5 Alternative Investment Approaches

WHAT ARE ALTERNATIVE INVESTMENTS?
An alternative investment is a class of investment that are not covered under any Government regulatory like RBI, SEBI, IRDA, and PFRDA. It refers to a privately pooled investment fund – a trust or a company.

Here are some alternative investments approaches that may influence your investment decisions -

#1 FOCUS ON ABSOLUTE RETURNS
You invest to end up with more money than what you started with. It means you are looking for an absolute return: how much did you actually make, is the main focus.

Invest in assets that you believe will do well; don’t invest in a product just because it’s likely to outperform the market. Have your analysis on hand.

#2 RETURNS ARE ONE-DIMENSIONAL, RISK IS MULTI-DIMENSIONAL
When it comes to investments, returns are easy to calculate. Keep your focus on Risk involved with the alternative investment asset as well. Prepare a list of the relevant risks. You need to have a clear idea of the risks involved in your investment, as it will help you to take a calculated decision.

Also, if at all something unexpected happens, you will be more likely to make better decisions if you’ve thought about the risks before investing.

#3 KNOW THE SOURCE RETURN
Understand what will influence and drive the returns on your investment. While you hold the investment, monitor the value of your investment.

Constantly revisit your assumptions of the return drivers of investment, in case they don’t match your parameters or expectations rethink your investment.

#4 UNCLEAR IS GOOD
Anything that’s not traditional is alternative. An alternative investment is populated by investment ideas that may not be immediately obvious. For instance cryptocurrency.

Continuously learning, exploring, researching, studying, and looking outside your comfort zone is the key to financial success.

#5 DIVERSIFICATION IS A MUST
Holding a mix of assets that are equally good, but which behave differently, will leave your portfolio’s return intact, and lower its risk as well.

Diversify means constructing a portfolio with very varied return drivers and risk parameters, not just different assets.

Most of us see investing in alternative investments highly risky. However, if you desire to live a successful and fulfilling life and retire with enough money to enjoy your retirement years, you must take calculated risks. This includes risks in your relationships, risks in your career, and risks in your investments.

While taking smart calculated risks is vital to reaching your goals in life, remember that taking bad risks and losing can set you back, sometimes significantly. It may help, however, to remember that taking smart risks is as simple as making wise decisions.

A Framework for Good Decision-making

I’ve learned a lot in my life from observing others and through my personal experiences-both good and bad. Therefore, when I consider taking a risk in any area of my life, here are the questions I ask myself:
1. What are the risks? Be honest. Don’t let your emotions prevent you from carefully considering all possible risks. This is where the landmines exist.
2. What are the odds of one of the risks coming true? Be truthful. Use real data whenever you can by doing research and talking to others.
3. What are the rewards? Be realistic. Can you really quit your day job and devote ten hours a week to something and make $100,000 a year? (Probably not.)
4. What are the odds of those rewards? Be sensible. Find out how many others have done something similar and how they have fared.
5. What other options do I have? Be creative. Don’t limit yourself. Consider all possibilities.
6. Do I need to make this decision today? Probably not. Take the time you need to do your research and explore your options.

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Top 7 Things to Consider Before You Start Investing

Be it investors, potential investors or general public who is looking to start investing, everyone gets excited the minute they have extra cash on their hands and one of the usual plans is to invest it for quick profits. People want to start making their money work for them and that’s a very understandable and rational thought but sure enough one needs to be practical about their finances as well. There is a lot of due diligence and groundwork that goes into understanding the financial markets before one must start investing and it’s for their best as well!

An investment making company will generally help you get started with your investment and offer you end-to-end insights into how to make more money and how to invest money to achieve your financial goals. However, there are a few things you as an investor must consider before approaching any Asset Management Company or getting started on your investment journey.

Here are the top 7 things one should consider before they start investing to make more money:

1. Pay Off Prior Dues

No investment can start without you actually being done paying off your dues and clearing your credit. A clean slate for all your debts is very essential to begin investing stress free and focusing on returns.

2. Create Cash Emergency Fund

Before you start investing it is very important for you to have a separate cash fund prepared just in case of emergencies. There is no questioning the volatility of the market and you can’t really depend on redeeming from market when in dire need. Having an emergency fund lets you start your investment journey with a bit more ease.
3. Create Financial Goals

One of the most important questions often asked is how to invest money and earn quick profits! However, there is much more to investing than just expecting returns. It is equally important to have your financial goals set it place and invest accordingly. Be it buying a dream home, car or saving for retirement, an investment making company will know exactly how to help you get started.

4. Understand Financial Instruments

There are tons of financial instruments in the market which offer numerous benefits. The bigger question often is what you as an investor wish to achieve, quick profit, long term stability, lesser risk or just saving for the future? It’s not tough to make more money with your investments as long as your priorities are already quite clear.

5. Due Diligence on Investment Options

Asset Management Companies have a variety of financial instruments that an investor can pick from and ensure that they make more money. If you want to know how to invest money wisely on the other hand then it is best if you do your due diligence on all the financial products in the market and then make an informed decision to earn quick profits.

6. Research on market trends

How to invest money wisely is indeed a question every investor should be asking themselves or the investment making company who is helping them build a portfolio. Keeping updated about the market, staying on top of news in the world markets and knowing the current business trends makes it easier for the investors to pick their financial instruments for investment.

7. Evaluate your risk bearing capacity

Every individual has their own risk bearing capacities. An investment making company will often ask you the risk level your profile fits in as an investor as it helps them decide where and how to invest money and earn quick profits. How to invest money is often a question answered at the expense of how much risk are you willing to take for the same,

As simple and lucrative investing and making quick profit sounds, the truth is that unless you have a foundation in place and thorough research to build up, your investment portfolio won’t be solid.

Asset Management Companies are there to help investors with their portfolio, right from researching and investing to managing and reinvesting investors’ wealth. If you are new to the world of investing then these pointers will make sure that it doesn’t seem intimidating anymore!

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Why Local SEO Is Immensely Popular

SEO has always been the choice of every business in order to get organic and cost effective searches for their brand or service. It is the most preferred service that is suggested by every digital marketing company to its client as it promises the maximum benefit. Those well acquainted with SEO would know the importance of local SEO and how it is useful for practically every business, big and small.

What is different about local SEO is that it targets the people in the area where your business is established, which makes it a very potent tool for those brands who want to rope in the local crowd and increase visibility for their business.

Google, the top search engine on the internet has always supported new companies by providing a lot of free tools such as keyword planner, webmaster tools and more. These tools play a very important part in helping these small businesses in increasing visibility. Recent trends have shown that Google focuses a lot on searches based on demographic and wants to give people what they are really looking for, narrowed down to the point. This is a game changer for small business who can thrive if they manage to become visible to the right audience.

The biggest proof of the above is the “Pigeon Update”. Launched in 2014 this algorithm provides more useful, relevant and accurate local search results. Its main function is to provide more preference to local search optimization and equip users with more relevant search results.

This doesn’t mean anything unfavorable for big businesses as they have already created a niche for themselves in the market and amongst their customers. Google ranking has always been about a brand’s history and authority and that will not be changing anytime soon.

The growth of mobile, Smartphone and tab users has contributed a lot to the growing popularity of local SEO. Gone are the time when people stayed fixed at one spot typing into their PC’S and searching for stuff using the right keywords. These days everyone on the go generally dig out their Smartphone and type or speak into it what they are searching for, they want immediate result and hence the need for a local service provider arises.

Local SEO is not difficult and there are various avenues that can be used to further promote your business. Lot of creatives avenues can be utilised in order to make your business go viral using Local SEO

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This Is What Your SEO Should Be Doing

Do you know what your SEO company should be doing to help your website’s search result performance?

Unless you’re living search engine optimisation night and day, you probably can’t answer that question in any depth.

The worrying thing is that a lot of “SEO experts” don’t seem to want (or be able to) answer it either.

That makes it a tad difficult for you to sift out the good from the bad. Of course, one tip there would be to never respond to the small avalanche of SEO spam emails you get every day.

So, what should your SEO be doing for you?

Well, their job is to get your website visible, appearing in relevant search results. Note I used the word “relevant” – there’s no point in having top rankings for keywords that won’t bring in the customers.

The things you’re looking for, from the top down, are:

Improving your URL structure

Your URL is the web address of your web page.

For example, it could be:

www.thedesignerdogcollarhouse.co.UK/leather_collars

Which makes a whole lot more sense than something like:

www.thedesignerdogcollarhouse.co.UK/prd-34H87

Although the readability of your URL doesn’t have a massive impact on your rankings, it could have a detrimental effect on your click through rate.

Title tag optimisation

Your title tag has a huge influence on your rankings. When you look at search results, it’s the bit at the top in bold.

It mustn’t be keyword stuffed but should include your main keyword. It should flow/read naturally and include your company name. Plus, every page of your website must have a unique title tag, but one that is consistent in style, such as:

Leather Dog Collars | The Designer Dog Collar House

Headings

Another major ranking factor is the heading tags, which show the main topic of each page. A bit like the title tags, every page needs a unique H1 tag and only one of them. They should also be specific, such as:

Leather Dog Collars

Rather than:

Collars

META descriptions

Although these won’t affect your rankings directly, it is an element that, when done well, can attract click throughs.

The META description is the short paragraph that appears in the search results under the URL. It’s an opportunity to show the searcher how you can help them. It should contain your keywords, but again it must read naturally and make sense.

Fantastic content

Another part of the SEO role is the generation of great content. Fresh, original and informative content is what will get you noticed. That doesn’t mean it should be stuffed with keywords. They should be present but in a gentle sprinkling. Above all your content must be well written, original and authoritative.

Inside links

The last piece of the puzzle refers to links. In this case, we’re talking about internal links that will help your user navigate through your website and also allow Google to crawl your site.

Make sure the links go deep inside your site and don’t just deal with the top layer of pages. The anchor text you use must also be natural.

You’ve probably noticed that a big part of the SEO’s role is keyword research. Without it, none of the above would work. That’s not to say, however, that keywords are the be all and end all.

When people do take that attitude, you’re left with incomprehensible sites that are stuffed to the rafters with keywords. Firstly, Google will frown on you and, sooner or later, slap you with a penalty. Secondly, you’ll turn people above in their droves because it will be obvious to them you care more about your rankings than you do about your customers.

Finding a good SEO can be a chore. It’s always a good idea to ask colleagues for recommendations, but also check out their results and listen carefully to what potential suppliers tell you. If they’re not happy to show your results or offer names of referees, step away.

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How SSL Has An Important Impact On Your SEO

With the explosive growth of ecommerce and apps, the necessity of a secure Internet experience is growing by the day. An SSL (Secure Socket Layer) certificate will protect any business and it’s customers from prying eyes, hackers, malicious virus and malware, making it an indispensable asset to any serious business owner that has an app or a website. However, marketing teams, and Digital marketing companies offering SEO services should not ignore SSL as some geeky thing not within their turf.

What does SSL do?
SSL brings essential strength to your website in terms of security. First of all, it protects the data sent between the user and the site, ensuring no prying eyes can read, copy or manipulate it. This is especially helpful when using payment gateways to protect your credit card details. Secondly, through an SSL certificate, a website can ensure that you are exactly who you claim to be and not someone else pretending to be you – a concept also known as authentication.

Why is SSL important? Because Google says so

Google’s move to incentivize SSL adoption is a reaction to the documents leaked by Edward Snowden describing government surveillance on a large scale. Google wants to make a point that your data does not get shared with anyone. Hence, they made an important change to the rankings algorithm: any website having an SSL certificate will appear higher in the search results of Google, as compared to a website which does not. As a digital marketing company, this information is critical to measure the effect of their SEO services.

SSL will give you a competitive edge
Adding SSL to your site won’t make you suddenly rank #1 for each and every keyword, but if your website and another website tie on every other ranking signal then having SSL will make you rank higher. When drafting a strategy for your SEO services, it is important to plan for those highly competitive keywords for which, you surely don’t want to get burned by something as trivial as not having an SSL Certificate. Though SSL is only one of the two hundred ranking signals used by Google, digital marketing companies cannot ignore its importance.

Do not be careless with SSL
Careful setup of SSL is a challenge and if you are not careful, unnecessary duplication is a common mishap with two versions of the same page getting indexed – one for HTTP and the other for HTTPS. This will drive your SEO company crazy when duplicate versions show up in search results to confuse your visitors

Don’t worry, most websites have it tough

Besides the cost and some compromise on speed – thanks to does cost bandwidth and CPU cycles – the advantages of an SSL certificate do outweigh all its shortcomings. Having said that, whether in the form of engineering hours, installation and implementation of SSL certificates, or additional hardware, encrypting the transmissions between your browser and the server costs money. For large websites, small bandwidth and CPU compromises add up to a substantial amount. That is why even though SSL does have a direct correlation with higher search rankings, but even the big websites don’t get it right.

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Easy Ways to Make Money Online

If you’ve been looking for easy ways to make money online, I’m sorry to disappoint you. Don’t get me wrong. Easy ways to make money online do exist. However, they are not going to be found on any list you come across on the Internet. Why? Because most of those “easy” ways don’t really work.

Do they work in reality? Not really. Will you earn extra money doing it though? Sure, but you will also make more from your nine to five job. The hard truth is that there are only real easy ways to make money from home.

What are these easy ways to make money from home? Well, for starters, you could write blogs for other people. You could also use social media as a way to make money from home. In either case, you will have to set up your own blog or website.

You could also sign up with an affiliate program and sell other people’s products. If you’re selling someone else’s product, all you have to do is display the link on your site. From there, visitors to your site will click on the link and then make a purchase. That’s pretty simple, but if you can find a way to make extra earnings, your earnings could be very substantial.

However, what if you can’t find any extra tools to help others? That’s fine. You can still make extra money by selling your skills. There are plenty of individuals who are interested in selling their skills to others. You can teach them how to do something, and then once they’ve learned the technique, you charge them a fee. Some folks won’t mind paying a fee to learn something new, and if you can make your tutorial downloadable and easy to follow, you can have a booming internet business selling other peoples’ skills.

Finally, you can earn money from home by developing your own website. This is probably the easiest way to earn a side income from home. It won’t make you rich, but it will help you supplement your income. And it’s a great way to help your loved ones. If you’re looking for a fun way to make extra cash at home, you can’t go wrong by exploring all the possibilities.

The truth is that there are several different ways to make money from home. It’s important to explore all your options, as it varies greatly from person to person. That’s why it’s so crucial to have extra tools to use. However, if you can’t find any extra tools, you’ll have to develop some on your own. It varies wildly. And it will largely depend on what kind of skills you possess.

Extra tools for extra earnings are basically everywhere. You just need to be resourceful. But you should also realize that you won’t be paid an hourly rate by any means. The earning potential can be quite great, but it depends on your ability to market yourself. So as long as you have a product or service that people want, you could earn a side income with ease.

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Essential Tools Necessary for Professional Carpet Cleaning

Carpet is an integral part of floor decor, uplifting the visual appeal of the space with its sleek texture. However, these carpets are prone to wear and tear due to daily foot traffic, dirt, dust mites and occasional spills. To ensure a clean and well-maintained carpet, periodic carpet cleaning using the right tools and equipment is of paramount importance. Cleaning with the standard home cleaning supplies simply does not produce the desired result.

Here are the five most widely used equipment used by professionals for a thorough carpet cleaning.

Portable Cleaning Tools
For smaller areas, carpet cleaning experts use portable equipment, which are relatively large machines but is easy to carry. These machines are available in various types depending on the purposes of their uses. The portable equipment is designed for various methods of carpet cleaning based on the kind of carpet and the customer’s preference like carpet shampooing, bonnet cleaning, encapsulation, hot water extraction or dry carpet cleaning. Professional companies carry most of these portable tools with them to perform cleaning, adopting various approaches with the machines for the different methods.

Some other portable types of equipment that professional services use are as follows:

Vacuum Cleaner: A vacuum cleaner is an essential carpet cleaning tool to tidy up the carpets and complete the cleaning procedure.

Defoamer: Foam can reduce the effectiveness of the cleaning process. Hence carpet cleaners use defoamer to remove the foam and speed up the drying process. These defoamers are a mixture of silicone or oils that are effective in removing the foam.

Air Scrubber: This device works as an air filtration system and is used during dry cleaning to get rid of airborne particulates, fungi, and foul odours from the carpet. The scrubber is used after a deep cleaning job to increase the air quality in the room.

Carpet Cleaning Wand: This is the primary tool in the cleaning process. The wand is used to spray the cleaning solution as water jets, which is then sucked back through the vacuum slot in the equipment. While rotary cleaners work best for shaggy carpets, wool carpets are best cleaned with wands to prevent any kind of damage to the carpet fibres. It is not possible to use a pro extractor without one.

Crevice Tools:These are special tools to clean crevices like those between the stairs, areas that are difficult to reach and upholstery cleaning.

Protective Tools: To protect furniture and other items from suffering any kind of damage while cleaning, professionals use these protective accessories like furniture protectors, caution signs, straps, corner guards, and chemical racks.

Ventilation Assister: On completion of wet cleaning methods, service providers may blow fans to expedite the drying of the carpet.

Truck-Mounted Cleaning Equipment
These are heavy-duty cleaners suitable for cleaning larger spaces. However, it must not be inferred that truck-mounted cleaners are only used for larger commercial workspaces. There are many homes that opt for them due to certain advantages like these powerful cleaners do not mess the area cleaned since the machines draw water out of the building as the cleaning process continues instead of draining them into the toilet or sink.

These are some of the vital equipment necessary for deep cleaning of the carpet. It needs mentioning that the use of tools depends on the nature of the carpet and the type of cleaning service chosen. Before hiring the services of professional cleaners, it makes sense to find out the kind of carpet cleaning your want and if the service provider has the right tools and equipment to perform the job successfully.

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5 Ways All Online Businesses Can Benefit From Local Marketing

Even if you have an international business, there are many ways that you can benefit from locally based marketing. Local marketing can also be a key to catapulting you to global markets if you know what you’re doing and why you’re doing it.

1. Vastly Improves Your Search Engine Rankings

Location-based marketing helps you get a higher search ranking because whenever anyone searches for you in that location, you’ll show up in some of the first pages of search. Even if people don’t type their location, the local businesses show up first for each search. This gives you a fantastic opportunity to attract your audience using local marketing.

2. It’s Inexpensive and Has a High ROI

Many aspects of local marketing are free. For example, putting up content that has location-based keywords, adding information to various platforms that include the right keywords for your location will improve your search results without spending a dime. Adding location-based information to advertisements will generate even more return.

3. Engage with Customers More

When you are more focused on the customer’s location, you can take advantage of some of the automatic trust you get by being focused on a location in your SEO and advertisements. You can use your actual location to get started, even if you want your business to be an international or national business. However, you don’t have to. You can focus on anyone’s location if you know you have an audience there.

4. Attract More Customers

Locally based marketing can help you attract new customers by placing the focus on one location at a time (you can do this simultaneously though) through your advertising and marketing methods. For example, if you know that you have a lot of clients in a region of Georgia in the USA focus your advertising and marketing there.

5. Become a Locally Renowned Expert

One fun and effective way to use local marketing to your benefit is to become a local expert. Start with your location or a major city near your location. Send out press releases, get interviews on local news stations, and submit articles in local publications. Then market each event that you do so that you soon become known as a local expert.

Local marketing can benefit any type of online business. It doesn’t matter if your business is only local or not. Of course, if your business is local, you’re going to benefit from local marketing even more. Ensuring that your business shows up in local search will attract more customers, ensure that you become more attractive yourself, and will enable you to become a local expert.

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Detailed Insight of Online Trading

Introduction:

Online trading has become very popular nowadays. Millions of people worldwide are engaged in this form of trading. It usually meant trading off stocks. It has become as common as doing shopping. There are three things that one needs to start doing this trading:

A device (mobile or computer)
A stable internet connection
A banking application
Enough funds and balance in a bank’s account

If someone has sound knowledge about the stock market and related formation, they can make amazing profits from it.

The functions of a broker:

An important part of online trading is a broker. He is someone who buys and sells things (assets) on behalf of others. Due to the advancement of technology, online brokerage has come into the picture. Online brokers are similar to normal brokers. They too buy and sell assets and do transactions between a buyer and a seller, but just on the internet.

A broker is an intermediary between the two individuals (buyers and sellers). A brokerage can be broadly classified into three types: Online brokerage, discount brokerage, and full-service brokerage. A discount brokerage usually helps to buy and sell assets but at a reduced commissioned rate. The third type is the full-service brokerage provides detailed information and assistance regarding online trading and the stock market, and everything else related to it. A broker has various functions to perform. Following is the list of functions of a broker explained in detail.

The primary function of a broker is to do something for an individual on his or her behalf on the financial side. It mostly includes buying and selling assets and looking after other transactions. There are other functions too, like providing information regarding trading.

Advantages of an online trading platform:

There are various advantages of this trading. It is usually simple and does not cost a lot of money. One has complete control over what they want to do on the platform. It is quick and convenient. Chances of errors are pretty less when it comes to online trading and using online trade apps. The user has the option to keep a check on the investment at all times. One of the most significant advantages of trading on online platforms is that users can get notifications regarding prices and other information via emails or messages. There are lots of trustworthy online trading platforms. Some of the popular ones are eToro, Upstox Pro, Zerodha KITE, Fidelity, and many more.

Some safety measures while doing trading:

One must not make a transaction using a public device or sitting in a cybercafé. One should log out every time after the job is done. Personal computers and mobile phones need to be secured from viruses by anti-virus software. Online trading can be very convenient, quick, and lucrative only if done properly, keeping in mind all the safety measures and being very careful during the transactions. Otherwise, one might end up losing a lot of money or funds in it.

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The Rise of Online Payment Gateways

The cashless payment system is growing exponentially with evolving payment methods, rising e-commerce use, enhanced broadband connectivity, and emergence of new technologies. Can increasing incidences of cyberattacks and spams hamper the growth of online payment market or will it continue to grow at a rapid rate?

The global digital payment industry is expected to hit the USD6.6 trillion mark in 2021, registering around a 40% jump in two years. The cashless payment methods are rapidly evolving with ground-breaking innovations such as mobile wallets, peer-to-peer (P2P) mobile payments, real-time payments, and cryptocurrencies. In the growing digital age, many payment technology companies are collaborating with traditional financial institutions to cater to the latest consumer and merchant preferences. Due to enhanced broadband connectivity, increasing mobile commerce, emergence of new technologies such as Virtual Reality, Artificial Intelligence, and rapid digitization, billions of people have started embracing contactless payments in both developed and emerging countries. Besides, surging e-commerce businesses, digital remittances, digital business payments, and mobile B2B payments are boosting the non-cash transaction ecosystem.

Cashless transaction method users across various generations are widely adopting the digital peer-to-peer (P2P) apps as they are more appealing and flexible to use. In-app payments or tap-and-go transactions take seconds at the checkout and allow users to make payments anytime and anywhere. Tokenization, encryption, Secure Sockets Layer (SSL), etc., offer multiple ways of securing payments while enabling digital transactions. Moreover, the users do not have to fill in information every time to complete the payment process. Thus, online payment gateways play a crucial role in the economic growth, enabling trade in the modern economy. With social distancing rules in place, digital payments have become an obligation for contactless transactions rather than just a transaction alternative to prevent the spread of coronavirus.

Digital Commerce Empowering Businesses
Electronic payment systems have become a crucial part of businesses as consumer inclination towards online shopping is expanding. With broadening internet penetration, increasing use of smartphones, and diverse options for e-transactions, most consumers are preferring online channels over traditional brick-and-mortar stores for shopping. Therefore, businesses are shifting online with an electronic payment solution to maximize their profit earnings. Automating the electronic payment system eliminates the scope of errors and saves a considerable amount of time and effort. High standards for detecting and preventing fraud in digital transaction systems and AI-based fraud detections protect users from security breaches. By providing the flexibility for making payments through credit/debit cards, mobile money, e-Wallet, etc., the businesses can expand their customer base. The electronic payment process improves customer satisfaction as customers do not need to count cash or deal with paperwork whenever they want to make the transaction.

Biometric Authentication Enhancing Security
Biometric authentication involves recognizing biometric features and structural characteristics to verify the identification of an individual. The verification method can involve fingerprint scanning, facial recognition, voice recognition, vein mapping, iris detection, and heartbeat analysis. With the rise in identity theft and fraud, biometric authentication has become a reliable and secure alternative for making digital transactions. According to a recent research, biometrically verified mobile commerce transactions are expected to constitute a massive 57% of the total biometric transaction by 2023. Biometric payment cards are also becoming popular as they support tap-and-go payments, allowing users to make faster digital transactions. The digital payment technology provider, Worldline is partnering up with the French FinTech, A3BC (Anything Anywhere Anytime Biometric Connection), to protect mobile phones from intrusion with a two-factor authentication process. The combined solution eliminates identification through a single touch, rather it recognizes fingerprints through a picture of the hand. MasterCard is planning to bring FinGo’s vein-scanning payment solution that facilitates users to authenticate transactions.

Dominance of Mobile Wallets
In 2019, mobile wallets overtook credit cards to become the highly adopted payment type globally. Digital wallets offer flexibility to users to store multiple payment methods in one digital home and turn cash into electronic money required for online or in-store purchases. Financial institutions have already started to embrace the digital wallet trend by offering virtual cards to business customers. The virtual cards stored in digital wallets consist of details like 16-digit card number, CVV code, date of expiry and work just like the physical plastic card. Currently, only 37% of merchants support mobile payments at the point of sale, but with the rising adoption, merchants are willing to invest in technologies facilitating digital wallets. The virtual wallets can save money due to low processing costs as they limit transaction values and frequency. Artificial Intelligence (AI) is improving the user experience with regards to transactions with ChatBots, designed to execute and robotize essential exchanges as per the user’s interest. Besides, cryptographic money-based e-wallets are being embraced by new companies to small-medium organizations for storing digital money. Smart voice technology is contributing to the growth of smart voice wallets ever since Amazon propelled the principle of this platform, which is now being followed by Google and Apple.

E-Commerce Boom Accelerating Digital Payment Market Growth
E-commerce growth at an exponential rate is creating shock waves, and the sonic boom is reverberating across the FinTech sector. The growth of many e-commerce companies is driven by the kind of financial services they provide. Digital transactions make it convenient for the buyer and seller to make transactions and remain loyal to the market space. The COVID-19 pandemic added a different dimension to e-commerce innovation, introducing newer trends such as payment alternatives at checkouts (not with digital wallets), virtual cards, QR codes, and other touchless transactions. Besides, the Buy Now Pay Later (BNPL) trend is dominating the e-commerce industry as it relieves the financial burden on the buyer. BNPL involves a soft credit check, so the consumers can buy what they need, keep the inventory moving, and pay overtime without affecting their credit score. BNPL provides businesses with much-needed liquidity and greater flexibility at the checkout.

Influence of COVID-19 Pandemic on Digital Payment Market Growth
Digital payment systems have moved beyond their peer-to-peer (P2P) transfers and bill payments. The COVID-19 pandemic allowed digital payment systems to showcase their strengths, such as a strong understanding of hyper-local markets and its ability to establish strong local partnerships. Businesses and consumers increasingly “went digital” for providing and purchasing goods and services online. When the pandemic hit, people did not want to touch or exchange cash due to the paranoia of catching the infection from physical currencies. Several governments around the world introduced digital financial transfers to provide COVID-assistance. Owing to lockdown measures, consumers shifted to online platforms, which catapulted the demand for digital payment systems. Now, digital platforms have become an essential component of people’s lives, and consumers are more likely to continue shopping online in the post-pandemic period. The dramatic shift in consumer behavior is likely to augment the demand for e-payment systems even more. Therefore, companies are focusing their attention on digital mediums to meet the new customer demands and thrive businesses in the changing market scenario. Organizations are reimagining customer journeys to reduce friction and provide new security features. Payment companies such as PayPal and Square Cash are staffing up across the board to better understand the rearrangement of societal norms and stabilize the business in the near future.

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