However, while a considerable number of online shoppers are seen to buy things online, a much greater number than that have complained about pages to be too small to access in mobile screens. This calls for immediate action by every retailer to make their store mobile-responsive irrespective of the platform used to build them. Luckily, if your store is built with Magento, things are quite easy as many expert Magento developers have prompted effective practices to make site mobile ready. Catch up here some of them.

Update your store with the latest version

Magento Commerce aims to provide ‘seamless shopping everywhere’. It comes with Mobile First Commerce, which helps in optimising the store for smaller mobile screens. Thus, if your website is running in some old version, the first thing to do is update it to the latest version of Magento Commerce. Mobile-first commerce assures everything at once, from a mobile-friendly checkout to responsive themes and optimise UX/UI.

Work on the loading speed

If your store does not load fast on desktops, it would be even slower in the mobile screens. A part of the design will not appear or clicking any elements on the page won’t work. If more of your customers are accessing from mobiles, then before you lose a great sales optimise the load time with caching plugin, optimising the images and videos.

Provide simplified payments

The reason more people shop through mobiles is the convenience. The convenience is to pay with a tap with PayPal, Google Pay, Amazon Pay or other eWallet integrations. So, mobile eCommerce optimisation involves checkout optimisation too. While MagentoCommunity simplifies that mobile payments with digital wallets integrations, join solemnly the Magento Community Initiative to get access to applications like HiConversion that help in checkout optimisation.

Cut-down third-party advertisements

If your Magento site is flooded with too many pop-up ads, floating tabs for offers, deals etc., it may annoy the users more who view the site on mobiles. It is thus better you reduce or drop the ads and instead channel the ads or deals to customers through their emails.

Replace the heavy content

While a good amount of high-quality content gives you an upper hand in SEO and also looks good in the bigger screens, it can bog down the site when opened in smaller mobile screens. Half of the content can cut-off from the display screen. For mobile optimisation, you need to reduce the content and organise them into smaller fragmented sections. Enough of white spaces is too an important element to enhance mobile readability.

Mobile eCommerce optimisation is no doubt made the easiest with Magento platform. So, sweat no more with your non-optimised website making a substantial loss of sales but turn to a skilled Magento experts team who can make your store great for mobile traffic.

What is an eCheck?

Basically, an electronic check comprises an online payment system. In this system, money is withdrawn electronically from the checking account of a person. The transfer is made through the ACH network. Finally, the money is deposited into another bank account.

If you have an ACH merchant account, you can withdraw payments for services or goods from the bank accounts of your customers. However, it is possible only if the customer authorizes e-payment under a signed contract.

How Does the Processing Work?

Unlike paper check processing, electronic check processing is a lot faster. Customers don’t have to fill out a physical check. There is no need to send the check to the business either. With today’s technology, the entire process can be completed electronically. As a result, everyone can save a lot of time. Plus, there is no paper wastage.

4 Main Steps

Given below are the four steps that complete the processing of electronic checks. Once you have gone through these simple steps, you will have a solid understanding of how an electronic check processing system works. Whether you are a customer or business owner, you may want to try out this modern method of payment.

Request Authorization

If you are a business owner, you need to get authorization from your client or customer in order to initiate the transaction. Typically, this is done through a phone conversation, order form, or an online payment platform.

Payment Setup

Once the authorization is complete, payment information is inserted into the online payment system that processes every transaction. In case of a recurring payment, the system also includes the required information on the recurring schedule.

Finalization and Submission

As soon as payment information is added, it is submitted in order to initiate the ACH transaction process.

Confirmation of Payment

The payment is taken out from the bank account of the customer automatically. After the payment received, the funds are deposited into the bank account of the business. Generally, the fund depositing process is completed within 5 business days after the initiation of the ACH transaction.

Long story short, this was a brief introduction to electronic payment processing. If you are a business owner, you can introduce this system to your customers in order to facilitate payments. This will be a win-win deal for you and your customers. Your customers will be able to make payment with the help of their mobile devices and the funds will be transferred to your business account in a few minutes.

Even more startling: 10% of advice was found to leave investors in an even worse financial position.

Through a “vertically integrated business model”, Commonwealth Bank, National Australia Bank, Westpac, ANZ and AMP offer ‘in house’ financial advice, and collectively, control more than half of Australia’s financial planners.

It’s no surprise ASIC’s review found advisers at these banks favoured financial products that connected to their parent company, with 68% of client’s funds invested in ‘in house’ products as oppose to external products that may have been on the firms list.

Why the banks integrated financial advice model is flawed

It’s hard to believe the banks can keep a straight face and say they can abide by the duty for advisers to act absolutely in the best interests of a client.

Under the integrated financial advice model, there are layers of different fees including adviser fees, platform fees and investment management fees adding up to 2.5-3.5%

The typical breakdown of fees is usually as follows: an adviser charge of 0.8% to 1.1%, a platform fee of between 0.4% and 0.8%, and a managed fund fee of between 0.7% and 2.1%. These fees are not only opaque, but are sufficiently high to limit the ability of the client to quickly earn real rates of return.

Layers of fees placed into the business model used by the banks means there is not necessarily an incentive for the financial advice arm to make a profit, because the profits can be made in the upstream parts of the supply chain through the banks promoting their own products.

This business model, however, is flawed, and cannot survive in a world where people are demanding greater accountability for their investments, increased transparency in relation to fees and increased control over their investments.

It is noteworthy that the truly independent financial advisory firms in Australia that offer separately managed accounts have done everything in their power to avoid using managed funds and keep fee’s competitive.

The banks have refused to admit their integrated approach to advice is fatally flawed. When the Australian Financial Review approached the Financial Services Council (FSC), a peak body that represents the ‘for-profit’ wealth managers, for a defence if the layered fee arrangements, a spokesman said no generalisations could be made.

There are fundamental flaws in the advice model, and it will be interesting to see what the upcoming royal commission into banking will do to change some of the contentious issues surround integrated financial advice.

Many financial commentators are calling for a separation of financial advice attached to banks, with obvious bias and failure to meet the best interests of clients becoming more apparent.

Chris Brycki, CEO of Stockspot, says “investors should receive fair and unbiased financial advice from experts who will act in the best interests of their client. What Australians currently get is product pushing from salespeople who are paid by the banks.”

Brycki is calling for structural reform to fix the problems caused by the dominant market power of the banks to ensure that consumers are protected, advisers are better educated and incentives are aligned.

1. Cost of Living: Some factors, determining, the Cost of Living, include: wages (and wage growth); prices, etc, and how wages, are, or, aren’t able, to keep – up, with the increase in costs, etc! Most realize, we have, in the past – few months, experienced, a huge, jump, in pricing, most – apparent, in the food stores, restaurants, and, nearly, everything, related – to, day – to – day, existence, etc!

2. Federal Reserve: In recent times, the near – historic – low, extended period, of interest rates, has, in addition, to the intended measures (helping businesses, and the economy, in trying – times), has caused a Real Estate, Sellers Market, and, a huge rise, in home prices, in most parts of this country! In addition, it created a surge, in consumer use of credit, because, borrowing, appeared, cheaper! However, most economists forecast, many of these supports, and maintaining, such low rates, will, gradually, be reduced (or minimized), probably, beginning, next year. What impact will that have, and will we see, the historic reaction, which has been, when rates rise, it helps reduce inflation, etc?

3. National economy/ conditions: Largely, because of a world – wide, supply – chain, set of obstacles/ challenged, many industries, have experienced, challenges, in terms of, getting sufficient amounts of needed materials, etc! Go into, nearly, any store, and you will see, more – sparse, shelves, than we have seen, in recent memory! In addition, building supplies, products, food, toys, cars and car parts, etc, are under – stress, because of this!

4. Worldwide economies/ economic conditions: Nearly, every nation, is experiencing, economic issues and challenges! The United Kingdom, because of worldwide, as well as specific national trends/ causes/ conditions, has been largely, impacted! Since, we live, largely, in a global economy, when there is any disruption, in the supply – chain, it affects, everyone!

5. Stock and Bond Markets: Because of several reasons/ factors, the United States Stock Market, has benefited, significantly, and experienced, significant increases, in the price of stocks. In addition to the obvious ones, because, interest rates, have been, so low, many investors, believed, stocks, were, nearly, the only game – in – town! When, if, interest rates, rise, bond rates, will rise, and existing, bond prices, will adjust, and drop!

6. Immediate, intermediate, longer – term ramifications/ impacts: The immediate impact of inflation, is, usually, rising prices, and, wages, which, usually, rise, at a far – lower rate! In the intermediate – period, we begin to see, weakening economic trends, and in the longer – term, depending on how long, it ensues, there are often, several, undesirable ramifications, and impacts!

Don’t take inflation, and its risks, for – granted! The more you know, and understand, the better prepared, you will be!

1. Bond prices and interest rates: The price of a bond, generally, is inversely – related to interest rates! When these rates go down, prices, rise, and when they go up, the inverse occurs! Bonds have, what is known, as, a par – value, which is the price, paid, at the end of the term. Markets usually set these at 100, which represents $1,000 per bond, at maturity. However, during the period, the pricing can rise or fall, which impacts, liquidity – related issues!

2. Mortgage rates: For the last few years, we have been witnessing and experiencing, record – low, mortgage interest rates, which have helped the overall, real estate/ housing market, especially, in terms of, pricing increases! In most areas of this country, we are seeing, home prices, at their highest levels, ever, by a significant, dramatic amount! When this rate, is low, a home buyer is able to buy, more – house – for – his – bucks, because, his monthly payments, are so low! Consider, however, what might be the potential ramifications, and impacts, when these rates, will, inevitably, rise?

3. Consumer credit: Low costs of borrowing, help the automobile industry, in terms of consumer financing, etc! Although, not as much as other vehicles, rates on credit card debt, are lower, and there are often, shorter – term, promotions, offering deals! However, since, most of these are variable, and based, on some index, etc, what happens, when there is an increase, in this?

4. Business borrowing: Another area affected, is business cost of borrowing! Presently, they have had access, to relatively, cheap – money, which helps in reducing the costs of borrowing, overall operations, purchasing inventory, etc. But, what happens, when this, ticks – up?

5. Impacts on stock market prices: For some time, because bonds have paid so little, in terms of dividends, etc, many have considered, the stock market, the only game, in – town! In addition, many corporations, have seemed, better – off, than they probably are, and we have witnessed, a higher, ratio of prices to profits, than in the past! How long will this last? How high can it go?

Many factors impact these issues, especially: actual and/ or, perceived inflation; consumer confidence; politics/ government actions/ the Federal Reserve, etc. The more you know, and understand, hopefully, the better – prepared, you will be!