The Canadian Business World: Five things to watch for

 

What’s new in the Canadian business world? How can you get an affordable Canadian merchant account easily so to grow your business? Keep on reading below and you’ll know.

 

Recent Happenings in the Canadian Business World

Here’re several pieces of news concerning the Canadian business world that you should take into account:

 

  1. The price index for February 2018 speaks of the1st fall in home prices since July 2010. The reason has to do with increasing interest rates and stronger mortgage regulations.

 

  1. According to jobs galore Statistics Canada, 32.300 net new jobs have been opened. This happened after Canada generated a rush of full-time work. The latter made it possible to keep the national unemployment rate at the lowest point ever.

 

  1. Telus Corp., Vancouver-based telco, together with competitors Bell and Rogers, have been running 5G technology pilots. Also, they were going to spend billions of dollars on upgrading their networks so to be well prepared for the early stages of 5G technology within 1-2 years.

 

  1. According to Statistics Canada, the manufacturing sales grew 1.9% to $55.8 billion in February 21. This was registered after 2 consecutive monthly decreases. The main reason for such growth has to do with higher sales in the transportation equipment industry.

 

  1. CPPIB CEO Mark Machin notes that a decline in global stock prices may result in better prices for investments. The fund got a 4% return in the quarter ended Dec. 31.

 

  1. According to Statistics Canada, the country’s annual inflation rate hit 2.3%, inching a little farther past the midpoint of the central bank’s ideal range of between 1-3%.

 

By the way, business owners interested in a Canadian merchant account should find a reputable payment processor to work with. Only a respectable merchant services provider can help you get the best deal for your business. With a true professional in the field, you can enjoy the lowest possible rates and the right merchant services tailored to your own specific business needs.

If you’re a merchant interested in starting or growing your business in Canada, you can’t do without a Canadian merchant account. Also, you should always keep your finger on the pulse so to never fall behind.

 

Author Bio: Electronic payments expert Blair Thomas co-founded eMerchantBroker, serving both traditional and high-risk merchants by offering a Canadian merchant account, and much more. His passions include producing music and traveling.

How to Eliminate Errors off Your Credit Report

A 2017 Study by LendEU, a re-financing company, disclosed that credit report errors are the number one grievance on CFPB’s website. And though they may seem like a bother to you, these errors may cause severe problems in your world of finances. Though you’ll still be able to get a bad credit merchant account, getting additional funding will remain a challenge.

For instance, a Lexington Law study showed that over 70 percent of U.S citizens are denied home loans because of bad credit, and these poor scores are most times caused by credit report errors. This is to say if you follow up and have the errors on your credit report corrected then you can increase your possibility of getting extra financing when in need.

But how do you deal with the errors that are dragging you behind?

Confirm how long it has been there

The majority of negative credit information stays on the report for seven years, except for bankruptcies that last ten years. After this period, the info should be removed from your report, and if not, the bureaus might have put down an incorrect date for the debt. But you can always send them evidence of the time of the debt.

Compare the three credit reports

The three companies that provide credit reports are Equifax, TransUnion and Experian and they all different. They might have different mistakes and debts. Luckily you have the chance to download them for free once every year at AnnualCreditReport.com.

 If you find any mistakes, follow up with the bureau to ensure it is removed, or send a complaint to the Federal Trade Commission & CFPB.

Your letter should include:

Contact information: name, address, and telephone number

Report number, if present

The details of the mistake you’re disputing

Reasons for disputing the info

A request that the data be corrected or removed

Attach a copy of part of your report that contains the info you’re challenging and have it highlighted.  Also, remember to keep a copy of the dispute letter.

You should hear from bureau within 30 days. In case you report is corrected, the bureau must send an official notice to all report providers it gave wrong information.

Get a Legal Representative

It is advisable to revise the whole credit report once more after spotting and eliminating an error.  An FTC 2015 follow up study— after the one in 2012— revealed that out of 121 customers who had a single unsettled dispute on their reports in 2012, an entire 84 still complained of erroneous data.

It’s annoying how credit bureaus don’t pay attention to the mistakes on your credit report. Because they don’t want to waste funds digging deep into disputes, so they choose to stay silent unless you file a claim. That’s why you need to hire a lawyer or credit repair firm to help you solve any errors you feel the bureau is hesitant to correct.

 

Author Bio: Electronic payments expert Blair Thomas co-founded eMerchantBroker, America’s leading bad

Three Things to Know Before Signing Your Business Up for A Peer-To-Peer Payment Solution

In this overly technological age, making payments is as easy as ever. Thanks to improved communication networks and a constant influx of new devices, electronic money transfer is now the heart of doing business. The latest entry to this trend is mobile Peer-to-Peer services, which allow customers to pay for items and services through their favorite gadget – their smartphone.
With P2P solutions coming from all directions, merchants and their customers have a good reason to smile. But, how do you know which solution is best for your business? Below are a few tips that could help.

1. Consider the nature of your business
The market has lots of peer-to-peer payment utilities, but what you may not know is that many are intended for specific uses, which range from personal to commercial purposes. It’s, therefore, a good idea to choose a P2P solution with your type of operation in mind. If you own a cleaning business with a recurring clientele, for example, you may want a service that supports recurring credit card billing or an ach merchant account, rather than a point-of-sale setup.
Many service providers include clauses in the contract that prohibit the use of a P2P service for a purpose other than that for which it is intended. Venmo, for instance, notes that using a personal account for business would constitute a breach of contract, which would result in holds or transaction reversals.

2. Mobile P2P billing usually has lower transaction fees, but not always
Compared to typical credit card processing, accepting payments made via mobile P2P apps typically comes at a lower price for the merchant. However, because these apps also allow customers to pay with their credit cards, the fee structure can be unpredictable.
For instance, if a customer uses Venmo to transfer funds from their credit card to your P2P account, the transaction cost will be 3% of the funds paid. On the other hand, if the payment is financed by the client’s bank account, debit card, or Venmo balance, that fee is waived.
Additionally, P2P service providers often note that merchants may be subject to third-party fees, such as those which your payment processor may charge in the event of a chargeback.

3. You won’t have immediate access to your money
A customer touching the “Pay” or “Transfer” button doesn’t necessarily mean the paid amount will appear in your bank account. Many P2P services come with a credit account, into which the funds first go before they are processed and sent to the bank.
Similar to depositing a check or accepting credit card payments, it can take days for a P2P service to process a sale involving your bank. Therefore, although a customer can quickly send funds from their P2P credit account to yours, the transaction will still need to traverse the banking system before it can become actual cash for you to access, outside the P2P service.
When choosing a peer-to-peer solution, therefore, read the terms carefully to know when you may …