Author: Arash Singh

A new edition of Amazon’s smart glasses are available to the general public, according to a company announcement. 

Amazon has advanced from the Day 1 Editions of the smart glasses in addition to no longer requiring invitations from interested consumers. Alongside this update, the company ended its production and sales in terms of its Echo Loop smart ring because it will no longer move beyond the Day 1 Editions program.

“We learned a lot about how customers want to use Alexa for short, snackable content throughout the day, and we will take that with us as we continue to invent new customer experiences,” the company stated. “Customers who purchased Echo Loop will continue to receive updates and support, and can use their devices as they do today.”

In terms of the new Echo Frames, they are available in new colours and have a longer battery life. The available colours include classic black, modern tortoise, and horizon blue. Meanwhile, the battery can last up to 40% longer. A new feature that turns off the glasses also helps with conserving battery life. Interacting with Amazon Alexa on a daily basis is now easier with the improved glasses as well. 

As for audio quality, the product offers improved sound quality when compared to the previous version of it. Thanks to audio technology, one’s music and Alexa’s voice is more clear. Volume has improvements, too. Depending on the user’s environment, the volume can be automatically adjusted to suit one’s needs. For instance, if a user is located in a quieter environment, the volume becomes lowered.  

It should be noted that the Echo Frames VIP Filter still exists as well. This feature lets users select their preferred applications and contacts. “We’ve added support for calendars and group messaging, further enabling you to keep your phone in your pocket without worrying about missing an important update,” Amazon added. 

The cost for a pair of Echo Frames is $249.99. They are also scheduled to start shipping on Dec. 10. Customers who bought the Day 1 Editions are being offered upgraded Echo Frames for $70. 

In order to remain competitive and improve customer retention, companies should always stay up-to-date with the latest consumer needs and behaviors. Whether that would involve the improvement of an existing product or the creation of new features, what a business decides to do may affect future revenue streams and profit margins. 

PayFrame is here to provide support to business leaders who wish to take advantage of modern technological innovations and consumer trends to the future. This is done through offering stakeholders the best payment processing rates available. 
To receive more information, contact an experienced PayFrame expert at either 1-888-668-0733 or info[at]merchantbroker.com.

Nulisec, a Czech company, has launched a new online marketplace that will contribute to a digital shift for retailers, according to a recent announcement. 

The business-to-business (B2B) marketplace startup will be making use of the technological innovations in the B2B ecommerce sphere. Additionally, the company aims to help solve the issues that prevent businesses from succeeding in Europe. 

“We believe people should be able to participate in online trade regardless of where they are, the language they speak or their age,” the official Nulisec website stated. 

The launch arrives in the context of the worldwide coronavirus (COVID-19) pandemic, which has made it essential for stakeholders in procurement and sales to find and use effective tools that could keep up with the fast-paced consumer goods sector. 

According to the announcement, Nulisec’s solution consists of two key parts. The first pertains to a storefront and marketplace with various tools. The storefront is free to create and allows sellers to showcase both their brand and products. 

“They can make themselves visible to potential buyers who are not only looking for new suppliers but also new goods to expand their product offering,” Lukas Pham, the CEO and co-founder of Nulisec, said. He added how the storefront would be useful for businesses that have not been historically invested in online B2B marketing.

As for the second key componentof Nulisec’s solution, it pertains to allowing sellers to submit their products to buyers. Retailers can both market and sell directly to businesses that indicate a desire to expand when it comes to the types of products. Pham noted how the solution is essentially giving sales organizations a means to modernize their outreach strategy. 

“On the one hand, Nulisec increases top-line revenue for sellers by giving them a wholesale portal with which their customers can directly place orders, this is not only novel in the Czech market but also very much needed since most online portals are only directories,” he added. 

On the other hand, the solution helps individuals increase their deal flow. This would be especially true for those who work in purchasing departments. Brands can become more easily discovered through Nulisec while informing purchasing teams about their storefronts.

In an interview with PYMNTS, Pham noted how an online marketplace can address pain points. “At the moment, retailers are hostages of their local suppliers,” he said “Life is hard for boutique retailers and [small- to medium-sized businesses (SMBs)] without an online wholesale marketplace.”

As the B2B landscape continues to shift, it is imperative that companies adapt to new changes while implementing the right strategies that will lead to success. PayFrame is here to provide solutions involving to the best payment processing rates when it comes to online transactions and other ecommerce activities. 

To receive more information, contact a PayFrame expert at either 1-888-668-0733 or info[at]merchantbroker.com.

According to new information from Payments Canada’s annual report, innovations and evolving technologies continue to change the way consumers and businesses make their payments. The report for 2020 encompassed an analysis of 22 billion payment transactions that were made in 2019. 

In a press release, it was noted that Canadians wanted to pursue more convenient, secure, and faster payment experiences as well. Methods and channels for such transactions to occur involved contactless technology, wearables, ecommerce, as well as payments that can be made within applications.  

“We continue to see a widespread shift away from paper-based payments, cheques and cash, as Canadians increasingly demonstrate preference for faster, easier and more secure payment experiences,” Tracey Black, the president and chief executive officer (CEO) of Payments Canada, said. 

Black added how such a migration to digital payments was a trend that had been observed for a number of years. The worldwide coronavirus (COVID-19) pandemic also played a significant role in the acceleration of such a shift. 

“More than ever, we are seeing that Canadians’ payment preferences can be impacted by available payment options, for example, contactless payment,” Black added. “Innovation will continue to evolve consumer and business expectations regarding payment flexibility and efficiency.”

In terms of the Payments Canada’s study on payment trends amid COVID-19, it was found that 75% of Canadians said they spent less as they stayed in their homes in the first weeks of the pandemic. 

Meanwhile, contactless payment methods continued to increase in popularity. It was noted that in the early months of the pandemic, 40% of Canadians stated they avoided shopping at locations that did not have touchless payment options. Moreover, there was an accelerated decline in the use of cash while ecommerce transactions were expected to rise. 

Cyrielle Chiron, the head of research and strategic foresight at Payments Canada, also shared insights on the impact of the pandemic on Candian payment trends. According to Chiron, the future payments landscape would keep evolving dramatically and be driven by consumer demands, changing competitive dynamics, as well as new technologies. 

As the payments landscape continues to change amid the worldwide pandemic, businesses must stay up-to-date with the latest developments in terms of technological innovations and consumer needs. PayFrame is here to provide that support to businesses in terms of payment processing solutions. 

To receive more information and take your company to the next level and to the future, contact a professional at PayFrame today at either 1-888-668-0733 or info[at]merchantbroker.com.

What is the current state of payments, and how has technology changed it along with consumer behaviours?

According to a PYMNTS interview, there has been some tailwind in terms of the “digitization of commercial payments.” Compared to the past, it is now easier than ever to use virtual cards in order to quickly complete purchases. Additionally, with the rise of banks such as Monzo, both peer-to-peer (P2P) payments allow individuals to transfer funds instantly via mobile devices. 

On the flipside, the traditional methods and processes that are paper-based are seen as more inefficient. This is especially the case in the context of the worldwide coronavirus (COVID-19) pandemic due to the need to uphold social distancing measures and decrease as much purchasing-related contact with others as possible. The “new normal,” which consists of work-from-home business policies and contactless payment methods, also helps highlight changing consumer needs and behaviours. 

According to Stuart Davenport, the chief innovations officer at Conferma Pay, mobile technology can be now advantageous to businesses. This can be done through allowing employees to request cards from managers. Managers can then get notified through their mobile devices and get the option either to approve or disapprove requests. 

Davenport added that such virtual cards would help in the reduction of fraud and the use of plastic. “It’s often also incremental spend because virtual cards can be used in different ways,” he said. These cards can also enable the transmission of data with payments. Token may be part of such a process as well. 

In terms of individuals who are mainly working from home, getting access to physical means of payments in the form of cheques can be an inefficient process. Solutions like Conferma, for example, can be useful in helping businesses, as the company works with commercial card issuers to allow for extra features and products.

As technology and the worldwide pandemic continue to influence consumer behaviours, it is integral for businesses to keep up with the times in order to retamin ahead of their competitors. PayFrame is here to support business owners in their endeavours by offering them the best payment processing rates. 
To receive more information, don’t hesitate to contact an expert at either 1-888-668-0733 or info[at]merchantbroker.com

Recently, Google Pay added 89 more U.S. banks to its payment services. The addition contributed to the trend of supporting more financial institutions across the country, according to a report by TalkAndroid. 

Moreover, with 89 banks added to the roster, the total number of institutions now supported by Google Pay amounted to approximately 3,000. This also made Google Pay one of the most broadly supported services in terms of mobile payments. 

According to the report, parties with Google Pay already had the advantage of being able to use it with major card companies and financial institutions. This included the likes of Capital One, Wells Fargo, and other major banking establishments.  

It was noted that such an update was also aimed at local credit unions and smaller institutions such as local banks. This leveled out the playing field, according to TalkAndroid.  

In a PYMNTS report, it was found that one of the added financial institutions pertained to Klarna. The Swedish “buy now, pay later” company arrived with merchants that included rue21, Sephora, and Journeys. 

“We’re focused on providing all of our users with a seamless, contactless shopping experience as stores reopen and the pandemic continues to affect communities across the nation,” David Sykes, the head of U.S. at Klarna, said in an August 2020 statement.

Earlier this year, the company added Apple Pay to its roster, according to PYMNTS. Such an addition led to strong returns and increase of 310% in terms of some order volumes. 

As technology continues to have an impact on consumer behaviours and business operations, it is important for merchants to stay in-the-know of the latest offerings and market trends. PayFrame is here to provide businesses with the payment processing solutions they need in order to remain innovative ahead of the competition. 
To receive more information about what PayFrame has to offer, contact a professional representative at either 1-888-668-0733 or info[at]merchantbroker.com.

Whether specializing in sweet treats or savory meals, many restaurant businesses amid the worldwide coronavirus (COVID-19) pandemic have adapted to new technologies to better serve their customers.  

The use of contactless technologies have especially seen an increase in popularity due to the nature of it helping mitigate the spread of COVID-19. For instance, instead of requiring customers to visit in-store locations, restaurant business owners have opted into using mobile applications such as Uber Eats, Skip the Dishes, and DoorDash in order to make the checkout process safer. 

Additionally, in terms of quick-service restaurants (QSRs) like that of a bakery chain known as Sprinkles, they have also contributed to the move toward more contactless payment methods and delivery services. 

In an interview with PYMNTS, it was noted that Sprinkles had been well-prepared for the increase in online orders, payments, as well as pickup and delivery services. 

Sprinkles was able to quickly adapt to the new norm while maintaining their customer base because the company already adopted online orders about 10 years ago. The bakery chains said that it was for the sake of catering and custom cakes. 

Daniel Legh-Page, the Sprinkles’ vice president of technology, told PYMNTS that the digital aspect of the business made up for approximately 25% of the chain’s ordering volume. Moreover, this was noted to be the case before the worldwide pandemic. 

The ordering experience, however, was not customized to accommodate requests that pertained to picking up only a couple of cupcakes in 20 minutes, Legh-Page added.

Despite this, the business created other means of drawing in customers. In 2012, Sprinkles introduced the world to a cupcake ATM where customers could select up to four cupcakes in a variety of flavours such as red velvet and vanilla milk chocolate. 

Legh-Page acknowledged that although the novelty of the cupcake ATM had been flattening, the advent of the pandemic in March 2020 resulted in a doubling of cupcake ATM sales. 

“As our doors closed but we remained open, the ATMs filled the big void for guests [who] would typically walk into the bakery,” Legh-Page said in the interview. 

As a business, it is important to have strategies in place that would help meet unforeseen challenges. Sprinkles is one example of such a business that used innovative technologies to move its business forward amid the pandemic, however, it will not be the last to do so. 

PayFrame is here to provide the support business owners require in order to maintain and grow its customer base. To get the best payment processing rates along with the latest in terms of technological innovations, contact PayFrame at 1-888-668-0733. A skilled representative may also be reached via email at info[at]merchantbroker.com.

According to a recent report by The Financial Times, Apple is increasing its efforts in developing its own search engine for iPhones. This could be a viable alternative to Google’s search engine. 

The report noted that users with iOS 14 on their iPhones get shown Apple’s own search results as opposed to Google’s own. The new software update also includes suggestions for users who wish to auto-complete their queries. This indicates that the technology is learning the most common searches from its users. 

Such a new search capability also calls attention to advances to Apple in terms of in-house development, according to the report. The report then noted that approximately two and half years ago, the Silicon Valley company poached John Giannandrea, who was the head of search at Google. 

As for in-house search capability, the report noted that urgency was added to the initiative due to a case that was launched in October 2020 by the U.S. Department of Justice. 

The case pertained to Google’s payments to Apple in terms of having Google be the default search engine tool for iPhones. The U.S. Department of Justice cited “public estimates” indicating that such payments to Apple were between $8 billion and $12 billion per year. 

Additionally, according to The Financial Times, marketing experts noticed increased activity from Applebot. Applebot is a web crawler that is used to create search engines via a database of online material. 

In recent years, the Silicon Valley company has hired numerous search experts. In addition to Giannandrea, advertisements for Apple positions have been posted frequently. 

Technology is always helping companies gain advantages over their competitors. The same philosophy applies to merchants who wish to take their businesses to the future. PayFrame is here to provide that support through the best payment processing rates and solutions. For more information, contact a representative at either 1-888-668-0733 or info[at]merchantbroker.com.

Google and Skipify have teamed up to allow users to shop and make purchases inside of the emails. The Shoppable Email program enables Gmail account owners to use a shopping cart inside their digital messages. Real-time information about different products can also be seen by consumers.

According to the announcement, merchants who are participating in the new Shoppable Email program experienced a 30+% increase in revenue via email. This is in tandem with decreasing the rate of unsubscribers by 50%. 

The program arrives amid the worldwide coronavirus (COVID-19) pandemic, which has caused online revenue to skyrocket. The announcement also noted that emails have historically been the highest return on investment (ROI) marketing channel and now it has never been more crucial for brand strategies. 

Merchants who wish to participate in the Shoppable Email program can head on over to the official Skipify email page. The website requires interested business owners to fill out a form that encompasses their full name, website, email address, phone number, and company name. 

In most cases, merchants can join the new program without the need to change their email provider. Moreover, there is no email coding required of them. Skipify would work with participants to allow access to the email program while maintaining the shopping feature of their messages within Gmail. 

Ryth Martin, the CEO and founder of Skipify, said the company is thrilled to be working with the Gmail team in order to bring shopping into consumer inboxes for the first time ever. “We are in the very early stages of a shift to unlock commerce and payments within and across channels. Skipify is here to help brands drive and capitalize on that shift,” Martin added.

Both Skipify and Google hosted a free-of-charge event on Oct. 26 where attendees had the opportunity to learn more about the new program. Those who were unable to attend the event received a recording of it via email. 

As technology continues to change the way consumers make their purchases, merchants must stay up-to-date with new innovations that will bring their businesses to the future. With the help of cutting-edge technology and a team of professionals who are experts at payment processing solutions, business leaders can take their companies to the next level. 
PayFrame is here to help pave the way for both innovation and success through effective payment processing solutions that yield tangible results. To receive more information, contact a representative at either 1-888-668-0733 or info[at]merchantbroker.com.

The worldwide coronavirus (COVID-19) pandemic has encouraged consumers to look for contactless payment options. According to a PYMNTS report, along with this trend arrives an increase in donations to charities and an uptick in comfort in terms of peer-to-peer (P2P) payment platforms. 

Silvana Hernandez, who is the senior vice president of digital payments at Mastercard, also informed PYMNTS that although there wasn’t a way to prepare for the pandemic, there were nonetheless existing payments infrastructure in place to support consumers. 

“Since the beginning of COVID-19, we have been seeing P2P services and platforms growing in terms of adoption and usage, and I think it’s mainly because of two factors,” she added.

Hernandez also noted the significance of how consumers have been viewing payments being made in cash. The transmissions of COVID-19, in the mind of some consumers, can be attributed to the handling of cash.  

Another reason for the decrease in cash payments is the fact that consumers are simply not leaving their homes due to social distancing measures and to protect themselves from COVID-19. Of course, this led to a lack of face-to-face interactions. Hernandez added how many individuals now shop, work, and attend school through digital means as well. 

“Everything is moving to digital, including the way we interact with each other — and also the way we pay each other,” she said.

In terms of charitable contributions, they also play a role in increasing the uses of P2P services, according to Hernandez. Participating in either donations or support initiatives among individuals who may be facing challenging times themselves contribute to the use of P2P. 

Alongside this trend is the transition to technological innovations. It is expected that individuals will always find ways to support, interact, and connect with each other through new ways of utilizing P2P services. 

PayFrame is here to provide support to businesses through innovative payment processing solutions amid the COVID-19 pandemic and beyond. Finding the best-suited solutions may be a challenge; especially in a shifting payments ecosystem, however, experts at PayFrame are ready to work closely with stakeholders in order to help them meet their revenue goals, increase their profit margins, and improve customer retention rates. 
For more information, call 1-888-668-0733. PayFrame may also be reached via email at info[at]merchantbroker.com.

The worldwide coronavirus (COVID-19) pandemic has brought upon unprecedented disruptions across various industries. The effects pertain to how businesses now operate, how technological innovations are becoming more and more crucial to public health and safety, as well as how executives in finance are driving more value than even in terms of strategies for sustainable growth. 

According to a recently published report by Accenture, it was found that chief financial officers (CFOs) within companies have been reinventing themselves to reach these goals. The study also uncovered different trends and challenges related to the new norm, as well as provided what some of the best practices would be moving forward. 

In terms of how the financial duties of CFOs evolved, it encompassed three main themes. The first theme pertained to the digitization of finance along with harnessing the power of data. An increasing focus on value creation through digital means have allowed CFOs to improve upon their strategies. Additionally, valuable insights can be gathered via data analysis. 

Another theme pertained to becoming leaders of digitization efforts. The findings noted that CFOs play an important role in terms of moving businesses to the future. By developing data capabilities, these individuals can then make informed decisions in terms of investing in technology based on economic value. The study also said that this, in turn, would empower CFOs to gain access to even more useful information. 

As for the third theme, it was noted that CFOs must make changes in terms of their talent development and hiring criteria in order for the next generation of leaders to update and expand upon the current requirements of the role. Skill gaps, for example, should be properly addressed in order for future CFOs to gain the expertise required in order to help support business functions at an optimal level. 

The report also addressed a significant shift towards automation as such an innovation not only reduces costs, but also improves productivity levels and allows workers to drive profits through critical thinking skills. 

Christopher Weber, the EVP and CFO at Halliburton, for example, created a plan to use automation for transactional activities that get pushed into his business’ service centres. “This will free up time for our people to be more focused on higher value work such as analysis and trendspotting,” he said. 

Additionally, the report found that 81% of CFOs saw that looking into areas of new value across companies as a main responsibility. Meanwhile, 77% of those surveyed said contributing to business-wide transformation is also part of their duty. With such findings and statistics in mind, businesses of all sizes, along with their CFOs, should consider investing time in areas that will drive transformation and long-term value. Strategic planning, analytics, and technological innovations are must-haves for companies that wish to continue succeeding in the future.

PayFrame is here to provide support in terms of innovative payment processing solutions that not only improve profit margins, but ensures that customer needs are met with a high level of satisfaction. To receive more information, contact an expert at either  1-888-668-0733 or info[at]merchantbroker.com.