Archive for November, 2014

TranDotCom adds ArrowShade to its Gold Partner Team

Sunday, November 30th, 2014

>PRWEB.COM Newswire

KENNESAW, GA (PRWEB) November 21, 2014

TranDotCom (TDC) Solutions announces today that it has signed a Gold Partner agreement with ArrowShade out of Upper Lake, California.

ArrowShade provides marketing services and lead generation capabilities to the online lending marketplace from a unique perspective.

ArrowShade is the first information and marketing services supplier owned by a federally recognized Indian tribe. It offers TDC clients marketing services using sovereign-hosted technologies to drive traffic, generate leads and monetize data opportunities across various consumer markets. Arrowshade creates the opportunity for tribal lenders to participate in tribe-to-tribe economic development in e-commerce.

Over the last twelve to eighteen months, online tribal lenders have expressed a desire to participate in tribe-to-tribe economic development by using a tribally owned marketing and lead generation company, said TranDotCom President Chris Carson. The addition of ArrowShade to the market this year presents a real opportunity for tribally owned lenders and their investors.

We are thrilled to launch this partnership with TranDotCom, said Ron Symon, President of ArrowShade. We believe their historic footprint in the marketplace offers an unparalleled opportunity for online lenders to substantially benefit from our services. Through our organizations efforts, we believe stronger alignment of sovereign e-commerce opportunities means better sustainability for the industry as a whole.

We have a history with Ron and we know how he constructs service minded teams that have the best interests of the client in mind, said David McCullough, Director of Client Relations at TranDotCom. ArrowShade is interested in building mutually beneficial working relationships with not only tribally owned portfolios, but with all of our customers regardless of lending model. We look forward to working with the Ron and the ArrowShade team as we bring new marketing solutions to our customers.

Interested in learning more about ArrowShades services and how you can take advantage of the partnership? Contact TranDotCom toll free at 866-735-6862 or via email at sales(at)tdcemail(dot)com.

About TranDotCom Solutions, LLC

TranDotCom Solutions is a leader in automated consumer finance transaction processing, providing a full range of consulting, software, support and transaction processing services which allow lenders to be more competitive and highly efficient. TranDotCom Solutions understands and specializes in all of the components of consumer finance lending including payday advance and line-of-credit products. TranDotCom pioneered the industrys first web-based transaction management system and has been processing transactions since 2000, supporting storefront and online lenders in the United States, Canada, and the United Kingdom. TranDotCom may be reached at 866-735-6862 or sales(at)tdcemail(dot)com.

About ArrowShade

Pomo One Marketing Inc. dba ArrowShade is a tribally-owned, premier marketing services provider, offering consumer acquisition, secure data transmissions and lead optimization services to online advertisers; with a specialization in serving online tribal lenders. A proud member of the Native American Financial Services Association, ArrowShade maintains the mission of establishing a secure marketplace linking online lenders to potential customers across all e-commerce mediums. To learn more, contact 855-568-5924 or Leads(at)arrowshade(dot)com.

Read the full story at http://www.prweb.com/releases/tdcarrowshade/1114/prweb12343994.htm

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Decatur man charged with using false Social Security numbers at 4 payday …

Saturday, November 29th, 2014

DECATUR, Alabama – A Huntsville man was charged Friday with using someone elses Social Security number to get loans at four payday advance businesses, according to a police report.

Robert Foster Tweedy, 58, of 3104 Ivy Ave. was charged with three felony counts of second-degree theft by deception. He was being held in Morgan County Jail on $7,500 bond.

More charges are pending against Tweedy, the report said.

Tweedy was developed as a suspect after the four businesses reported a man obtained loans using a Social Security number that did not belong to him.

The incidents occurred on April 25 at Advance America and The Money Store, on July 25 at Approved Cash and on July 26 at Cash USA.

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Ways to get quick cash besides a payday loan

Saturday, November 29th, 2014

The holiday shopping season is coming up, and people in search of some quick spending capital
might strongly consider taking out a payday loan. Think about it — it’s a quick source of cash
without the need for the credit checks. It sounds too good to be true.

That’s because it is. More than 19 million people struggling with their finances take out one of
these unsecured personal loans each year without seeing the danger signs pointing to their
finances, such as insanely high, triple-digit interest rates.

Before funding your post-Black Friday Christmas shopping with a payday loan, consider some of
these simpler — and reasonably safer — ways to get some money fast.

o
Take out a payday-alternative loan: Yes, these actually exist. Veridian Credit
Union, for example, offers a payday-alternative loan with a maximum loan amount of $1,000 and a
six-month repayment term at an interest rate of about 20 percent (usually regardless of a borrower’s
credit score). While not the lowest interest rate, it’s more manageable than the high interest and
short repayment terms of a payday loan.

Another option is to consult with your bank or credit union about a small personal loan with
better security, terms and interest.

o
Get a cash advance from your credit card: Another similar, yet less-expensive
option, is to contact your credit-card carrier for a modest cash advance. Again, the interest rates
might not be the lowest, but this time, you’re borrowing against your own credit limit and not some
third-party payday provider.

If the cash-advance option seems too insurmountable to you, use your credit card for your
holiday shopping, and avoid using it again until you’ve paid down your balance.

o
Ask your employer for an advance: Your job might permit you a cash advance taken
from your next paycheck. It’s not a loan, so you won’t have to deal with interest or repayment
since it’s money that you have earned.

However, keep in mind that if you ask for, say, a $200 advance, you must be prepared for your
following paycheck to reflect that difference.

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PayPal Puts Holiday Cash In Merchant’s Wallets

Friday, November 28th, 2014

All merchants know the holiday shopping season is their bread and butter, but prepping for holidays brings along high product investment costs. PayPal and Square want make the loan process easier for its customers, Bloomberg reported.

For merchants already using PayPal to process payments, using the service for a cash loan may ease a burden quickly. Jeff Caruso, owner of Crisloid Products, told Bloomberg he was already using PayPal for that reason, so taking a $12,000 loan to get his merchandise set for the holidays was an easy move. The five percent flat fee and flexible terms allowed him to repay the loan using some of the sales instead of having a structured timeline like a bank loan.

“PayPal takes the scare factor out of borrowing,” Caruso said. There’s always hiccups when you’re growing.

This small-business trend of using PayPal and Square for loans is becoming a popular option around the holidays. In addition to aiding merchants financially, PayPal and Square can provide data as to what their customers need most out of their companies. PayPal’s merchant-lending began in September 2013; Square started in May of this year.

The companies have extended more than $275 million in financing to about 40,000 merchants over the past year, with demand for loans spiking when businesses need to build up inventory for the holidays. In the process, PayPal and Square are encroaching on the turf of banks and other lenders, Bloomberg reported. The companies make pre-screened loan and cash-advance offers to select merchants based on their sales histories.

As the mobile payments competition heats up, PayPal and Square work to stay relevant, particularly to its merchant base. They haven’t released figures about how much merchant-lending provides them, but David Goldin, president of the North American Merchant Advance Association, told Bloomberg that giving merchants cash advances is a $3 billion industry. In terms of fees, the cost of borrowing money is quite higher than the cost of processing transactions. PayPal’s loan fees are as high as 12 percent, whereas processing fees run around 2-3 percent. Square’s cash advances rage from 10-14 percent, and the cost per transaction is also between 2-3 percent. Merchants must also stick with the payment processor until the loan balance is paid off.

PayPal and Square say they are choosy about who receives credit, Bloomberg said. The requirement to continue processing payments with them until the balance is recouped minimizes risk, as well as the per-sale payment system, which decreases the chances a merchant skips a large monthly payment, they said. Merchants accepting the cash say they get the money more quickly than from a bank and like how they don’t get slammed with a big bill once a month. In exchange, they pay a fee that can translate to annual percentage rates associated with high-interest credit cards and pay-day lenders.

The only hitch for Square and PayPal could be the logistics of collecting the money back, Goldin told Bloomberg. Although PayPal and Square have been able to build the loan concept because of existing merchant relationships, not knowing how to collect the loan presents problems for the payment processing companies.

“Anyone can fund $50 million a month,” Goldin said. “Collecting that back is a whole different story. This is unsecured working capital to high-risk merchants. They haven’t done this before.”

As for the risks for merchants, Square and PayPal believe the flexibility and convenience of securing the loans outweigh the risks, according to the article. This is because merchants are able to repay the debt from sales and have access to capital at the same time. PayPal’s loan amount is now $60,000 to appeal to bigger businesses, up from the $20,000 limit last year. Building inventory is one reason eBay thinks the PayPal option is good for Merchants.

“We have a lot of small and medium-sized businesses that struggle to get working capital to build inventory,” eBay Chief Executive Officer John Donahoe told Bloomberg. “We have all of their transaction history, so that enables us to confidently underwrite them.

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topcreditcardprocessors.com Releases Recommendations of 30 Best Merchant …

Thursday, November 27th, 2014

NAPLES, FL–(Marketwired – November 13, 2014) – The independent authority on payment processors, topcreditcardprocessors.com, has named their ratings of the 30 top merchant cash advance companies in the payment processing industry for the month of November 2014. Each year thousands of payment processing companies are put to the test by an independent research team dedicated to identifying remarkable vendors. The ratings are divided based on the type of solution being provided.

The 30 best merchant cash advance services for November 2014 are:

1. Micamp Merchant Solutions

2. Fidelity Advance, LLC

3. CAN Capital

4. Credit Card Processing Specialists

5. Rafter J Funding Services

6. GDpay

7. BC Funding

8. Swift Financial Corp.

9. ICBA Bancard

10. Merchants Choice Payment Solutions

11. CPN USA

12. Rapid Capital Funding

13. Reliant Services Group

14. AmeriMerchant

15. Direct Capital Corporation

16. CardSmart Merchant Services

17. Merchant Choice Card Services

18. Advanced Merchant Services

19. POS Alliance

20. Everest Merchant Services

21. Yellowstone Capital

22. Advance Funds Network

23. Vantage Card Services

24. DCC Merchant Services USA

25. Solupay

26. Cash Advance Exchange

27. Myposdepot.com

28. CardPayment Solutions

29. EMerchantPay Corporation

30. Payment Systems

While many merchant cash advance firms are considered for the in-depth evaluation process each month only the top firms are featured in the rankings. The rankings are revised each month in order to account for the latest developments and achievements of competing firms in areas most commonly associated with exceptional results. The five areas of evaluation used to determine the best firms include customer support, efficiency, reliability, availability, and competitive rates.

ABOUT topcreditcardprocessors.com

topcreditcardprocessors.com is a producer of credit card processing information. The main purpose of topcreditcardprocessors.com is to establish and release those individuals or agencies supplying best credit card processing solutions available. Merchant cash advance agencies are put through a meticulous analysis to ensure the recommendations contain the absolute best agencies the credit card processing industry has to offer.

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Cash Advance clerk’s killer sought 1 year later

Thursday, November 27th, 2014

JUST BEYOND — BE ON ALERT. CHAUNCY GLOVER REPORTING LIVE. DEVIN? WHO IS THIS MAN? IT IS NOW A YEAR SINCE HE WALKED INTO A TAYLOR CASH ADVANCE BUSINESS, MURDERED A MOTHER OF TWO WALKED AND OUT THE DOOR. AND BRING IN MARA MACDONALD WHO IS LIVE IN TAYLOR. AND MARA THERE IS A SIGNIFICANT AMOUNT OF MONEY ON THE LINE FOR WHOEVER CAN IDENTIFY HIM? DEVIN, THERE IS. $35,000 BEING OFFERED BY ADVANCE AMERICA. THIS IS WHERE CHELSEA SMALL WORKED FOR ADVANCE AMERICA. YOU WILL NOTICE THAT IT IS NO LONGER UP AND RUNNING BECAUSE THE COMPANY OUT OF RESPECT FOR HER, NEVER REOPENED THIS BRANCH. HE WALKED INTO THE ADVANCE AMERICA, A LITTLE PAST NOON LAST YEAR, DID NOT HESITATE TO GUN DOWN 32-YEAR-OLD CHELSEA SMALL AND GRABBED WHAT MONEY HE COULD. WALK OUT THE DOOR AND HASNT BEEN IDd SINCE. AM I IN A HURRY? TO FIND HIM? NO. I WANT TO FIND HIM. NOT GOING TO CHANGE. IT WONT BRING HER BACK. SO I WANT THE POLICE DEPARTMENT, TO DO EVERY STEP THEY NEED TO DO AND CORRECT WAY, HOWEVER IT NEEDS TO BE DONE. I FULLY SUPPORT TAYLOR, DO WHAT YOU HAVE TO DO. BECAUSE I KNOW IT WILL HAPPEN. CHELSEAS MOM DEBBY HAS BEEN HOLDING IT TOGETHER FOR A YEAR. ESPECIALLY FOR HER DAUGHTERS TWO YOUNG SONS. A HARD YEAR. SOMETIMES DAYS SPEED BY, OTHER TIMES THEY DRAG WITH A HEAVY WEIGHT. DEBBY CANNOT STAND TO WATCH CRIME DRAMAS ON TV ANY MORE, THEY ARE ALL TOO REAL WHEN YOUR OWN LIFE IS A CRIME DRAMA. TOMORROW A CANDLE LIGHT VIGIL FOR HER DAUGHTER. THAT NEVER IS REALLY THAT FAR AWAY IN HER MOTHERS MIND. WHEN I SET THANKSGIVING DINNER I SET AN EXTRA PLATE. WHEN GIRLS ARE ALTOGETHER, AND WE ARE CELEBRATING. SHE IS INCLUDED. AND IT IS ALWAYS UNTIL WE MEET AGAIN NEVER GOOD-BYE. BACK HERE LIVE. THAT CANDLE LIGHT VIGIL TOMORROW NIGHT PARKING LOT IN FRONT OF THE ADVANCE AMERICA. IF YOU KNOW WHO THIS MAN IS, AND YOU COULD QUALIFY FOR THAT $35,000 REWARD. ALL YOU HAVE TO DO IS CALL THE TAYLOR PD. WE ARE LIVE IN TAYLOR, MARA MACDONALD, LOCAL 4.

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topcreditcardprocessors.com Selects Rafter J Funding as the Fifth Top Merchant …

Wednesday, November 26th, 2014

NAPLES, FL–(Marketwired – November 12, 2014) – The independent authority on payment processors, topcreditcardprocessors.com, has named Rafter J Funding the 5th best merchant cash advance service for the month of November 2014. Rafter J Funding was chosen based on their effective performance in an in-depth analysis of the solutions they offer. While there are thousands of services offering a variety of solutions, the ratings consist of the best featured based on the results of the in-depth evaluation process.

These agencies are researched through a meticulous evaluation process to identify which agencies to highlight in the recommendations. While there are thousands of merchant cash advance agencies, the recommendations are compiled of the absolute best the payment processing industry has to offer. The independent research team reviews the competing agencies across five areas of evaluation in order to identify their overall level of competency in areas including reliability, availability, customer support, competitive rates, and efficiency.

In order to obtain a more in-depth picture of the company, the topcreditcardprocessors.com research team also connects with client references. Competing companies provide at least three client references to give the research team the opportunity to obtain insight directly from buyers. In some cases clients contact topcreditcardprocessors.com directly to voice their opinions.

Rafter J Funding has been awarded the rank of fifth best merchant cash advance firm in the monthly rankings at topcreditcardprocessors.com due to their exceptional client satisfaction, their comparative performance over previous months, and their dedication towards excellence. It is due to this information that topcreditcardprocessors.com suggests clients of credit card processing solutions consider Rafter J Funding.

About Rafter J Funding Services

Rafter J Funding is deeply devoted to bringing honesty and ethical standards back into the business relationship. At one time, a handshake really mattered in doing business. Rafter J Funding still believes in those values and pledges honesty and integrity in every transaction.

About topcreditcardprocessors.com

topcreditcardprocessors.com is an established independent research firm focusing on the analysis and recommendations of credit card processing services all around the world. The recommendations are created by the independent research team each month to showcase the best merchant cash advance services based on their performance and their rating achieved through the proprietary analysis process.

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Tiger Global used shell company to short sell Quindell

Wednesday, November 26th, 2014

Qamp;A on short selling

Dan McCrum and Miles Johnson explain how betting against a security works, with an eye on Tiger Global.

What is short selling?
Simply put, it is placing bets that the price of a security, commonly a stock, will fall.

How do you short?

Let’s say a hedge fund wants to sell short Vodafone. The trader borrows stock in the telecoms operator from someone who owns it, a pension fund for example, and sells it in the market. The hedge fund then hopes that the Vodafone share price will fall before they must buy back the stock and deliver replacement shares to the original owner, pocketing the difference.

Derivatives, such as options or contracts for difference, could also be used to place bets that the Vodafone share price will fall.

Why would a pension fund lend its stock to a short seller?

The short seller must pay any dividends due, and also pays a fee for borrowing the stock, like interest on a cash loan. Such lending is a way for long-term investors, as well as managers of index funds and exchange traded funds, to earn additional income. Fees can be steep when there is little stock available to borrow.

The prime broking divisions of banks are at the heart of the process. They find stock for hedge funds to borrow, lend them securities to trade with, and help structure options trades.

What are the risks?

Getting the bet wrong can be expensive if the shares move in the wrong direction. A short squeeze occurs when many short sellers want to close out losing trades at once, pushing up the price as they are forced to buy. In 2008 VW was briefly the most valuable company in the world after Porsche disclosed that it had acquired 74 per cent of the voting stock of its fellow carmaker, causing short sellers to scramble to cover their positions.

What is short interest?

It is the amount of stock that has been borrowed to sell short, normally expressed as a percentage of the company’s market capitalisation. Another key number to watch is the proportion of stock available to borrow that has been taken up.

When do short positions have to be disclosed?

Under European Union rules enacted after the financial crisis, investors must inform national regulators when they amass a net short position worth more than 0.2 per cent of a company. If the position exceeds 0.5 per cent, the regulator then makes the information public.

Why would short sellers want to be anonymous?

Some hedge funds prize secrecy for its own sake, and prominent short sellers are an easy target for managers of a company under pressure. There are also commercial reasons to avoid disclosure. Disclosure by a well known investor of a short position will attract attention, which could make it harder to borrow the shares needed to establish a large short position as others try to do the same. The cost of borrowing the shares also rises when many investors want to make the same bet.

How did Tiger Global keep its identity hidden?

Tiger Global used companies registered in the Cayman Islands to make its short selling trades in Europe, a practice that is permitted by European regulation but that allowed it to work anonymously. When the hedge fund built up a short position above the declarable threshold only the name of the Cayman shell company was made public, not the name of the beneficial entity behind the trade.

——————————————-

Letter in response to this article:

Why did regulators not use Cayman law to identify short seller? / From Avinash Persaud

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Can You Pay a Credit Card With a Credit Card?

Tuesday, November 25th, 2014

Tight on cash and worried about how you’ll make your credit card payment this month? Waiting fora commission check, tax refund or insurance settlement so you can pay off bills? Or are you trying to use your credit card to pay for as much as possible so you can earn reward points or cash back?

If any of these scenarios apply to you, you may be wondering if you can use one of your credit cards to pay another credit card bill.

Unfortunately, none of the major card issuers we queried will let you pay your bill directly by credit card. It’s not surprising, though. If your card issuer accepted another credit card for payment, it would have to pay the merchant fee –which could be 2% to2.5% or more of the payment amount. That means, essentially, they wouldn’t get the full payment from you.

In addition, there may be restrictions on this practice imposed by the card associations. Andrew Gerlt, Director, Global Brand Product Communications for Visa noted in an email that, “Visa rules do not allow the payment of credit card debt with a credit card. We do allow for debt repayment with a debit card, however.”

If you really need to “charge” your next payment, there are workarounds. In fact, there are three — but they all come at a cost.

Get a Cash Advance

As long as you have enough available credit, you should be able to use your credit card to get a cash advance, and then you can use that money to pay another credit card bill. You can obtain a cash advance at most banks or credit unions, or at an ATM if you have a PIN for your card. The problem with this approach is that the interest rate on cash advances is often at a higher rate than purchases, and interest accrues right away. That means that even if you pay off that cash advance by the due date, interest will be charged. Always double-check the interest rate before you take this approach.

The RPTPP Method

If cash flow is the reason you want to use a credit card to pay another credit card, then there’s another way to accomplish this goal: the “Rob Peter to Pay Paul” method. Use your credit card for everyday spending in order to free up as much cash as you can to pay your credit card bill. It’s not ideal, or even recommended, but it can be an option in a cash crunch.

Transfer Your Balance

If one of your card issuers offers a balance transfer you can use that to pay down or pay off your other card. If you have already received convenience checks in the mail, you can use one of those to make a payment on another card (you can’t use a convenience check to make a payment on the same account, though). Or you can deposit that check into your checking account then use those funds to make a payment. If you haven’t received one of these offers in the mail, check with your card issuer online or by phone to see if you are eligible.

If your credit scores are strong, you may be eligible for a low-rate balance transfer card. Just keep in mind that these offers almost always charge fees ranging from 2%to4% of the amount transferred. It’s hard to find a credit card that offers a 0% balance transfer with no fee, but they do exist.

Of the three methods mentioned here, this one is the best. A low-rate balance transfer offer can be a smart way to lower your interest rate while you pay off debt. Use a credit card payoffcalculator like this oneto compare the time it will take you to pay off debt with different interest rates.

Proceed With Caution

None of these approaches will help you earn reward points, so that option is likely off the table. And if your cash flow problems are anything but truly temporary, these methods may simply help you dig a deeper hole.

In addition, simply moving your debt around may not help your credit scores in the long run. Debt is one of the main factors most scoring models consider when calculating credit scores. If your debt is bringing down your scores (you can find out if that’s the case by getting your credit scores for free at Credit.com), then paying it down is one of the best ways to build stronger credit.

More from Credit.com

  • The Easiest Credit Cards to Get
  • Tips for Paying Off Credit Card Debt
  • A Simple Checklist to Get Out of Debt

Gerri Detweiler is Credit.coms Director of Consumer Education. She focuses on helping people understand their credit and debt, and writes about those issues, as well as financial legislation, budgeting, debt recovery and savings strategies. She is also the co-author of Debt Collection Answers: How to Use Debt Collection Laws to Protect Your Rights, and Reduce Stress: Real-Life Solutions for Solving Your Credit Crisis as well as host of TalkCreditRadio.com.

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Cleveland Heights lifts payday loan moratorium, pushes state to keep interest …

Tuesday, November 25th, 2014

A customer enters a Payroll Advance location in Cincinnati in this 2008 photo. Cleveland Heights is lifting a moratorium on new businesses that issue payday loans without a license under the state’s Short-Term Loan Act, which caps interest limits at 28 percent.

(AP file photo)
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