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    Blog Posts by Rosemarie Clancy

    • Mobile Payment Strategies for Today’s Small Business Owner

      By Rosemarie Clancy | Profit Minded – Thu, May 16, 2013 3:02 PM EDT

      Mobile Credit
      In order to pay bills and stave off creditors, many small business owners have traditionally used a line of credit or taken out a new card for their business while waiting for invoices to get paid. Nearly half of small business owners surveyed by Bank of America last year said not getting paid on time was their biggest challenge. But for many, that may soon be a thing of the past.

      More and more businesses are turning to an array of payment applications and technological devices that instantly convert sales into cash. They include Intuit GoPayments, PayPal Here, PaySimple, and Square Card Reader. The popularity of these new technologies is soaring as more and more small businesses embrace emerging mobile technology payment solutions.

      PaySimple, a Denver-based company that entered the marketplace in 2006, now counts 10,000 small businesses as customers. The company saw a 50 percent increase in users last year. Others, like Flint Mobile Inc., take photos of credit cards with an iPhone and

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    • Does the Credit Card Accountability Act Protect Small Business Owners?

      By Rosemarie Clancy | Profit Minded – Wed, Apr 3, 2013 5:44 PM EDT

      Credit Accountability

      It was hailed as the deathblow to unfair credit card practices. In 2009, President Barack Obama signed the Credit Card Accountability Act. The law contains several strong provisions aimed at protecting cardholders. But it doesn’t cover business owners using corporate cards.

      While the law may have been a victory for the consumer, it has it its critics including business owners who point out that the law does not apply to corporate cards. That is because the law is an amendment of the Truth in Lending Law and that applies only to consumer loans, not credit lines for businesses.

      The Act was designed to ensure that credit card companies do not take advantage of consumers through unfair rate hikes. Credit card companies may not charge additional fees for payments made over the phone or online; cannot charge inactivity fees if the card has not been used for months; and must include a minimum payment disclosure statement that clearly explains how long it will take you to pay off the balance

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