRM; to ERP, there are plenty of things you will need to do. When you are creating your own payment platform development, it might hamper your timeframe to bring the business to the market. 

Now that you know the cons of building your payment orchestration layer let’s talk about the pros of having a professional service provider’s custom payment solution. 

Pros Of Utilizing A POP

A POP helps bring many things in one place through a single API. Companies like ZED Network provide custom payment orchestration services. 

We integrate with all the right partners including Payment Service Providers, Acquirers, Processors, Gateways, Networks, and Security Vendors in one single platform. 

Here is what a custom payment orchestration platform helps you with:

  • You have access to advanced big data analytics in one single dashboard to help you optimize your business. 
  • It allows you to ensure automatic reconciliation. With the right POP, you will be able to reconcile transactional statements automatically. 
  • It’s based on previously agreed rules the distinct payment providers set on inconsistencies in processing fees and payout schedules.
  • Offers dynamic routing. Meaning you will be able to ensure a perfectly optimized solution. The Payment orchestration platform will help you with the acceptance and processing rates.
  • You can easily ensure perfect risk management with high-end risk assessment solutions with custom payment orchestration layers.
  • It allows you to take control of tokenizing cards. With you in control of Dynamic Routing capabilities, you can control each payment provider to perform tokenization independently, ensuring payment flow efficiency.

Now that you know the pros of having a custom payment orchestration layer let’s start talking about the benefits. In the following passages, you will find out how a custom payment orchestration layer helps your business.

Benefits Of A Payment Orchestration Platform

Regardless of your business’s size, a payment orchestration platform goes a long way into ensuring operational efficiency. While a smooth checkout experience is a fantastic benefit, a custom payment orchestration layer is a few other things. 

A good POP will let you salvage lost sales. Often businesses lose sales when transactions are declined. With the right payment orchestration layer, you will be able to monitor your decline rates, which will help you improve. 

You have to be able to manage multiple currencies with many payment gateways within your stack. Investing your time and money in acquiring customer attention is your business’s purpose, but losing customers due to transaction failures will be detrimental to your business. 

You have to build the average customer lifetime value, and knowing the reason behind your decline rates will allow you to improve your sales numbers.

Another thing that the right payment orchestration layer will be able to help you out with risk management. Custom payment orchestration layers have exceptional fraud prevention and detection tools that optimize your payment flow. 

Digital fraud is a big problem for online businesses, so working with the right team for your payment orchestration layer is imperative for creating a safe business environment for your customers. 

Work With The Right POP

So there you go; these are the reasons why you need a payment orchestration layer for your business. Creating a payment platform on your own isn’t a viable option as it would mean you will be allocating your valuable time and resources away from other developments. 

Working with the right POP is the way to go if you want to create an efficient payment flow. So take your time, do some research, and find the right team to develop your payment platform. 

If you have any questions regarding building an optimized payment orchestration layer, then feel free to get in touch with our developers. We will be more than happy to help you with all your queries. 

If you have any questions regarding payment gateway solutions, you can also put them in the comments below or hit us up on our socials. 

So that’s it for now. We will come back with something new soon for you. Until then, see ya!

Originally Posted: https://zed.network/payment-orchestration-for-business/

An Immigrant’s Journey pinnacle of Global Payments

Global Payments

Iranian-born Alan Safahi is a start-up founder, advisor, and entrepreneur who has emerged as a technology mogul in the United States and Canada. He is the founder of the ZED Network, an innovative platform that provides clients with access to the most comprehensive cross border payment networks with the highest FX rates. 

Safahi has successfully launched 6 startups over a span of 30+ years. He was previously founder of ZipZap, a P2P online remittance company, helping unbanked or underbanked people successfully engage in e-commerce.

Using ZipZap, customers were able to take a computer-generated voucher with a barcode that resembled a utility bill that they could take to Walmart, CVS, or any other establishment that facilitates the covering of bills and make payments. ZipZap was one of the platforms that made the purchase of Bitcoin possible in its early days as it could not be purchased with credit cards.

Alan Safahi is committed to making remittances more affordable and smoother. He is also a firm believer in the viability of Bitcoin and other crypto currencies as well as the blockchain technology.

Safahi believes that remittance is possibly the best use of cryptocurrencies.  However, Safahi’s latest venture, ZED Network, a payment orchestration platform focused on cross-border payment acceptance and payouts in more than 200 countries, utilizes traditional banking and card payment rails not cryptocurrencies because, as Safahi explains, cryptocurrencies still need to evolve and better address compliance and risks associated with payments, before they can replace traditional payment rails..

The company’s payment partners are typically institutions such as banks, licensed Money Transfer Operators (MTOs), payment processors, and Foreign Exchange Processors with FX rates that are highly competitive, resulting in customer benefits.

Safahi has over 3 decades of hands-on experience in areas such as information technology, telecommunications, financial services (FinTech), payment processing, foreign exchange and cross border remittances.

He has served as an advisor to several startup CEOs in the blockchain, payments, loyalty, and transportation industries such as Ripple, Bold Financial Technologies (acquired by Airbnb), Zuum Transportation and Loyyal.

To learn more about Alan Safahi, you may find him on LinkedIn. You may also visit ZED Network for more information on this innovative platform.

Originally Posted: https://www.ktvn.com/story/43350886/an-immigrants-journey-to-the-pinnacle-of-global-payments

Tips Streamline Payment Processing Strategy

According to Alan Safahi, an experienced entrepreneur and founder of a startup company in San Francisco, a solid payment processing strategy focuses on automating transactions between merchants and customers. Essentially, third-party services offer payment processing services, including accepting and verifying transactions. How to streamline your payment processing strategy? Here are the top seven tips. Read on!

1. Do your Research

Research is an essential aspect of doing business and optimizing operations. Performing thorough research means understanding the types of payment processing methods, choosing the right solutions, and implementing them accurately. Offline and online payment processing are two main methods, meaning you need to select the one that best fits your needs and your customers’ requirements.

2. Use Multiple Payment Options

Alan Safahi Orinda recommends offering multiple payment options for your customers, meaning you need to look beyond credit cards and debit cards. Research shows that customers in the 21st century want different options. Therefore, implement mobile payment features, contactless payments, and EMV payments.

3. Customer Data Management

All transactions, including online transactions, come with a large volume of data. It includes information about the customer, purchases, and shipments. Safahi recommends collecting and organize different data points to generate patterns, allowing you to use them on the market effectively.

4. Reduce Fraudulent Activities

Fraudulent activities are one of the most significant sources of loss because when you have chargebacks, you lose money. That’s why Safahi advises implementing a payment processing strategy that focuses on fraud prevention through high-level security protocols, including CVV code requirements, multi-factor authentication, two-way verification, etc.

5. Update the Payment Processing System

Alan Safahi Orinda has conducted thorough research on payment processing systems, and according to Safahi, declined payments are often due to system problems rather than payment methods. An obsolete or outdated payment system can’t manage a new credit or debit card, leading to payment rejection. Therefore, Safahi recommends updating the system to streamline the entire process.

6. Implement Reporting Methods

A payment processing system without integrated reporting methods can lead to ineffective payments. On the other hand, Safahi says that reporting tools allow you to analyze data, generate financial insights, and use this information to make better and informed decisions.

For instance, integrate a reporting tool with your payment processing system to streamline data analysis, including outstanding balance, payment requests, personalized text messages, etc.

7. Automate Exception Resolution

Many problems, such as incorrect customer or supplier information and data entry errors, can lead to invoice exceptions. Most companies resolve exceptions by hand that cost a lot of time and energy. Invoice exceptions are challenging and costly for businesses. According to Alan Safahi, you will achieve a more streamlined payment processing strategy when you automate exception resolution.

Final Words

A reliable payment strategy plays a crucial role for all businesses to achieve profits and survive in the long run, leading to more streamlined operations and overall success. If your business or company struggles to reach or complete its payment processing targets, follow the tips given above.

Originally Posted: https://safahi.com/top-7-tips-streamline-your-payment-processing-strategy-4309f7fe91e1

7 Fundraising Challenges Faced by Entrepreneurs

Entrepreneurs

Alan Safahi, a startup founder in San Francisco and an experienced entrepreneur, says a promising startup requires unique business models and innovative products. Although most entrepreneurs focus on business models, Alan Safahi Orinda says that they ignore concentrating on fundraising. While fundraising is essential, it comes with many challenges.

1.     Lack of Patience

Most entrepreneurs want to raise funds quickly, which prevents them from attracting reliable investors. A lack of patience can prohibit you from building an experienced and skilled team of industry professionals. As a result, you don’t gain traction, market share, and key metrics to prepare a more in-depth pitch.

2.     Finding the Right Investor

According to Alan Safahi, each investor has different investment preferences, including the industry, the money of money they want to invest, level of risk, and investment timelines. Therefore, most entrepreneurs do not perform proper homework to find the right investor for their company and don’t know how to reach them.

3.     Low-Performing Pitch:

Although no pitch is perfect, Safahi says if your pitch has gaps like flawed assumptions, customer analysis, and ineffective strategy, you won’t attract a reliable investor. Beginners usually don’t know how to eliminate red flags, such as acquisition predictions, lack of knowledge on competitors, and not asking for a nondisclosure agreement.

4.     No Funding Strategy:

Most investors develop their strategies to support some businesses over others. Safahi says that entrepreneurs need their own strategy when raising funds. For instance, focus on business areas that require improvement and develop a plan that focuses on putting the capital towards the essential ones. Because entrepreneurs do not focus on metrics, they don’t know how to answer investors’ questions or give them a timeline for the future.

5.     Lack of Planning:

Safahi says raising funds is a significant undergoing and requires you to reach out to connections constantly and schedule meetings. Although most entrepreneurs focus on improve their pitches, they don’t meet angel investors and ignore planning future funding rounds on using the capital. All this can lead harm your business and prevent you from raising capital.

6.     No Articulation of Funds Requirements:

According to Alan Safahi, entrepreneurs who fail to substantiate or articulate funding requirements usually don’t raise enough funds for their new business. The primary reason behind this is that you don’t think from the lender’s perspective. Remember, the lack of preparation or substantiating funds requirements makes it challenging to analyze facts and figures, leading to a failed lending process.

7.     Using Unsolicited Emails:

Safahi argues that entrepreneurs who use unsolicited emails fail to connect with angel investors. Because investors receive thousands of emails every month, they ignore the unsolicited ones. Consequently, you get lost in the crowd even if you have an excellent idea. Therefore, make sure your email comes from a trusted investor or referral. Otherwise, potential investors may not consider your proposal.

Final Words

According to Alan Safahi, most fundraising performed by entrepreneurs is activity-centered instead of result-oriented due to an ineffective framework, less credible pitch, and lack of communication.

Originally Posted: https://buzztum.com/7-fundraising-challenges-faced-by-entrepreneurs/

Forex Trading Tools for 2021

Forex Tranding

According to Alan Safahi, a leading entrepreneur and San Francisco-based start-up founder, the foreign exchange market is unique in various ways. It offers a wide range of benefits, such as low cost, high liquidity, leverage, volatility, low capital requirements, and no restriction on shorting.

Because forex trading is unique, it is crucial to know the best trading tools to improve your bottom line. In today’s article, we will briefly describe some of the best trading tools. Bear in mind that we have selected the following tools based on Alan Safahi Orinda’s personal experience. Read on!

1. E-Trade

E-trade is one of the most valuable tools for forex traders. Established in the early 80s, E-trade provides a premium experience to traders, offering a wide range of features and benefits. Alan Safahi says that investors can benefit from zero-commission trades and join the community to ensure professionals manage their accounts.

E-trade is a perfect tool for risk analysis, charting, including historical charting and advanced intraday charting. The tool has an easy-to-use web interface and mobile application, allowing you to trade at all times.

2. Mataf

Mataf is a popular currency correlation tool for forex traders. You can use this tool to list correlations precisely and analyze interval codes. For instance, you can find a perfect inverse correlation, strong inverse correlation, moderate and weak currency correlations.

The tool also allows you to create a correlation table of a specific currency with respect to other currencies. You can compute one or more historical periods and put them in the box for intersection in the table. Safahi says a currency correlation tool like Mataf is an ideal solution for forex traders.

3. Ninja Trader

Ninja Trader is an excellent platform and high-quality tool that offers rich resources to forex traders. It includes over 100 technical indicators and offers automated trading options. If you are new to forex trading, look no further than all-in-one Ninja Trader. It provides unlimited access to historical and real-time forex data.

You don’t need to set up a brokerage account, making it an ideal platform for beginners. According to Alan Safahi, Ninja Trader is a sophisticated tool for using advanced charts and analyze simulators until they are ready for the live market.

4. MetaTrader 5

According to Alan Safahi Orinda, MetaTrader 5 is an easy-to-use and multifunctional trading tool, allowing beginners and advanced traders to use a wide range of sub-tools, including copy trading, automated trading systems, and technical analysis. Meta Trader is available for Android and iOS users.

One of the best features of MetaTrader 5 is advanced Market Depth, allowing you to get a chart, time, and sales information. You can create a separate account for trades and orders. The tool provides extensive support for all types of trading orders. Safahi recommends this MetaTrader because of its state-of-the-art execution modes.

5. Forex Volatility Calculator

Forex Volatility Calculator offered by Investing.com is an easy-to-use tool that allows you to choose weeks and calculate pair’s volatility. Bear in mind that you will get lower volatility when you choose a longer timeframe compared to increased volatility with shorter timeframes.

It is a straightforward tool for traders, and after displaying the data, you can check the average hourly and daily volatility. The web-based tool also allows you to break down the pair’s volatility by any day of the week.

Final Words

Do you want to streamline your forex trading and increase higher returns on investments (ROIs)? If yes, Alan Safahi Orinda recommends the tools given above. Make sure you explore the tools and get more information to use them properly. Until Next Time!

Originally Posted: https://safahi.com/5-best-forex-trading-tools-for-2021-ee7c3abe647a

Fintech B2B vs. B2C Payments

Fintech B2B

According to Alan Safahi, a Fintech expert and San Francisco-based start-up founder, Fintech B2B and B2C payments play a crucial role in how companies and customers pay, move, store, invest, borrow, save, and protect money.

FinTech stands for financial technology that aims to automate, enhance, and streamline financial services. Alan Safahi Orinda says that Fintech can help companies, businesses, and consumers to restructure and manage their financial operations.

Fintech utilizes machine learning algorithms, data processing tools, and specialized software to integrate, tokenize, and automate payment infrastructures, leading to increased flexibility and reduced risks. Read on!

B2B Fintech

According to Safahi, digital payments’ transaction value increased from $4.1 trillion to $5.2 trillion in the last two years. Undoubtedly, digital payments are a major driving force of the financial sector. The total transaction value will reach $6.7 trillion by 2023, with a compound annual growth rate (CAGR) of 12.8%.

Safahi says Fintech payment solutions have high demands for the B2B companies. The B2B Fintech sector focuses on software-as-a-service (SaaS), empowering retail sellers, insurance companies, banks, and other financial institutions to streamline their payments.

Unlike B2C, B2B Fintech is more common for tech companies and retailers who want to do business online. However, Safahi argues that the financial services industry is one of the most prominent groups to utilize B2B Fintech payments.

B2C Fintech

Alan Safahi Orinda has done substantial research on B2C Fintech, focusing on B2C solutions that focus more on products and services, especially those offered by banks. Safahi says that B2C Fintech payment strategies including different aspects, such as checking and saving accounts, personal loans, retirement savings, credit cards, personal financial management, and online payments.

Besides, B2C Fintech payment solutions integrate all these services into a single platform, such as an entire digital-only bank, leading to more secure and reliable transactions. Bear in mind that B2C Fintech has a diverse audience because these solutions suit everyone’s needs.

According to Safahi, younger people are the major groups that use B2C Fintech payment solutions. These include millennials and the generation-Z that are more familiar with the internet and SMART technologies, making them comfortable with online finances and transactions.

Moreover, recent reports show that B2C Fintech companies also target kids and teenagers to promote financial education and literacy. The purpose is to streamline processes and create customers for the future.

Final Words

Safahi’s extensive research and experience in the Fintech industry gives us valuable insights on financial services and relevant technologies. Safahi recommends companies focus more on Fintech financial literacy, allowing the average person to understand the concepts of B2B and B2C payments and enable them to use more tech.

Remember, Fintech B2B and B2C payment solutions are changing the world in 2021. Although the industry has yet to become mainstream, B2C and B2C Fintech are well-established payment solutions for over 20 years.

The Fintech industry targets to reach over two billion people worldwide without traditional B2B and B2C payments, such as bank accounts. The purpose is to allow businesses and consumers to access financial services without needing banks and institutions.

Originally Posted: https://alansafahi.weebly.com/blog/fintech-b2b-vs-b2c-payments

Top 10 Investment Challenges for Small Businesses

Alan Safahi, an experienced and skilled entrepreneur, has done tremendous research on small businesses, Safahi a startup founder in San Francisco, research shows that there are over 400 million small businesses worldwide. These businesses play a crucial role in streamlining a company’s economy by offering 70% of employment.

However, most small companies fail because they don’t know how to invest in their business. In today’s article, we will highlight the top ten investment challenges for small businesses. Read on!

1.     Lack of Funds

A lack of funds or working capital is a common problem for small businesses, leading to disappointment and failure. Entrepreneurs, especially beginners, often don’t understand cash flow, underestimate funding, and develop unrealistic expectations. Not determining the amount of funding they need to start and stay in business is the biggest challenge faced by small companies.

2.     Inadequate Cash Flow Management

Cash flow management plays a crucial role in small business success. If you fail to manage your cash flow, your business will collapse in the first year. According to Alan Safahi, small companies or entrepreneurs who don’t maintain bookkeeping and perform ineffective accounts payable/receivable monitoring will fail on the market.

3.     Overloaded Information

Most people who want to start a small business involve themselves in performing unnecessary online research, flooding their brains with irrelevant information. As a result, they don’t know where to invest and how to make adequate investments. The sheer amount of complex and contradictory information found online can cause investment failure.

4.     Bad Timing

Although it is a less common challenge, most small businesses develop products or services without analyzing the market. Therefore, their investment strategy becomes less effective. According to Alan Safahi, small businesses lose money before making any because of the financial downfall or less demand for their products. Therefore, it is wise to analyze the market to achieve a better product-market fit, ensuring a solid investment strategy.

5.     Limited Resources

According to Alan Safahi, most small businesses or entrepreneurs start their companies on a shoestring. Alan Safahi Orinda’s research shows that 50% of all small businesses in the U.S start under $5,000. Even if your business is the most frugal, you will need money to stay afloat and productive in the market.

6.     Intense Competition

Alan Safahi says that most new entrepreneurs fail to perform competitors’ analyses. If you underestimate your competition, you will face insurmountable short-term and long-term challenges. Not identifying your competitors and how they are doing on the market will prevent you from understanding their strengths and weaknesses, leading to a failed investment strategy. 

7.     Unknown Risks

Entrepreneurs with limited resources are often unaware of the risks that can hinder their investment strategies. Safahi says unknown risks and lack of preparation lead to early and larger hits on a small business portfolio. Therefore, it is crucial to familiarize yourself with different types of risks. 

8.     Ineffective Business Model

An ineffective business model is directly proportional to a poor investment strategy. According to Alan Safahi, every small business needs a scalable model for its investment strategy, meaning they should align with each other. Your business model must align with your investment model and show the potential to increase revenues with reduced expenditures.

9.     Increased Investment

Alan Safahi Orinda says more investment can cause increased pressure on small businesses to scale up or streamline their company’s operations. Although increased investment is a good strategy for healthy growth, it can also cause harmful effects on your business operations in the future. The primary reason behind this is that you receive more investments, but you fail to expand your business accordingly.

10.      Not Sticking to the Plan

Entrepreneurs who make investments or funds are accountable to their investors. Safahi says they must follow your plan and spend the money transparently. However, it is crucial to avoid going on a spending spree. On the other hand, focus on promoting your products and services.

For instance, if you spend the money on the workspace, furniture, business trips, and equipment, you won’t have enough investment for your product. Remember, your product is the most important thing that you need to focus on to achieve success. Therefore, stick to the plan and follow a consistent approach.

Final Words

Investing in your startup or small business is not an easy task. It requires careful planning, analysis, and preparation. In this post, we have identifies the top ten investment challenges for small businesses. Make sure you follow Alan Safahi’s advice to overcome these problems. Until Next Time!

Originally Posted: https://www.businessmodulehub.com/blog/top-10-investment-challenges-for-small-businesses/

Top 7 Reasons Stock Traders Lose Money

Stock trading requires careful planning and preparation. Otherwise, you will lose money. Most stock traders, especially beginners, feel disappointed when their purchase value decreases. According to Alan Safahi, if you don’t know why the value has dropped, you will make less informed decisions. Thus, it can lead to losing more money. Read on!

1.     Lack of Research Research is one of the most important aspects of stock trading, allowing you to understand the stock market and make informed decisions. However, most people follow advice and recommendations on the internet without doing thorough research. Safahi says lack of research can lead to significant losses. Therefore, it is wise to keep yourself up-to-date by performing thorough research and analyze the stock market.

2.     Lack of Patience Stock traders who want to become wealthy quickly often lack consistency. If you avoid keeping yourself on track and try to emulate people who show off money, lavish traveling, and fancy cars, you will lose money. According to Safahi, avoid getting rich quickly and focus on long-term profitability. Therefore, be patient, do your research, and make informed decisions to stay on track.

3.     No Diversification According to Alan Safahi, it is crucial to diversify your assets to make more money in the stock market. Even if you are a beginner, you need to focus on reading information about diversification. When you create a diversified investment portfolio, you can overcome problems like rough economies or market corrections.

4.     Emotional Decisions Alan Safahi Orinda advises stock traders to keep their emotions out of business. When you make an emotional decision and fail to focus on analyzing the market conditions, you will lose a significant amount of money. Safahi says emotions can harm your decision-making ability, leading to irreversible mistakes.

5.     Over Complicated Investments Although it is wise to diversify your assets and build a multi-dimensional portfolio, owning too many funds and finding random ways to make profits will complicate your investment strategy. Consequently, you will tamper with your portfolio and lose money. Therefore, it is wise to maintain a simple investment portfolio.

6.     Ignoring Fees Investing without knowing the fees that come with purchasing funds or making stock trades can prevent you from having increased ROIs. Sometimes, you pay the fees, buy the stocks, and feel that you have done the right thing. However, it can harm your profitability over time and prohibit you from making money.

7.     No Record Maintenance According to Alan Safahi Orinda, data is one of the most critical elements in stock trading. When you don’t analyze data or information, you will have no control over the market conditions. Therefore, you must focus on record keeping to achieve your goal.

Final Words Stock trading offers a wide range of benefits, allowing you to take advantage of the growing economy. Safahi says an increasing economy is directly proportional to corporate earnings. However, if you make the mistakes given above, you will feel disappointed and lose money. 

Originally Posted:- https://alansafahi.weebly.com/blog/top-7-reasons-stock-traders-lose-money

How do Cross Border Payments Work?

As the name indicates, cross-border payments are transactions between payers and recipients based in separate countries. According to Alan Safahi, an experienced entrepreneur and founder of a San Francisco-based startup company, cross-border payments usually cover retail and wholesale payments, including remittances.

Credit card payments, bank transfers, and alternate payment methods are common ways to make cross-border payments. Thanks to advanced technology, the business world has a global reach, meaning remittances, purchases, and payments require money exchanged across countries. Read on!

Cross-Border Payment Market Overview

According to Alan Safahi Orinda, cross-border payments are a $22 trillion market. Safahi says the market is snowballing, and 80% of these payments are B2B-related, with banks dominated over 95% of the cross-border payment market. However, it is often challenging for banks to maintain their 95% share of the market.

Alan Safahi’s research shows that banks have not made substantial efforts to improve their back-end systems and operations involved in cross-border payments. Consequently, such payments often remain costly for customers. Safahi argues that customers face various pain points, including:

  • Lack of transparency
  • Inadequate tracking methods
  • Slow processing times

On the other hand, non-bank players make substantial efforts to encroach on the conventional cross-border turf of banks, shifting from C2B to B2B cross-border payments. Non-bank players are forcing banks to reconsider their long-standing strategies and methods for cross-border payments.

Types of Cross-Border Payments

Bank transfers, credit cards, and alternative payment models (APMs) are common types of cross-border payments. According to Safahi, consumers or customers choose payment methods that are reliable and convenient for them. Let us talk about these types. Continue reading!

Bank Transfers

International bank transfers are a common channel for making cross-border payments. However, larger banks in the U.S have a limited range of stocked currencies, making it challenging for customers to place cross-border payments.

For instance, when a customer in the U.S wants to transfer money to another country, the bank relies on a foreign banking partner to streamline the transaction process. Likewise, smaller banks usually don’t hold foreign currencies, and they rely on larger banks to make cross-border payments on their behalf.

Credit Cards

Alan Safahi is an experienced entrepreneur who has thorough and up-to-date knowledge of cross-border payments. Safahi says that credit cards play a crucial role in cross-border transactions. Safahi recommends credit cards as a go-to option for consumers.

Cross-border payments via credit cards are relatively straightforward and quick. All you need is to enter your card details and wait for the transaction verification. Because banks make efforts to optimize the currency conversion process, you have to specific fees.

Alternative Payments

There are numerous alternative payment options for cross-border payments. However, the most common one used today is a digital wallet, also known as an e-wallet. It is a software-based electronic alternative payment model that allows consumers to pay for in-store or online transactions.

E-wallets enable customers to store their payment cards safely and make transactions through software and apps. The most popular and common e-wallet payment options are PayPal, Google Pay, Apple Pay, and Ali-Pay.

Final Words

According to Alan Safahi Orinda, the biggest advantage of making a cross-border payment is reliability and convenience, primarily when you use a global payment platform. Safahi recommends banks and private companies implement a solid onboarding process with a sophisticated online portal to make it easy for payees and recipients to place cross-border payments and update their information as necessary.

Originally Posted:-https://timebusinessnews.com/how-do-cross-border-payments-work/

What are Payment Challenges in Gig Economy?

Gig Economy

The gig economy refers to the collection of markets that focus on a gig or job to match providers to consumers. The basic model involves gig workers entering into formal agreements with on-demand commerce or companies to provide products or services to the company’s clients.

Alan Safahi, an experienced entrepreneur and founder of a San-Francisco-based startup company, says that the gig economy will become a mainstay worldwide, especially during the Covid-19 pandemic.

Alan Safahi Orinda has done substantial research on the proliferation of on-demand products and services. The leading entrepreneur says that sharing economy will change the way people live, work, and spend money. Safahi’s research shows that freelancers will make up 50% of the U.S workforce within one decade.

Although freelancing and the gig economy offer various benefits, this type of niche or work involves trade-offs. While people work on-demand and multiple jobs with independence and flexibility, they experience volatility in payments. Read on!

Lack of Access to Payment Methods

According to Alan Safahi, most people who use cross-border payments in the gig economy face numerous challenges. Lack of access to payment methods is the biggest challenge faced by gig economy workers. For instance, funds transfers through global payment processors, Fintechs, remittance companies, and banks do not favor freelancers and gig economy workers.

For instance, PayPal is the most popular platform for gig economy workers in most countries. However, the company does not offer services in over 80 countries worldwide, making it challenging for people to pay and receive funds.

Payment and Transparency Issues

According to Safahi, about 75% of gig-economy workers would stop selling their products and services and leave the industry if the authorities fail to resolve the current payment issues. Gig economy workers and freelancers look for better and advanced communication and business support services, especially when there are problems with payments and delays.

Gig economy workers likewise crave greater transparency and streamlined accuracy with payments. Safahi says that the biggest challenge for such workers is not having a solid platform to monitor their financial transactions. However, the good news is that some banks in the U.S offer a feature like cash-bank and multiple currencies wallet to millennials.

Excessive Delays and Fees

High fees and commissions are some of the biggest challenges faced by gig economy workers when receiving payments. For instance, lack of transparency in charges, slow settlement speed, and fluctuating foreign exchange rates are a massive frustration for freelancers or gig economy workers.

Safahi says that online marketplaces have segmented their payment models into B2C and C2B strategies. The time lag is usually caused by intense banking regulations, automated clearing house (ACH) transfers, and foreign exchange rates.

Final Words

Alan Safahi Orinda argues that pre-Covid-19 and post-Covid-19 regulations remain the same for gig economy workers. Like other businesses, gig workers worldwide have been highly affected by the crisis brought by the pandemic. Safahi suggests banks, private companies, and payment processing platforms review their strategies and streamline payment processes for gig workers and freelancers.

Originally Posted: https://safahi.com/what-are-payment-challenges-in-the-gig-economy-ad9beabd3dbf

Why is FX Liquidity Important in Forex Trading?

The foreign exchange market is the backbone of global trade and international investments. According to Alan Safahi, an experienced entrepreneur and a leading startup founder in San Francisco, individuals and businesses must understand the significance of FX liquidity for three reasons:

· The average trading volume daily is $5.4 trillion, making foreign exchange the world’s second-largest market.

· Forex trading plays a substantial role in guaranteeing efficiency and no-arbitraging conditions in stocks, bonds, and derivatives.

· Forex trading has an over-the-counter (OTC) nature characterized by market heterogeneity, and fragmentation, causing unprecedented liquidity patterns.

Importance of Liquidity to Forex Traders

According to Alan Safahi Orinda, the forex market is a decentralized international market and has no physical location because currencies’ selling and buying occurs electronically, mainly between banks. However, other participants, such as pension funds, hedge funds, investments, insurance companies, and corporations, also play crucial roles in forex trading.

Safahi says that most forex traders do not understand the concept of FX liquidity. It is crucial to comprehend this concept to streamline your trading operations. The successful entrepreneur and an expert in forex trading “Alan Safahi” says that liquidity refers to the current demand for a product or service.

In financial markets, liquidity refers to the quick conversion of a specific device into cash, physically or electronically. For instance, short-term U.S bonds and gold are a few instruments with higher liquidity rates. Traders buy and sell these instruments throughout the world rapidly after reaching an agreement at a reasonable price.

Volume Option

According to Safahi, brokers often offer a volume option, allowing the trader to measure the liquidity amount on the market. The volume option is determined by analyzing different bars on the volume charter. Bear in mind that each volume bar represents the traded amount, giving traders the volume liquidity’s approximate values.

High and Low Liquidity

Alan Safahi recommends focusing on high liquidity in the forex market. It refers to a currency pair that you can buy and sell in significant sizes without significant variances in the exchange rates or price levels. According to Safahi, traders must focus on major currency pairs, such as:

· EUR and USD

· USD and GBP

· AUD and USD

· USD and CHF

· USD and NZD

· EUR and GBP

· JPY and USD

On the other hand, low liquidity in the foreign exchange market refers to a currency pair that you can’t purchase or sell in significant sizes. Alan Safahi gives an example of exotic currency pair, the PLN, and JPY.

Look for Signs

Alan Safahi recommends looking for various signs to determine the market liquidity. The first one is figuring out gaps when trading forex because they vary compared to other markets. Bear in mind that price gaps occur in the foreign exchange market if high-impact news or interest rate announcements are against expectations.

Another thing you need to consider is the volume option offered by brokers on the chart. Using the chart, you can measure the market liquidity and interpret the FX liquidity by analyzing different bars on the volume chart.

Moreover, if you are a short-term trader or scalper, make sure you are well-aware of varying liquidity through the trading day. Bear in mind that the US session and London session are major moving market sessions highly prone to large percentiles moves and breakouts on the day.

Final Words

Liquidity is a foreign exchange market that refers to how fast traders can convert their investments into cash. Safahi recommends understating the concept of liquidity and learning ways to measure and analyze FX liquidity to get the most out of your trading.

Originally Posted: https://safahi.com/why-is-fx-liquidity-important-in-forex-trading-bd4723a89232

Guide to Freelance Payment Methods

Alan Safahi, a leading San Francisco-based entrepreneur and startup founder, has made substantial research on freelance payment methods. According to Alan Safahi Orinda, freelancers represent over 35% of the workforce worldwide, and there are over 1.1 billion freelancers of the total 3.5 billion people in the global workforce.

Safahi’s research and analysis show that freelancers contribute more than $1 trillion to the U.S economy and about 5-7% of the total gross-domestic-product (GDP). About 48% of freelancers charge a fixed rate when selling their products or services, while 29% follow an hourly approach, and 23% experience use both methods.

There are numerous ways to receive money, and each method has its own advantages and disadvantages. Freelancers don’t always choose because most companies hire people with their preferred funds’ transfer methods implemented. However, many companies ask freelancers about their preferred payment methods. Therefore, it is crucial to choose wisely to maintain your cash flow. Read on!

Checks

Although many freelancers have forgotten the old-fashioned paper checks in this digital age, some companies hire freelancers to pay by check routinely. According to Alan Safahi, some freelancers prefer checks to other payment methods.

The biggest advantage of checks is that it doesn’t cost you money to receive them. However, the downside of checks is that you will have to wait a few days for your check to arrive if you have a local client.

Direct Deposit

Some freelancers prefer receiving payments by direct deposit method. A direct transfer occurs between the client and the freelancer’s bank. Alan Safahi says if a client offers this option, you should take it because it is brainless on your end.

For instance, you offer your products or service, get the job done, and the money appears in your bank account. However, the only downside with direct deposit is that your client has to initiate the process through his own bank.

PayPal

PayPal is the gold standard for many entrepreneurs to accept payments. It is one of the most popular payment processing platforms, allowing freelancers to accept different debit and credit cards online. Likewise, your clients can pay you from their bank accounts directly.

According to Alan Safahi Orinda, PayPal is an easy and effective method for freelancers and their clients. Because the platform is widely recognized and used, clients usually don’t balk at using it. Similarly, it enables you to receive payment instantly.

The downside of PayPal is that it charges a 2.9% transaction fee and $.30 per sale. Although this is a small free, it adds up to substantial amounts over time. For example, if you earn $3,000 per month and receive payments through PayPal, you will pay around $900 over a year.  

Merchant Accounts

A merchant account is a unique bank account that enables a freelancer to accept money from their clients’ debit or credit cards directly. Most clients find it convenient to pay funds from credit cards because merchant accounts have lower transaction fees than payment platforms like PayPal and Payoneer.

Merchant accounts likewise enable freelancers to set up recurring payments and offer business support. The downside of a merchant account is that it will charge a portion of each transaction.

Final Words

There are numerous ways to pocket your profits from selling your services and skills through freelance platforms. However, there is no single perfect product or solution for you, meaning you need to choose the one that best fits your needs.

Originally Posted: https://alansafahi.com/guide-freelance-payment-methods/

How Manage Foreign Exchange Risk

Foreign Exchange Risk

During the Covid-19 pandemic, the foreign exchange market has seen dramatic fluctuations, including changes in currency rates. The global economy has almost ceased due to strict regulations regarding lockdowns and contain the outbreak. The pandemic has affected the stock market and oil prices, putting brakes on the global economy.

According to Alan Safahi, a San Francisco-based startup founder and entrepreneur, the forex market seeks safe-havens, and traders move toward the U.S. Dollar, Swiss Franc, and Japanese Yen. Safahi’s research and analysis show that commodity and smaller currencies have also suffered during the pandemic.

These currencies include the New Zealand Dollar, Australian Dollar, Swedish Krona, and Norwegian krone. In today’s article, we will guide you on how to manage foreign exchange risk. Make sure you read this guide thoroughly to get the most out of it. Read on!

Do Some Background Research

Alan Safahi of Orinda suggests traders do some background research on currency volatility to source the right supplier or search for overseas property. Because foreign exchange is a complex market, it is crucial to consult a specialist or expert who can guide you on the risk mitigation strategies and explain how to stay stable in the market.

Invoice and Contract in U.S Dollars

Individuals and businesses use different protection strategies against fluctuations in exchange rates. Invoicing and contracting in U.S dollars is the easiest strategy to keep your expenses, revenues, and profits in the same currency.

Traders who are active in their home currencies will have no transaction and translation risk because these risks are passed to their overseas business partners. However, some overseas business partners may charge you for them to take over the risks.

Use a Foreign Currency Bank Account

According to Safahi, Founder at Zed Network, a payment orchestration platform focused on cross border payments and FX, “matching” is another effective option to mitigate or manage risks in foreign exchange. For instance, you need to open a foreign currency account and match your sales receipts from foreign customers with payments due to foreign suppliers with the same currency.

Make sure you deposit the receipt in the bank account and then use your balance to pay the supplier. It is an effective strategy because it reduces your currency exposure to your balance left in the account, especially after meeting the foreign-currency liabilities.

Use Hedging Methods

Safahi, a global entrepreneur with thorough knowledge of hedging methods for foreign exchange risk management, suggests that, if several months are likely to pass between your contract signing and payment in a foreign currency, it is better to hedge it through a forward exchange contract.

Bear in mind that such contracts are typically the “purchase now and pay later” deal, allowing you to lock in exchange rates at a determined date in the future. According to Alan Safahi of Orinda, the set date is usually anywhere between 6-24 months.

A forward contract is an excellent way to manage foreign exchange risk because one party buys and another sells currency on a set date in the future at a predetermined exchange rate. You can make contracts with a bank or currency provider through Zed to minimize risks.

Final Words

Foreign exchange risks involve fluctuations in currency exchange rates, affecting a company’s financial performance. Remember, these changes in currency exchange rates can significantly damage your business profits by consuming into margins. If you want to manage foreign exchange risks, follow the tips and tricks given above. These guidelines are based on Alan Safahi’s years of experience and up-to-date knowledge of the market.

Originally Posted: https://vocal.media/trader/how-to-manage-foreign-exchange-risk-an-essential-guide

How Does Foreign Exchange Trading Work?

According to Alan Safahi, a leading San Francisco startup founder, advisor, and entrepreneur, foreign exchange trading, also known as forex trading, is a global marketplace that focuses on exchanging currencies against one another and involves the relative value of one specific currency over another.

Research conducted by Alan Safahi of Orinda, CA highlights that forex markets are the largest and most liquid asset markets worldwide due to streamlined trading, commerce, and finance. The foreign exchange market has a colossal amount of liquidity, enabling people to actively trade trillions of dollars every trading day. In today’s article, we will discuss how foreign exchange or forex trading works? Read on!

Currency Value Measurement

A currency value is analyzed and measured through the amount of another currency it can purchase. The process is known as the price quote, which contains two prices: a bid and ask. People use the “ask price” when buying a currency. Likewise, traders use the bid price when selling currencies.

Bear in mind that a financial instrument’s ask price is usually higher than the bid price, meaning a bank purchases your currency at slightly lower prices. In contrast, the bank will sell it at a higher rate. Safahi advises traders to learn the basic and advanced concepts of a bid and ask price to measure currency value.

Liquidity Analysis

According to Safahi, liquidity refers to the activity levels of the market. Traders determine liquidity by analyzing the number of traders who are actively trading and measuring their total volume.

Because forex trading occurs 24/7, it is the most liquid market in the world. More liquidity means tighter spread, which favors everyone. Because trading is ongoing, traders can conduct it smoothly with plentiful liquidity. However, Safahi advises traders to keep an eye on price gaps to evaluate significant price shifts over the shortest periods.

Placing a Buy Order

Traders must focus on forex mechanics. You can trade at the click of a mouse on any trading platform. For instance, you will place a buy order on the USD/EUR currency pair and use a portion of funds from your account to buy the pair’s base currency. For example, you will buy the USD and sell the pair’s quoted currency, the EUR.

You will place the order with the broker, market maker or communicate with the Forex Interbank Market directly. Remember, the interbank market has big players. Safahi states that you can place orders to sell currencies that you don’t own.

Close the Order

Depending on your trading strategies, you will wait until your purchased currency has increased value relative to the sold one. When you are satisfied with the accumulated profit, you will close the order.

Likewise, the broker will perform the opposite transactions – selling dollars and purchasing euros. Bear in mind that you can also place a sell order to reverse the process. Understanding these concepts is essential for beginners to streamline their trading.

Final Words

It is often confusing for beginners to understand the concepts of buying and selling in foreign exchange markets because, in every trade, traders exchange one currency for another. It means there is always a “buy” and “sell” in every trading process.

Originally Posted: https://alansafahi.com/how-does-foreign-exchange-trading-work/

Businesses Benefit from Currency Exchange

Currency Exchange

Small-medium businesses play a crucial role in a country’s overall gross-domestic-product (GDP). According to Alan Safahi, a business advisor, entrepreneur, and San Francisco Startup Founder, small-medium enterprises contribute to 50% of the U.S GDP.

However, Safahi says that companies often find it challenging to manage cash flow, especially when they do business overseas with significant currency fluctuations, leading to uncertainty and risky profit margins.

Alan Safahi of Orinda advises businesses to use the right combination of cash management payment strategies to improve their cash flow and protect profits. For instance, Safahi recommends having foreign currency accounts because they are ideal solutions for companies that have several transactions in specific currencies.

Besides, having cash ready in a particular currency can help businesses make informed decisions, react quickly, and reduce risks. Foreign currency accounts also lessen the need for multiple currency transfers. In today’s article, we will give you five currency exchange strategies to benefit your business. Read on!

1. Use Spot Payments

Spot payment is an excellent strategy for businesses, allowing them to buy or sell currency at the current rate. Safahi recommends spot rates for smaller and less regular payments. You can also use it for rapid currency exchange. Make sure you look for providers that offer competitive spreads and low fees between buying and selling rates.

2. Hedge with a Forward Contract

It is an effective strategy that allows you to buy a set amount of currency for settlement at a predetermined exchange rate and a determined value date in the future. A forward contract is suitable for businesses, especially when they want to protect against fluctuations. It is also helpful for budgeting and money management. For instance, when you fix prices in advance, you can budget and plan easily while knowing their costs.

3. Leverage from Online Transfers

Online transfers provide effective and easier cash management, allowing you to increase payment visibility. Using online transfers enables you to set cost-effective invoices with overseas vendors. For example, Zed Network , a payment orchestration platform focused on cross border payments and foreign exchange (FX), offers an online FX platform, allowing business owners to manage global payments online effectively and easily at any time with the lowest costs and the most competitive FX rates.

4. Use a Budgeting Tool

Safahi recommends selecting the right budgeting tool that streamlines the currency exchange process and gives you more visibility over exposures. Use a budgeting tool that calculates currency exposures for different invoices automatically.

For instance, you can go to a single platform and evaluate your cross-border cash flows, especially incoming and outgoing cash flows in your home currency. That way, you can make informed decisions and mitigate risks.

5. Settle Invoices in Local Currency

It is crucial to settle invoices with your overseas vendors in the local currency. According to Alan Safahi, one in five suppliers from China adds 3–4% to U.S dollar invoices. The purpose is to cover fluctuations in foreign exchange. When you deal with vendors in their local currency, you can negotiate with them and get a discount.

Final Words

If you want to streamline your currency exchange operations, make sure you implement a solid plan. Don’t worry about where the rates of exchange go because after you determine the rate, it is still suitable for you even if the rate moves down the line. The five tips given above will help you optimize your currency exchange processes and reduce risks.

Originally Posted: https://safahi.com/5-ways-businesses-can-benefit-from-currency-exchange-b3c94b8cb175

Tips for Currency Exchange Investment

Currency Exchange Investment

Alan Safahi, the San Francisco-based startup company Founder and currency exchange expert, says that currency trading could be a stable and profitable way to improve your investment portfolio as long as you do your homework and hedge against volatility.

If you don’t have a thorough knowledge of global politics, macroeconomic, and geo-economics, however,  it is better for you to avoid doing currency exchange investing, according to Safahi who manages Safahi Global Advisors.

If you want to start a currency exchange business and earn profits, make sure you learn ways to create an investment strategy. Here are five beginner tips for a currency exchange investment.

1. Focus on Basics of Currency Investment

People trade different currencies on the forex market every day. The forex market operates between traders who are represented by brokers. Although currency exchange investment through forex is the best way, you can also do this by purchasing ETFs and investing in corporations.

Bear in mind that people trade currencies in “currency pairs.” The pair includes a “base currency” and a “counter currency.” The counter currency helps determine the base currency value. These currencies can appreciate or depreciate separately or together, meaning you have to monitor them closely.

2. Hire an Exchange Broker

According to Alan Safahi of Orinda, CA, beginners should hire an exchange broker or service to get started in the forex market. Professional service or broker has all the necessary knowledge and experience in forex trading.

A broker keeps an eye on the market and knows how to streamline the operations for profit. Many beginner investors find it challenging to trade currencies, but they can hire or use an authorized broker to safeguard their investment capitals.

3. Invest in Stable Currencies

The U.S Dollar, the Swiss Franc, the Swedish Krona, the Japanese Yen, and the British Pound Sterling are some of the most popular currencies for beginners to make investments. Safahi says that these are stable currencies with lower fluctuation risks, meaning beginners can earn good profits by investing in these stable currencies.

Moreover, as a beginner, you can also invest in the Singapore Dollar, the Australian Dollar, and the Norwegian Krone. Although these are stable currencies, the forex market is unpredictable, meaning anything can happen at any time.

Therefore, Safahi recommends looking at the market conditions of the time before making investments. A currency that is stable today can experience drastic changes within a matter of seconds. So, you have to be very careful and consult experts to keep things optimized.

4. Consider Various Market Factors

Before making a currency exchange investment, Safahi says it is wise to consider a few factors, evaluate them, and make an informed decision based on the results. Some of the critical factors you should consider are:

  • A strong GDP
  • Low Inflation
  • Low unemployment rate
    • High economic activities

These are key indicators that show the currency is stable enough, and making investments in it will help you earn profits.

5. Discover Opportunities

Although the forex market is full of opportunities, Alan Safahi, an entrepreneur, says that beginners should focus on discovering undeveloped and underdeveloped aspects of a nation’s economy. Alan Safahi advises that economic innovations, oil-&-gas discoveries, small business investments, and infrastructure development are indicators of a growing currency value.

Moreover, you must examine currencies that have gained value for the last couple of years. Once you have identified and analyzed these currencies, determine factors or aspects that led to the momentum or growth of the currency. Unlike other traders, if you focus on these underdeveloped aspects of a country’s economy, you can find excellent opportunities and make profits.

Final Words

According to Alan Safahi, a professional currency trader has an in-depth knowledge of countries, geopolitics, geo-economics, and socioeconomics. Beginners should explore the concepts of nationalization, sovereign defaults, corruption, GDP levels, employment rates, inflation levels, and governmental instability. Changes in these factors are directly proportional to fluctuation in currency stocks.

Originally Posted: https://www.allperfectstories.com/currency-exchange-investment

Trading Strategies during Covid-19

Although there are many trading strategies, not all of them are helpful during the Covid-19 pandemic. Alan Safahi, a leading entrepreneur, advisor, and San Francisco-based startup founder, says that businesses or individuals must choose a strategy that suits their personality type, risk tolerance, and available time. In this post, we will talk about five effective trading strategies during Covid-19. Read on!

1. Scalping:

Scalping is an effective short-term trading strategy for individuals and businesses. According to Alan Safahi of Orinda, CA it involves taking multiple profits of smaller sizes on trading positions within a short period.

Scalpers typically enter and exit training within a matter of seconds or minutes, meaning they need quick reaction times. If you choose this strategy, make sure you monitor price charges to predict future exchange rates and their movements.

2. Day Trading:

Day trading is an effective strategy for traders during the Covid-19 pandemic. It is a short-term strategy followed by traders during a specific trading session. According to Safahi, day traders usually avoid taking overnight positions, meaning they close out their traders each day. The purpose is to decrease exposure to the trading market movements.

Moreover, you must use trading plans based on short-term charts and their technical analysis to know the intraday price action. Focus on the breakout trading because Safahi’s research shows that it is the most popular one during Covid-19.

3. Momentum Trading:

Momentum trading, also known as swing trading, enables you to plan a medium-term strategy to identify, examine, and evaluate more market moves. If you want successful momentum trading, make sure you trade both with major trends and against them, especially when the market is correcting. Thus, you will hold overnight positions.

The relative strength index (RSI), moving average convergence divergence (MACD), and histogram are commonly used indicators in momentum trading. Moreover, you should start with at least $10,000. You may end up risking each trade if you fall below $10,000.

4. Trend Trading:

Unlike other trading strategies, trend trading is a long-term strategy used in the forex market. It involves focusing on the market’s directional movement or prevailing trends for a particular currency pair. Safahi recommends traders to purchase on pullbacks in up trends and sell on rallies on downtrends.

Once you have taken a position in the trend direction, hold onto it until the trend starts reversing or the market reaches its objective. During Covid-19, Safahi suggests traders focus on more technical analysis indicators, such as the average directional movement indicator (ADX). However, you can also focus on moving averages to smooth out the price action. That way, you can identify trends and watch for crossovers in the market.

5. News Trading:

You can use news trading strategies if you have enough budget and a solid plan for risk management. Bear in mind that news trading strategies are not suitable for beginners during the Covid-19 pandemic.

News trading strategies are usually based on fundamental and technical analysis and benefit from volatility seen in the market quickly after news releases. Alan Safahi recommends monitoring economic calendars for data releases and watching the forex market closely to identify support and resistance levels before the event.

The purpose is to analyze the results and react quickly after the event. Furthermore, you have to maintain discipline during currency positions management to streamline your strategy and take profits orders in the forex market.

Final Words

The Covid-19 pandemic has hit hard the entire world in terms of health, business, and economy. The unpredictable lockdowns, surging cases, and disrupted supply chains have significantly affected the business world, including trading markets. However, the five strategies given above can help you thrive in the Covid-19 era trading if you use them correctly. Until Next Time!

Originally Posted: https://vocal.media/trader/5-effective-trading-strategies-during-covid-19

What investors look for Pitch Deck?

investors

“Simply put, what investors are looking for in a pitch deck is a great presentation that clearly outlines a pain the point that exists today and demonstrates the Founder(s)’ unique position to solve this pain point at this point in time” says Alan Safahi, San Francisco entrepreneur and 6X startup founder and Principal at Safahi Global Advisors.

According to this definition, a presentation can become the most important document for your company. It is through this presentation that you will be able to captivate your audience and collect the financing you require to carry out your project.

In this article, we will be sharing some essential tips for you to prepare a winning presentation, which answers all the concerns of investors.

The tonality of your presentation

Before starting to prepare your presentation, you must define what tone you want to use in it. This will depend on what you want to convey to investors.

Add creativity to the presentation, and prevent it from being boring or unattractive. The best combination you can use is your creativity with high-quality content.

A high-level summary

Include a high-level summary. Two slides should be enough to start your presentation, highlighting the essence of your business.

You must include all the aspects that you want to make known to potential investors.

Explain the problem that your product will solve

In these slides you must capture the opportunity that your business represents, highlighting what are the needs or problems that it will cover.

You must make it clear what is the lack of the market that your product will be able to satisfy.

For this, you can use two to four slides, depending on the complexity of your project and the level of demand of your audience.

Describe your product in detail

According to Safahi, it is vitally important that you include a detailed explanation of your product in your launch presentation.

You must delve into what differentiates your product, why it is better than the competition that may exist, and how it will guarantee market satisfaction. Make sure you cover everything about your product including the proposed product/market fit and the answer to the question “Why Now?”.

Present your Marketing strategy

Once you have the audience captivated with your product proposal, you must present an effective marketing strategy.

This strategy will depend on the phase in which your business is, but you must demonstrate to your potential investors that you have objectively devised a plan to earn a space in the market.

Describe your team

One aspect that investors take into account is the team you have assembled to get the job done. Remember that they would be investing not just in your idea, but also in your effort and of course in your team.

Use some slides to introduce your team and show that it is made up of people committed to the company. You should also take the opportunity to highlight their strengths and the past relationships with you and each other Founders and team members so show a history of a team that has successfully worked together and gets along with each other.

Well-formulated financial projections

According to the criteria of the San Francisco advisor and 6X startup founder Safahi, this point is highly anticipated by investors.

You must clearly describe what the projections are for both income and costs of your company. Make sure to clarify how you will use the money you will raise.

These projections must be professionally and realistically calculated. Clear and objective information at this point is highly appreciated by investors.

Originally Posted: https://www.allperfectstories.com/investors-look-pitch-deck/

Do’s and Don’ts of Raising Capital

According to San Francisco entrepreneur and startup advisor Alan Safahi, the process of raising capital for your startup can be somewhat intimidating. Especially if it’s your first time doing it. However, to achieve what you want you must learn, strive and fight until you accomplish your goals.

To give you a little help in the phase of getting investors for your company, we will share some tips. On the one hand, we will be detailing the things you must do; and on the other hand, we will be telling you what you should avoid at all costs when searching for investors.

What you must do to raise capital

San Francisco advisor and Alan Safahi, who is a 6X startup founder with vast experience in fundraising in Silicon Valley, Los Angeles and Toronto, shares his experience indicating what you should do:

You must prepare properly

Raising funds for your business requires primarily mental preparation. It is very important that you be realistic and set expectations within what is objectively possible.

You must also be prepared for rejection, and to take this as a learning opportunity rather than defeat. The right investors for sure will see the potential of your venture, so don’t despair.

Focus on generating traction

Something that attracts investors is the popularity that you have gained in the market with your product or service prototype. So it’s a good idea to focus part of your effort on building a potential customer base from the start.

This can show investors the potential your company has, and all that you can achieve with the appropriate capital.

Lean on good advisors

Having the support and guidance of a good advisor is of great advantage for you. Look for professionals who believe in your endeavor, and stay in touch with them whenever possible.

Great advisors can provide you with unrivaled business guidance, and invaluable guidance on how to approach investors.

Define a good profile on financing platforms

When registering your profile in the different financing platforms, you must define your profile completely and perfectly.

Remember that investors will not only see your business proposal, they will also see who they will partner with.

Make sure to record all your experience, you should even record other ventures that have not been successful. All experience is valid.

What to avoid while raising capital

Alan Safahi, Founder and Principle at Safahi Global Advisors, details the things to avoid during the capital raising process.

Don’t raise more money than you really need

You may want to take the opportunity to raise a little more money, as financial insurance. But you should never abuse this.

You can get a little more capital to fix the situation, in case something doesn’t go according to plan, but you shouldn’t go overboard in this regard. Ultimately, your success depends on what you do with the money you have, and not how much money you have.

Don’t Talk to the wrong investors for your project

Don’t waste your time with investors who are not used to investing in projects like yours, or in companies that are in the phase you are in.

If they do not know the area, you will have to spend a lot of time explaining the details. That time you can invest in something more beneficial for you.

Don’t Meet with investors who have invested in the competition

Another thing you should avoid is talking about or presenting your project to investors who have invested in a company similar to yours. It doesn’t make any sense for you to talk to the people who have funded your competition.

You must avoid any type of conflict of interest.

Don’t stop studying investors before meeting with them

Before meeting with any investor, you should have studied them. You should know if this is the type of investor who is interested in companies like yours, and if he or she has experience in your area of development.

If possible, talk to other entrepreneurs who have received capital from these investors to find out what it is like to work with them.

Originally Posted: https://vocal.media/journal/do-s-and-don-ts-of-raising-capital

Why Successful Entrepreneurs Invest in Employees

Employees are the lifeblood of any successful company or organization regardless of size. So whether you are running a multibillion-dollar company or are a tech start-up, your performance comes down to the people employed by your company and whether they are fully aligned with your company’s ethos and vision for the future.

Alan Safahi is a successful entrepreneur and start-up founder based in San Francisco. And with over 30 years’ experience in business development in the tech industry, he believes that investing in employees is crucially important at all steps of your company’s development.

This investment begins at the hiring stage.

Hiring new employees

Hiring the right candidates is an important step that needs to be carried out very carefully. However many new start ups fail to gather the right people because they stick too rigidly to a tick box criteria such as academic and social background and are in a rush to get started.

By contrast a successful company, such as Google, has a more open policy that will favor talented candidates who demonstrate they have the right qualities rather than the right background. If a candidate already displays a willingness to develop and learn, this growth mindset can be developed to benefit your company.

Scouting and hiring the right employees takes time but is a crucial factor in the development of your company.

To ensure that your recruitment program is on the right track, calling in the services of start up expert and entrepreneur Alan Safahi will help establish a sound foundation for your company’s growth and development.

Investing in staff training is crucial

Investing time and money in training is paramount. Too many start ups run into problems because they fail to provide adequate onboarding for new candidates. But you can’t expect new employees to perform like fully integrated team members unless you invest time and training in their development.

By contrast a successful company will invest time and training in an onboarding and mentoring process so that new employees can quickly become fully integrated members of your team and are fully aligned with your company’s culture. This may require more time than you would like, but it will pay off in the long run.

Staff training and career development should be offered to employees throughout their careers so that as your company grows your employees can grow and develop equally.

Investing in employees is as important for start up companies as it is for multi nationals

If you are a startup company with a vision for the future, it is crucial to invest in obtaining the best and most talented employees for your team from the get-go.

Your company’s reputation is formed by the service you provide and in a highly competitive market, even small issues can make the difference between success and failure.

For example, if you get too many online reviews or negative social media posts complaining about your company’s performance it reflects badly on your whole company. This reputation can be hard to shake off yet can be caused by just one badly trained individual in your customer service department.

Alan Safahi is the founder of Safahi Global Advisors; an online reputation management company that will help you maintain a good reputation online and will prevent a bad review from ruining the credibility of your company.

In the early days of any company, teething troubles can lead to mistakes but a negative impression online can ruin your future chances of success. All this could have been so easily avoided with more investment in your employees.

Investing in your employees improves performance and reduces costs

When you invest in your employees it not only improves company morale it reduces costs.

Offering benefits such as health care cover, gym membership, subsidized meals or free breakfasts are a few ways of helping your employees feel valued. Offering added incentives such as performance-driven bonuses and awards and investing in ongoing staff training helps employees see that they have a long-term future with your company.

Staff turnover is a major expense. According to statistics, it can cost as much as six months salary to fully train a new staff member so even if investing in your employees seems initially expensive it is the only way to guarantee the success and the future growth of your company.

Originally Posted: https://www.allperfectstories.com/successful-entrepreneurs-invest-employees/

7 Tips for an Investment Pitch That Gets Funded

investment

If you have an excellent startup idea and require financing, you must prepare properly to obtain your first investor. Once you have the financial support of an investor, getting others will be much easier.

In this article, San Francisco EntrepreneurAlan Safahi, Principle at Safahi Global Advisor shares with you a little of his experience as a 6X startup founder and entrepreneur, detailing 7 tips for an investment launch that will be better positioned to get financed.

1. Select the right audience

One of the key aspects is to know very well the audience to whom you must address. The type of investors you should target will be determined by the phase your business is in, and by the amount of money you want to raise.

Make sure you know your audience, and design a presentation accordingly. Use your own language for them and detail each aspect of interest about your venture.

2. Tell a success story

You must have total confidence about the success of your business, and transmit it to your potential investors. Tell your audience what are the reasons why your venture will be a success, and how you will achieve that.

Focus your story on the future, on the profits your company will bring, and how the investment round will drive the valuation of your business.

3. Pass on your passion

The passion you feel for your new project is the same that you should make the group of potential investors feel.

Let them know in detail all the potential that your company has, how it will change the world, how you will do things in an original way, and what is your secret recipe.

Explain to them how their investment will allow you to revolutionize the market, and how it will help you take your company to the top of success.

4. Keep it simple and understandable

According to Safahi’s experience as an advisor, a good technique to transmit information is to do it in the simplest way possible.

Regardless of the level of mastery or knowledge of your investors, you should present the information about your startup in the simplest possible way. Design your content in such a way that any primary school child can understand it.

Avoid using extremely technical language. Design your presentation to explain the essence of your company in a matter of seconds. This is the most effective way to do it.

5. Describe the sales you have obtained

If your startup is already making a profit from sales, you should mention this point to investors.

One of the techniques that, like Alan Safahi, has used in the business world, is to present sales on a timeline. That is, indicate the amount of dollars you obtained from sales in a certain period of time. This gives investors a clear view of what you have accomplished.

Another important aspect is that you are prepared to explain how you can continue to sell and increase your profits. This is extremely important to potential investors.

6. Design a plan with well-defined deadlines

You must design a schedule indicating a well-defined and not very long term, to raise the money you require.

This period can be of great advantage to you in several aspects. On the one hand, having a deadline can encourage investors to seal a deal with you. It can also help you facilitate the contract process by reaching an agreement with multiple investors.

Remember to clarify to potential investors that you have a maximum term to reach an agreement.

7. Create and explain an exit and profit strategy for investors

Even if you are not thinking of leaving your business, investors have another point of view. It is very important for them to know what will happen in the event that their business relationship with your company ends.

You must explain precisely and concretely how they will recover their investment. How they will get their reward multiplied or compounded. Let them know that your goal is to achieve your success and theirs.

These tips have always been very effective in everything related to the startups that Alan Safahi and his partners at Safahi Global Advisors have advised in the past which should work just as well for any startup.

Originally Posted: https://vocal.media/journal/7-tips-for-an-investment-pitch-that-gets-funded

3 Megatrends You Can’t Ignore In the New Digital Economy

It will be imperceptive of any human on the face of the earth to disregard the shift the world is making into the digital world. The chance of excelling as an entrepreneur now requires a firsthand knowledge of the nooks and cranny of the digital economy. Here’s the sweet plot twist. Alan Safahi presents you with an article focusing on the megatrends entrepreneurs are oblivious of as opposed to teaching consumer behavior and basic economics every entrepreneur should know as of this moment. 

    #NO-CODE

The first trend you need to jump on is the “no-code revolution”. From time immemorial, a lot of business ideas from innovative entrepreneurs were harvested before they even got a chance to be planted. This was majorly because these businessmen needed some sort of technical expertise and magnanimous investments to run the software creation for the brilliant ideas they nurtured. In cases where these investments were not forthcoming, well, let’s just say there was no implementation. 

But, not anymore! #No-code means tools like Airtable and Bubble can help remove the hurdles that come with coding. Better put, a novice without any technical know-how of programming can build an application or website to support their business.       

    #BOTS

We can’t talk digital without talking bots. More often than not, the secret behind the success of massive digital companies is the incorporation of bots in their systems. It is heart wrenching to say that this doubles as the reason why it seems impossible for retailers to catch up with such companies. 

Take China for instance, the WeChat app and the commercial dealings that transpire on a daily basis is estimated to a billion. This statistics has only become a possibility because of the implementation of #Bots. 

The question shouldn’t be what bots can do but what can’t they do. Even without human interaction, they can keep the consumers going by generating leads, collecting sales, solving problems and even creating games and adventure. 

#VOICEAPPS

This is one trend I feel should be super easy to jump on. The truth is recording success in an online world and rising above other competitors will require creating your own advantages. What better advantage than using laziness as a tool? Online listening in the United State has risen to a stage where over 100 million people tune in to podcasts monthly. 

100 million! A hundred million people taking out time to listen to podcasts. Imagine the audience-reach if you decide to hop on this trend as an entrepreneur. The good news is the best is yet to come. The trend is #voiceapps and not #podcasts because the future as it stands promises a refreshing wave of new voice apps and even larger audience reaches.  

Alan Safahi believes that the rise into the digital world will not stop. The surest bet for you as an entrepreneur is to rise with it into this beautiful horizon of digital economy. It is not too late to get yourself acquainted with these megatrends. The future is now!

How Invest With A Small Budget

Invest

A very widespread myth about investing is that you need a massive sum of money just to get started, when in reality the process of building a solid portfolio/investment account can, and often does, begin with just a few thousand — or even a few hundred — dollars.

In this guide below we offer specific advice, from both our research partners and from industry tech titans like Alan Safahi, all with the aim of helping you get started and dive into the world of investing.

Starting Strategies

Regardless of whether you plan to invest a small or hefty amount, in safe bets or high-risk trades, these tips will help you get your plans off to a great start.

Automate Your Savings

If you’re able to reliably and consistently set aside funds every month into your investment accounts, you will reap large rewards over time. If you’re unable to do this, due to a lack of organization or willpower etc, but still want to reap these benefits, then set up automated systems that manage this for you.

There are apps on the app store that make it relatively straight-forward and painless to automatically set aside money for investments. Acors, Chime, Qapital, are some apps that all round up transactions from your debit/credit card and sends the difference towards your investments.

Other options are to check with your bank about its own apps and other ways you can automatically transfer funds from your spendings accounts towards your investments accounts and/or portfolio.

Pay down your debts

Before you start investing, evaluate what it costs you to hold onto debts that you already have, and begin to calculate how easily you can pay them off. High-interest credit cards have rates of 20% or more, after all, and some student loans have interest rates of over 10% . Those rates outweigh the average annual earnings of 7% or so that over time the U.S. stock market has returned over time.

If you have a lot of high-interest debt, it’s smarter to pay off at least a portion of it before you begin to invest. While you can’t predict the exact return on most of your investments, you can be certain that retiring debt with a 20% interest rate one year early is as good as earning a 20% return on your money.

Make sure you contribute the maximum amount of money to your 401(k) as well.

Consider Your Retirement

A key objective of saving and investing, even at an early age, should be to help ensure that after you stop working, you have enough money to support yourself. Your main objective when you prepare to plan for retirement should be to take full advantage of the government and employer benefits that they offer to facilitate retirement protection. Don’t overlook it if your business offers a 401(k) retirement plan. Alan Safahi, a Fintech CEO and industry titan, recommends that nearly everyone tap into their retirement plan benefits, and start paying into it as soon as possible. “Living in Orinda, located east of San Francisco, California, I’ve noticed a lot of people here take advantage of the multitude of retirement benefits offered by their employers, and that’s a welcome and optimistic sight to behold.” Alan said in a brief comment to us.

How to Invest $500

While it may seem small, $500 can go a lot farther than you’d expect. For a safe choice, put it into a CD from a bank or other lenders, or use it to purchase short-term Treasury bills. These can be purchased through online brokers as well. For both of these options growth isn’t high, but the risks are almost zero. Great way to start your nest egg.

For those seeking more growth potential in exchange for a little more risk, check out a dividend reinvestment plan (DRIP). You buy shares of stock, and your dividends are automatically used to purchase additional shares or even fractional shares. This is a great choice for smaller investors because the shares are purchased at a discount and without paying a sales commission to a broker. Buying just one share of a company’s stock will get you started. Alan Safahi recommends this as well, as a safe way to grow your investment over time, with the benefit of compounding.

Summary

The investment basics are simple: Maximize your growth and minimize your risk. Minimize taxes, fees, commissions. Make intelligent choices with your limited resources.

The hardest part of investing is when you’re getting started, but the sooner you do so, the more you can potentially make. Simple as that.

Originally Posted: https://safahi.com/how-invest-with-a-small-budget-50044fd96faf

Best Social Media Practices to Boost Your Personal Brand

Social Media

Nearly half of the world is on social media, according to the Digital 2020 July Global Snapshot. There’s simply no question that today, to build a personal brand, there’s nothing else that compares to the power of social media. The potential audience, exposure, and ease of use it offers makes it one of the best methods for anyone to boost and grow their personal brand. Everyone who is pursuing a way this should use it, and the reasons why are listed below.

According to Alan Safahi, a major Fintech CEO who has started and led many successful companies throughout his career, social media allows brands to develop a deeper connection with their audience, on a more sincere and personalized level. Thus creating valuable customer loyalty, which generates leads and providing the advertising/marketing exposure that money can’t readily buy.

A person can use the momentum that social media creates to turn what was once a small, niche brand, and grow it to a common name that nearly every household knows. A famous example of this would be Elon Musk using his twitter account to grow support for his companies, interact directly with his customer base, post updates, job listings, and respond to questions/comments. Three reasons why social media has become this formidable advertising behemoth it is today, and why nearly anyone can use this to grow their personal brand are listed below.

Social Media Makes Your Brand More Authentic

In today’s digital world, where everyone and everything is constantly demanding your attention, it’s become increasingly more difficult for a small brand to gain notoriety and attention. One of the most important factors for a brand is if an audience believes in it, and trusts it. This only occurs if you’re an authentic and genuine brand, or if they at least believe that to be true. “Authenticity and quality of our products/services is one of the key metrics that I direct my employees to be aware of at all times, due to their importance in sales and customer loyalty.” states Alan Safahi, who currently resides in Orinda, CA.

The close proximity of this bustling town to San Francisco, a major tech hub, allows him to see nearly every day the power of social media in action. Safahi has spoken at many events, and has direct connections with many of today’s industrial titans, and he is adamant that if a company or a person doesn’t take advantage of the power of social media, they will be at a severe disadvantage.

Additionally, he adds that you should make sure that you don’t make any outlandish claims, or false statements, as this will only cause you to create mistrust and decrease your customer loyalty.

Social media connects Your Brand to a Lifestyle

Consumer trends closely mimic social media, and if a business or a personal brand succeeds in connecting their brand to a way of life, or a lifestyle, they will achieve great market penetration, along with a host of other benefits. They will build a deep economic “moat”, and their customers will be extremely loyal to the brand, often even referring your product or service to their friends and family. Social media allows people to post, share, and learn about lifestyles on a scale unmatched by any other medium in today’s world. An example of this would be trends such as the Keto diet, the meditate for thirty days challenge, and the ever changing fashion styles of consumers, spurred by influencers through social media. Data shows that consumers “commit to the lifestyle trends, and will do anything in their power to reasonably achieve it.” as also echoed by Alan Safahi.

Further adding, “With the rapid rise of social media and the advent of capable devices in almost every consumer’s hands to access the aforementioned market, individuals and brands are essentially required to cultivate a strong online presence.” Alan Safahi has leveraged this online sector to his advantage multiple times, and it has offered him and his companies numerous benefits, his extreme success being a testament to this.

Social Media Allows You to Grow a Global Presence

Perhaps the most remarkable aspect of social media is its broad reach; All over the world users log onto their various social networks and consume content every day. A large marketing team and the budget required to sustain one are simply not needed, instead one needs to be tech savvy and have a thorough understanding of consumer sentiments. It levels the playing field, so to speak. It doesn’t matter who you are, where you’re from, it only matters what value you can offer to the consumers.

As a result of this, it offers everyone a chance to strike it rich and make it big. Alan Safahi explains that the use of social media has given numerous people he knows the opportunity to reach a vast swatch of people, from all walks of life, and connect them to their brand, service, or product. In conclusion, if you’re not already actively expanding your presence on social media, you’re falling behind, as your competitors most certainly are.

Originally Posted: https://vocal.media/journal/best-social-media-practices-to-boost-your-personal-brand

Turn Marketing Goals into Wins for Your Business

Marketing

As we know in today’s world, it’s common for people to decide to start their own business, as the costs associated with such a venture have been declining for decades. However, it’s much less common for these newly founded businesses to actually be successful. a business; So , to increase the chances of success, we have to develop strategies that help your business achieve its maximum potential in terms of sales, growth, and revenue. One such strategy that is very common in today’s world is Advertising. Essentially, marketing a product or service to a broad range of people, sometimes extensively, so that they’re more inclined to purchase from you. There are many other strategies, and below we discuss these.

Five Ways:

1. Advertising

Advertise more, because as usual “Generally, the more you spend on advertising, the better your results will end up being. It’s the best way to be seen by many and offers a way to ingrain in some of these people’s minds a desire to purchase a product or service your company offers. As great entrepreneur and founder of ZED Network Alan Safahi said, advertising is the fastest and most efficient way to promote your business.”

2. Marketing plans:

Marketing plans should be strong and up to date, in order to ensure a wide range of new tactics to sell more products to a greater amount of people, are in motion. . It’s This process of identifying customer needs and determining how best to meet those needs, is very important. searching, analysing, creating, and always delivering the best to the customer is crucial in doing this effectively. The main aim of marketing is to create, build, and maintain a relationship with the customers and deliver the best customer experience to them.

3. Be Conscious:

Once you have started your business and have developed your marketing department to a sufficient degree, you should then be alert of your company’s security against potential hackers or other bad actors.. One should pursue protecting your assets as soon as possible. As we know now, fraud is common. So, secure all of your information, accounts, and priorities etc.

And always be familiar with your competitors’ do’s and don’ts; Their ideas, pricing, ratings, and information. It is not about stealing your competitor’s information but knowing their strong and weak points. you to make more informed decisions, and it’s much easier to move forward.

4. Team Work:

Businesses thrive when they have a diverse team of people who can contribute individual ideas. Even the first characteristic perceived by great entrepreneur Alan Safahi is. Teams can often be better and better equipped than an individual in the task of bringing things to fruition. Teamwork includes efficiency, delegation, ideas, support, effective communication, etc. Teams are indicative of power and unity, making business more powerful overall.

5. Strong leadership:

Strong leaders must always connect employees together whenever possible, and develop teams that lead in the right way forward. Good leadership creates employee engagement and passion, which leads to higher levels of customer loyalty, service, innovation resulting eventually in profits. A non-partial leader is known to be a leading contributor of business satisfaction. Leading positively is equally important, as it affects the positivity in the team and strengthens businesses for success.

In summary, businesses marketing strategies need a strong mind-set, dedication, knowledge, customer satisfaction, time management, and Unity, in order to succeed in business.

Originally Posted: https://www.allperfectstories.com/turn-marketing-goals-business/

5 Best Apps Managing Projects 2021

Apps

Are you looking for ways to improve your business performance in 2021? Look no further! With a guide compiled based on numerous metrics and studies, and with input of Alan Safahi, a fintech CEO, the 5 best Apps for project management are ranked below You can use these apps to assist in hitting your goals for the year and managing your team more effectively. Keep scrolling!

#5 ClickUp:

If you’re a power user or business owner with a preference for end-to-end solutions, this is for you. The ClickUp App meets nearly all project management needs and it includes lots of amazing features you can use for any task. No, this isn’t one of the many complex apps you’ll find on the store these days; it is easy to navigate and has a clean UI.

#4 Kantree:

Kantree is the way to go if you’re tired of the regular, clunky spreadsheets or the existing email system of your team’s communication. It’s a new app that solves all project management problems adequately and provides users with one of the best platforms for effective collaboration.

At the core of the Kantree app, you’ll find a ‘cards’ unit that represents a lot of things. It contains many attributes; from description to assignees to attachments, and others, which all help businesses manage projects effectively.

#3 MeisterTask:

Yes, having plenty of features on an app is great; but sometimes, it’s just not necessary. Imagine having to deal with loads of irrelevant features day in day out — you might end up more frustrated and confused than you would’ve been otherwise, not using the app..

MeisterTask is the app to use if you are looking to manage your projects easily without stress. It has just the essentials and nothing more. No cluttering, no feature-stuffing, nothing at all. All you’ll find on the app is a dashboard, tasks, and then projects. Yet, it does a great job at solving all of the common project management problems quite well.

#2 Quire:

Quire is an app catered to companies or businesses that usually have difficulties dealing with large goals. In order for nearly any meaningful action undertaken by those assigned to complete projects to succeed, there must be a deliberate breaking down of projects into smaller tasks; and this is exactly what the Quire app does.

With this app, you can bypass the commonplace hurdles and hassles of handling large goals, allowing you to manage your projects . You can also take notes of your thoughts about the project in the app, and plan for them in advance, so that you can deal with them without difficulty.

As you would expect, the Quire app has an easy-to-use interface, and users can easily switch views to suit their taste.

#1 Pian.io:

Alan Safahi believes pian.io should take the top spot; Pian.io manages and delegates tasks better than many other apps out there. You’re sure to get the very best project management experience with this app, a sit provides all that is necessary for teams to work effectively, and more. The platform even includes a tracking system for inputs like status, spent time, assignee, priority, percent done, categories, and a lot more. It’s very easy to use and quite intuitive.

Another key feature that sets the Pian.io app apart from the others is its ‘file management’ feature. With it, businesses can easily share files with their employees.

Originally Posted: https://safahi.com/best-apps-for-managing-projects-2021-a7929d2c366a

Are You Business Owner or an Entrepreneur?

Entrepreneur

The world today is, generally, more ripe with opportunities than in the past.. The advent of technology has led to the formation of more industries, companies, and the like than ever before.. As a result, many individuals who never thought they could do business have found themselves in the world of business, perhaps making a great deal of income as well. In addition, the increasing rate of unemployment due to COVID-19 has motivated many people into starting their own businesses.

Many people have happened to stumble upon opportunities and made great businesses out of them, but only a small percentage have the proper orientation and mindset that result in a successful business.

What then differentiates a business owner from an entrepreneur?

1. Motivation:

What serves as the motivation for starting a business goes a long way in deciding whether the owner is just that- a business owner or not. It is not uncommon to find that people start Businesses because a single opportunity opened up and they were available while there are others who first notice a need no one else sees and therefore seize the opportunity to create goods and/or services that meet such needs. The one with the visionary mind that notices what other people don’t, or even when they do, goes a step further to create a solution.

Entrepreneurs tend to listen more to their customers, which is the way things should be, according to an expert, Alan Safahi, a fintech CEO.

2. Passion:

Both the business owner and the entrepreneur have passion. This passion is just placed differently. The major concern of a business owner is usually to make profit for the company, and eventually its shareholders. This mindset goes a long way in determining the way they handle the business, relate with customers, handle feedback and so on. On the other hand, an entrepreneur is first interested in the industry. They go into business because they love that sector of the economy. For instance, an individual discovers they love fashion and enjoy anything that goes along that path. For that reason, they start a business in that line to explore their love for fashion, and share it with others.

It is important to follow your passion while starting a company, Alan Safahi opines. Of course, entrepreneurs would want to make a profit in their business but it wouldn’t be the only reason they start the business.

Business expert Alan Safahi also says that while you may make a lot of money from business, it should not be the goals.

3. Mode of business building:

Many business owners would rather build the business around themselves, concentrating on working in the business and becoming an indispensable part of the business. The entrepreneur is entirely different. They work on the business as much as they work in it and build it in a way that it can run without them. An entrepreneur creates an exit option in the business, so that if they want to leave to pursue other ideas or ventures, they can leave and the business will still be standing.

Originally Posted: https://alansafahi.com/are-you-a-business-owner-or-an-entrepreneur/

Seven Ways Ensure Business Succeeds

No one starts a business with the mindset that it won’t succeed. Everyone wants their business to succeed. Many business owners don’t know what to put in place to guarantee their business’ success, however. Here are a few things business owners can put in mind to ensure their business’s success.

1. Have a business plan:

A business plan is as important as the business itself. The first thing entrepreneurs should do once they conceive a business idea is to make a plan. A business plan helps you determine the business structure, study the market, and determine the financial implications of your venture. It also serves to aid in identifying the personnels your business will require. It is the first thing to consider when determining if a business is going to succeed or not. According to a fintech CEO, Alan Safahi, business owners should take more time during the business plan to carefully go over all aspects of it.

2. Learn to manage time:

Time is very important to any business, especially a new one. A business owner should learn to be strategic about the numerous things that need to be done within the business. You should resist the temptation of getting your hands on everything and instead learn to delegate to others, with consideration placed on their strengths and weaknesses. This way, the business owner can focus their energy on other things that can only be done by them and over all, achieve effectiveness.

3. Make constant financial reports:

If you want to know how your business is doing, the first place you should look is the financial record. When you keep an up-to-date financial record, you can easily detect what is right or wrong with your business and set it right, on time. Expenses are often and sometimes, particular expenses can seem insignificant and not worthy of note. However, Alan Safahi, a business expert says that all these expenses should be properly documented to keep an eye on the cash flow and ensure regulatory compliance.

4. Be visible online:

The importance of taking your business online cannot be overstressed. If your business is to succeed long term as the world progresses, it should be online, right there in the faces of the people who need your goods and services. It has been shown that eighty-nine percent of customers search for the products online. If your business is to survive, have an online presence. Expert Alan Safahi opines that most people these days search for their information online.

5. Treat your customers well:

Your customers are very important to your business, so you should not treat them any less. There should be a system in place that allows your customers to register their grievances, suggestions, commendations and expectations without judgment.

6. Be flexible:

The business plan you make at the start of the business may have been the best at that moment but, as time progresses, things change; These include behaviour as well as the natural tendencies of the market. . Considering these factors, you should be willing to adapt some things in your business to the changes of the future.

7. Integrate other people’s ideas and suggestions

Anyone familiar with your business — employees, customers or other well-meaning individuals, can suggest some things to you concerning your business, and you should be willing to listen to them and learn from it. Possibly you can even integrate these suggestions.

Originally Posted: https://medium.com/@AlanSafahi/seven-ways-to-ensure-your-business-succeeds-2eb549be6cc4

Social Media mistakes Brands Avoid in 2021

Beyond a doubt, 2020 has been a completely different year for the world in its entirety. Individuals, families, and businesses have learned that, more than anything, things cannot be done the way they used to be. As individuals and families try to fit into the new normal, brands are also working hard to avoid being swept under the carpet. Social media has become more important to brands than ever before. Brands are therefore expected to pay more attention to the use of social media if they are to make the most of the situation. However, there are a few mistakes brands should avoid. Here are three such mistakes:

1. Redundancy

As much as people are interested in visiting various social media pages, they don’t want to read the same thing over and over again. If your audience is to take your social media page seriously, they should know that they are not wasting their time engaging your page. As much as possible, avoid repetition of content. Let your audience interact with various aspects of your brand, feed them with information and tips about the industry of your brand. No one wants to be bored.

You can be sure that when they discover that you’re repeating content, they would soon lose interest. Alan Safahi, a Fintech CEO, explains that it shows poorly on your business when customers visit your page for relevant information and can’t find it.

2. Irregular online presence

The last thing you want to do is to create an impression that you cannot be trusted to show up every day. As a brand, you cannot afford to go off even whenever it becomes inconvenient. Alan Safahi confirms that consumers online love consistency. Most definitely, your audience would not keep their fingers crossed hoping that you would be back. Business is competitive, no matter the sector of the economy you’re focused on, you could be back only to discover that you no longer have an audience to reach, or at best, you could meet a very passive audience.

      Alan Safahi concludes, therefore, that you need to keep your followers updated regularly if you are going to build a positive reputation for your brand’.

3. Staying silent on relevant issues

You should have it in mind that your audience belongs to a society and whatever happens in that society is inevitably going to affect them. Therefore, as a brand, you should not be passive when issues of grave consequences are at the forefront of discussions in the aforementioned society. If elections are set to take place in your states or locality in 2021, you can offer a few advice on civil responsibilities. Such discussions would resonate with your audience and are sure to help you build common ground with your audience. This rather simple gesture can turn a percentage of your audience into customers.

As a brand owner, if you put these points in mind and direct your efforts to avoid such social media mistakes in 2021, you can rest assured that your audience is sure to grow. This is a very good place for a brand to be.

Critical Process of identifying the Right Co-founder

Would you spend the additional time it takes to find the perfect co-founder, resulting in a better balance sheet and a more robust skill set available to your team, or would you settle for just an alright candidate? Getting the right co-founder helps to generate ideas and give a business a competitive edge. Working on a startup alone can be difficult, but at the same time, what is the process to identify the right co-founder?

Alan Safahi, an executive who’s been in the Fintech space for over a decade, believes that two heads are better than one when it comes to business startups. There exists a need to have someone that shares the same burden of the business with the founder. Not only this, they both share ideas, risk, complement each other’s skills, and have the same aims and goals — having a co-founder offers the entrepreneur a diverse host of benefits.

Identifying a co-founder is not an easy task, and I hope that the tips below will help you make the right decision.

● Ensure you have the same work habit:

Alan Safahi reveals that it is essential to choose a co-founder with the same common ground as you. This common ground might not be a perfect similarity but might be a bit of the same work habit. This aids efficiency and allows for perfect communication for both parties. It is good to ensure that your co-founder is willing to put in as much energy as you put in and communicate in a similar style. Discuss your work habit and be honest with each other when you consider putting forces together.

Complementary Skills:

A right co-founder should have the skills that the founder is lacking. The founder must try to identify his weakness and make sure that the co-founder chosen can work correctly in complementing the founder’s skillset. You want to ensure that you and your co-founder have different skills that can complement each other.

Go for Character:

Alan Safahi agreed that skills are essential, but that should not take the place of character. You can learn a skill, but nothing can replace it with compatibility, trust, loyalty, and personality. Choose someone you like. Co-founder character and morals are often as important as their skills.

Learn the other side:

As much as you identify a co-founder with complementary skills, Alan Safahi suggests that it is also necessary for the founder to eventually learn the skills and have an idea of what the skills entail for better communication between the founder and co-founder.

Communication is key:

How do you intend to get things done if you don’t communicate well with your co-founder? Each individual has a different mode, or process of communication. Some people prefer direct contact, while some might require communication through email. Others might prefer focusing on asking questions and getting around to the main point steadily. No communication style is terrible, though. Different communication styles, however, might not work well for startups, which are very volatile at the start.

Conclusion

The process of identifying the right co-founder is not an easy job; many factors need to be put in place before concluding. Consider having a co-founder that you trust, and one you have a level of mutual respect for. Remember, skills and networking alone will not save the business.

Originally Posted: https://medium.com/@AlanSafahi/critical-process-of-identifying-the-right-co-founder-c09e40370848

Why Entrepreneurs Should Plan For Failure and Not Success

Entrepreneurs

A lesson every entrepreneur learns: “Hope for the best but prepare for the worst”, failure is nearly inevitable for many entrepreneurs. It’s just a channel to the route to success. Every successful business has, at one point in time, failed. So tell me why you are scared of failure when you need to focus on using it as a platform to get better, and learn from your mistakes. Alan Safahi, a fintech CEO says, “Don’t view failure as the ending, rather view it as the beginning of your business.”

Always plan for the worst scenario when it comes to doing business. This makes you plan for the potential obstacles that lie ahead, such as intellectually, emotionally, and financially. Planning to fail and thinking to fail, however, are different concepts entirely. Planning to fail is being practical and makes you aware about every possibility that may occur. This will even gear the entrepreneur up to work. Thinking of failure is like conceding without even trying. This might lead to a decrease in growth, discouragement, and give room for doubt, according to Alan Safahi.

Do you wish to understand why it’s necessary to plan for the worst-case? The following tips below explain why an Entrepreneur plans for failure and not success.

It Ensures Progress: Having planned for failure makes it easier to move on with the business. It does not make you take things personally, which might occur if you have not planned, and were faced with sudden news that could be difficult to handle. Entrepreneurs should face situations as they’ve expected because they will be prepared ahead of time, but if he/she has not, it will come as a shock and affect team morale, efficiency, and psychology. I know you don’t want this to happen. That’s why you plan for failure, to ensure the progress of your business. Know that failure is part of the game you opted in, and, who knows, It might serve as a platform for something far more significant and better.

It Helps To Get Rid Of Fear: Most of the time, the fear of failure holds us back from exploring different opportunities and leads us to stick to our comfort zone. Once an Entrepreneur makes a plan for failure, it gives him/her the confidence to make potentially risky decisions.

Sense of Direction: Planning for failure gives you the room to double-check a decision you intend to carry out, thus giving you a path for redirection. Planning for failure provides clarity on issues that might go wrong, or have gone wrong in the past.

Planning For Failure Gives You Strength: Failure can indeed knock you down, but it can also be used as a tool to help get you back on your feet. It makes you feel stronger and builds you instead of tearing you down. This is why Alan Safahi believes that you should plan ahead, and plan for failure as an entrepreneur instead of success.

Conclusion

The journey from success to failure and failure to success is not an easy one at all. At the same time, dealing with failure in the wrong way will also keep you away from success. We need to resiliently accept failure sometimes, to learn from the situation and make ourselves stronger on the road to success.

Planning for failure as an entrepreneur, and not for success, is a plan for strength, a sense of direction, and the removal of one’s fear. Lastly, it’s a plan for progress.

Originally Posted: https://alansafahi.com/entrepreneurs-should-plan-failure-and-not-success/

Key Characteristics Every Entrepreneur should have

Having an idea and plan is not quite enough to see you through the business’s whole process. Success as an Entrepreneur is not just about the concept and how much money is poured into the venture. To be a successful entrepreneur, you have these essential characteristics, according to Alan Safahi, a Fintech CEO.

An entrepreneur refers to a person who undertakes the process of opening and managing a business, usually someone who has the ability to manage the risk inherent in the aforementioned process, as well as managing the venture, having a long term goal, and most importantly, staying profit-oriented. However, the fact remains that not all entrepreneurs are successful. While we see some success, we have also seen some entrepreneurs start well but, unfortunately, not end well. Why do you think we have this? You might even see certain entrepreneurs who have a great concept and a solid launch but in the end the company folds. Some might ask themselves, what happens along the way? Could it be that this entrepreneur lacks specific characteristics of entrepreneurship that produce a successful venture? Let’s talk about these traits that every successful entrepreneur should possess (In our opinion).

Key characteristics of an Entrepreneur

● Ability to Take Risk: The first characteristic perceived by Alan Safahi is the Entrepreneur’s ability to be a risk-taker. An Entrepreneur has to understand that risk is part of a business, which can either come with failure or success. Playing it safe never leads to winning in a company. Therefore, the courage and capacity to take risks are essential for entrepreneurs.

● Teamwork: The best business operates as a team where each member of an organization is saddled with responsibility and everyone has the mindset of focusing solely on the business’s future. This doesn’t just happen by chance. A good entrepreneur shares responsibility within the team and gives them room to operate in whatever role that they have been assigned. In addition to this, the business’s goal must be set so that every team works towards achieving it.

● Vision: Alan Safahi explained that every entrepreneur must be a visionary. He must be able to recognize how the business started, where the business is, and where he/she envisions the company being in the long run. Without this, forget about a successful venture. He or she would only be working aimlessly without having a direction and without reaching any point of success.

● Leadership: As important as a vision is, it takes a leader to transform the former into reality. Without a proper leader, there won’t be an assigned role to the employee, resulting in everyone working aimlessly, independently, and without a direction. A leader needs to inspire his/her employees towards achieving a common goal and be able to motivate them anytime they are down.

Creativity: One of the critical characteristics of entrepreneurs is the ability to be creative. An Entrepreneur must be able to do things differently without depending on the majority’s standard approach.

● Passion driven: Every business starts with a spark of an idea. Having a passion for a startup gives you the drive to turn your vision into reality. You must have the necessary motivation to keep the business going, even if there are ups and downs in the venture. The passion of the entrepreneur drives the business going, and is often the soul of the company

Conclusion

Think about how you can develop yourself and become an exceptional entrepreneur even as you consider the following critical characteristics provided by Alan Safahi. Always try your best to network with others, and to recognize the different partnership opportunities available at any given time.