Showing posts with label Business. Show all posts
Showing posts with label Business. Show all posts

Tuesday, September 18, 2018

Philosophical questions


Here is a great list of philosophical questions to get you thinking about life, the universe, and everything. Some questions are quite complicated, and some questions are deceptively simple but with broad or far reaching implications. We’ve got philosophical questions on human nature and the human condition / the universe and reality/ the human mind, consciousness, and intelligence / ethics and morality / society and government / science and technology.

It’s a great list of questions to get an intellectually stimulating discussion going and touches on a lot of different areas of philosophy. And while some of the questions might be intriguing to academically trained philosophers, this list of philosophical questions is aimed at a more general audience and is meant to be accessible to everyone. I’ve also put up a printable PDF and an image of all the questions at the bottom of the page.

So, have a look, I’m sure you’ll find at least a few philosophical questions that will peak your interest. And remember, when having a discussion on philosophy, “why?” and “why do you think that?” are always great companion questions.

Philosophical questions about human nature and the human condition

What harsh truths do you prefer to ignore?

Is free will real or just an illusion?

Is there a meaning to life? If so, what is it?

Is the meaning of life the same for animals and humans?

Where is the line between art and not art?

If someone you loved was killed in front of you, but someone created a copy of them that was perfect right down to the atomic level, would they be the same person and would you love them just as much?

Does fate exist? If so, do we have free will?

What does it mean to live a good life?

Why do we dream?

Is it possible to live a normal life and not ever tell a lie?

Does a person’s name influence the person they become?

What should be the goal of humanity?

If you could become immortal on the condition you would NEVER be able to die or kill yourself, would you choose immortality?

How will humans as a species go extinct?

What actions in your life will have the longest reaching consequences? How long will those effects be felt?

How long will you be remembered after you die?

If a child somehow survived and grew up in the wilderness without any human contact, how “human” would they be without the influence of society and culture?

Where does your self-worth come from?

How would humanity change if all humans’ life expectancy was significantly increased (let’s say to around 500 years)?

Where do you find meaning in your life?

What do you think would be humanity’s reaction to the discovery of extraterrestrial life?

Will religion ever become obsolete?

If you could teach everyone in the world one concept, what concept would have the biggest positive impact on humanity?

Is suffering a necessary part of the human condition? What would people who never suffered be like?

Does hardship make a person stronger? If so, under what conditions and at what point is it too much hardship? If not, what makes a person stronger?

Would things get better or worse if humans focused on what was going well rather than what’s going wrong?

What benefits does art provide society? Does art hurt society in any way?


How likely do you think it will be that humans will last another 1,000 years without killing ourselves off?

What do you attribute the biggest successes in your life to? How about your largest failures?

If freedom is simply being able to do what you want, are animals freer than humans?

Would you want to know you are going to die before hand or die suddenly without warning?

Is humanity headed in the right or wrong direction?

Does the study of philosophy ever lead to answers or simply more questions?

What is the best way for a person to attain happiness?

If you had to guess, what do you think would be the most likely way you’ll die?

Is it better for a person to have a broad knowledge base or a deep knowledge base?

What is the best way to train people to see the gradients in the world around them instead of just a simplistic “this is good, that is wrong” view of the world?

Is intelligence or wisdom more useful?

Which of your beliefs are justified and which ones aren’t?

What do you contribute back to society?

What are you going to do with the one life you have?

Is it more important to help yourself, help your family, help your society, or help the world?

What life-altering things should every human ideally get to experience at least once in their lives?

What is the most important goal every person should have?

Is it better to be a big fish in a small pond or a small fish in a big pond?

What are you capable of achieving?

By what standards do you judge yourself?

Can human nature be changed? Should it be changed?

How replaceable are you?

Why don’t we as a species take more advantage of the fact that we have almost infinite knowledge available to us?

What two questions would you ask to get the most information about who a person truly is?

Some people believe that if life has no purpose, then there is no reason for living. While others think that if life has no purpose, that frees a person to find/create and follow their own personal purpose. Which is a more valid point of view or are they both equally valid?

Does absolute power corrupt absolutely?

Why do we judge ourselves by our intentions but judge others by their actions?

What activities cause you to feel like you are living life to the fullest?

Does knowledge have intrinsic value or does it need to have a practical use to have value?

What would you genetically change about humans to make them a better species?

How important is play in living a healthy and fulfilling life?

Where do you think is the most worthwhile place to find meaning in life? Work, family, hobby, religion, philosophy, helping others, all the small miracles, or something else entirely?

What is the biggest waste of human potential?

Is a life that focuses on avoiding pain and seeking out pleasure a good and worthwhile life? Why or why not?

Does jealously have value in driving humans to improve themselves or is it a purely negative emotion?

What percentage of your life do you feel truly alive? When do you feel that way? How can you feel that way more often?

What do you think your future self will remember about you now?

“Know thyself” is an ancient concept going back much further than Socrates and is at the root of much of philosophy. With that in mind, what are the most important things to learn about one’s self or is all self-knowledge equal?

Philosophical questions about the universe and reality



What do you think existed before the universe was created?

Is math something that humans created or something we discovered? Is looking at reality mathematically an accurate representation of how things work?

Is it possible for a human to fathom the true depths of reality and existence?

If the universe is finite, what would beyond the edge of the universe be like?

What is the best path to find truth; science, math, art, philosophy, or something else?

As more and more is being discovered about quantum physics, we become less and less able to comprehend the nature of reality. Is this something temporary and our minds will adapt and begin to understand this new reality or is it possible that the human mind will soon reach its limits of comprehension? If it’s only temporary, is there is a limit to what the human mind can comprehend? If we are reaching our limits, how do we continue to study our reality?

Is there inherent order in nature or is it all chaos and chance?

What in life is truly objective and not subjective?

There has always been something. Before there was something, there was only nothing. Which do you think is more likely?

Philosophical questions about the human mind, consciousness, and intelligence



Is happiness just chemicals flowing through your brain or something more?

Why are humans so susceptible to magical thinking?

If every neuron in a human was accurately simulated in a computer, would it result in human consciousness?

Is it possible that some animals are self-aware and think about their ability to think?

How do you define consciousness?

Is it possible to prove that other people besides yourself have consciousness?

How conscious do you think animals are?

Assuming evolution is correct, do you think that if humans went extinct another species as intelligent as humans would evolve? If life exists long enough on a planet, is intelligence and consciousness inevitable?

Would it be more frightening to discover that humans are the most advanced species in the universe or that we are far from being the most advanced species in the universe?

How would you define genius?

There is zero chance that ALL your firmly and dearly held beliefs are true. So, which of your beliefs are most likely to be wrong and which are most liable to be true?

How much does language affect our thinking?

Why are humans so confident in beliefs that can’t be proven?

If all your memories were erased, what kind of person would you be?

Why do humans have such a strong urge to distract ourselves from the real world?

What is the benefit of consciousness from an evolutionary stand point?

Is the concept of “you” continuous or does past “you” continually fade into present and future “you”? In other words, what part of “you” sticks around over time considering that the atoms that make up your body are constantly being replaced and your memories are always changing?

Is it possible that someone’s genes might affect their political leanings? If no, why not? If so, what would be the ramifications?

Can rational thought exist without language?

Would selectively breeding an animal such as a dog based on intelligence, increase its intelligence over time? If so, how intelligent could dogs become? If not, how does intelligence emerge in a species?

Are there limits to human creativity?

Why do we resist doing things that we know are good for our well-being while craving things that are detrimental to our well-being?

Is it be possible for humans to create something completely novel and new that is based on nothing that previously existed? Or is human creativity just rearranging and building on previous ideas?

If there existed a perfect clone of you, would it also be you? Would it act in exactly the same manner as you (like a mirror) or would it act differently? If it acted differently then would it still be you? At what point would it not be you?

Would you be able to tell if time had been altered in some way?

Your perception of the world is just what your brain constructs for you from the signals sent by your senses. Plus, there is a slight delay, so you aren’t even experiencing the simulation in real time. What would it be like if humans could perceive what the world is actually like and do it in real time? Also, what are the ramifications of every single person’s reality being a little different and unique to them?

If language influences how we perceive color, what other things could languages be changing our perception of?

Is a sense of humor a byproduct of consciousness or something else entirely?

Are intelligence and happiness tied together in any way? If you are highly intelligent, is it more likely that you’ll be more, or less happy?

Human memory has been shown to be incredibly unreliable. With that in mind, how do you know which of your memories are genuine and which have been altered or made up?

Different people and different organisms perceive reality in vastly different ways. With that in mind, what is real and what is just our perception of reality? Or does every organism live in its own personal reality?

Ethics and morality philosophical questions



When, if ever, is taking a human life justified?

Can animals have morals?

Without religion would people become more, less, or be equally morally corrupt?

If humanity was put on trial by an advanced race of aliens, how would you defend humanity and argue for its continued existence?

What rights does every human have? Do those rights change based on age?

Do animals have rights and do those rights extend to all animals or do the rights change based on the complexity of the animal?

Is justice a human construct or is it independent of humans?

Why do people expect a universe full of randomness to be fair?

With no laws or rules to influence your behavior, how do you think you would behave?

What’s the difference between justice and revenge?

If it was discovered that personality traits were partly genetic and could be removed with gene therapy, would it be ethical to edit out negative character traits that harm others like extreme aggression, compulsive lying, or cruelty?

If you could press a button and receive a million dollars, but one stranger would die, would you press the button? And if so, how many times?

What would be the most ethical way to give away five million dollars?

Are people ethically obligated to improve themselves?

Is privacy a right?

At what point is overthrowing a government ethical, considering all the violence a revolution usually entails?

Can morality ever be objective or is it always subjective? If it can be objective, in what instances? If it’s always subjective, how do we decide whose concept of morality is correct?

Are intentions or outcomes more important when judging whether actions are moral?

Should there be limitations on the right to free speech?

If it was discovered that most animals were conscious of their existence and eventual death, what would be the ramifications of that discovery?

Should euthanasia be legal? Why or why not?

If scientists could accurately predict who was more likely to commit crimes, what should society do with that information?

Do business owners have the right to refuse service to customers?

If babies are considered innocent, when do people cease to be innocent?

Why do humans often associate beauty with morality?

If you can save another’s life and don’t because doing so would break the law, are you ethically justified in your decision?

Are all individuals morally obligated to save another person’s life if they are able? What if that person lives in another country?

Is it just and right to deny entry to a country when doing so probably means death for the immigrant and their family?

Should we terraform planets if it means that we may be destroying undiscovered microscopic alien life?

Does anonymity encourage people to misbehave or does it reveal how people would choose to act all the time if they could?

What is the most fertile soil for hatred? Fear, ignorance, jealousy, or something else entirely? Is it possible that some people are genetically predisposed to hatred?

If doing something good for others makes us feel good, can there ever be such a thing as pure altruism?

What is your definition of evil?

Do all people have equal value regardless of their actions or is a person’s value based on their actions?

Why are humans so fascinated by mass murderers if their actions are universally considered evil and vile?

As people, we feel our moral obligation weaken with physical as well as emotional distance from individuals in need. For example, you’re more likely to help someone dying of hunger at your feet than someone dying of hunger in another country. How does this human trait of morality dependent on distance shape our world?

If I steal a loaf of bread from you and eat it, when does the bread itself cease to be yours and becomes mine?

How much effort should an individual put into not offending others?

Philosophical questions about society and government



If you could start a country from scratch, what would it be like?

Would a government run with algorithms, A.I., and statistics be better or worse than the government we have now?

Would the world be a better or worse place if everyone looked the same?

What causes the most harm in the world, but is completely avoidable?

How far should governments go to prevent its citizens from causing harm to themselves?

Do people in wealthier countries have a moral obligation to help those in poorer countries?

What should the role of a government be, what boundaries and limitations should it have?

Is poverty in society inevitable?

How should we measure the productivity of a society?

What would a utopia be like, how would it function and continue to exist?

Do you think there will ever be a global government? If a world government did come to power, assuming it wasn’t particularly cruel or evil, would it be a good or bad thing?

What is the biggest threat to the social contract in our country?

Is it more or less difficult to be successful in the modern world than it was in the past (10, 50, 100, or 1,000 years ago)?

Could societies exist without a way to transfer value (i.e. without money or a barter system)?

What would happen if a maximum income of was implemented?

What will the economy of wealthy countries look like in 50 to 100 years?

What do you think the long-term effects of so many people being glued to their screens will be?

If all humans want the same basic things, why is there so much violence and strife between people?

Is the human tendency to create groups an overall positive or a negative trait in terms of general human flourishing?

What would happen to a society in which no one had to work, and everyone was provided enough food/water/shelter/healthcare for free?

Is the cultural trend of individualism and the rejection of collectivism a beneficial or detrimental trend?

Considering that the technology exists to enable a real democracy, would a true democracy (every single person can vote on every single legislation) be advantageous or detrimental?

If everyone said what they were actually thinking, what would happen to society?

What are the benefits and drawbacks of diversity in society?

Under our government are there any rights that you have but shouldn’t? How about rights you don’t have but should?

What is the most important right our government allows for?

Has social media been a net positive or a net negative for our society? Why?

How would society change if men were able to get pregnant and men and women both had an equal chance of getting pregnant?

Why have many societies begun to place such a high value on emotions and being emotional?

Is it right or wrong that everyone seems to be accustomed to the fact that all of humanity and most of the life on Earth could be wiped out at the whim of a handful of people?

In an ideal government, what should a good citizen provide to their government and what should that government provide that good citizen?

Should tax payers have the option to explicitly say what they don’t want their tax dollars spent on?

Can a society exist without laws?

Will humanity ever be able to escape tribalism and the creation of in and out groups? Should it?

How much privacy are you willing to sacrifice for safety?

How would the world change if there was an accurate measure of aptitude?

Is hierarchy necessary for all successful human communities?

Is some degree of censorship necessary?

What are the biggest moral dilemmas your country is facing now?

Was the agricultural revolution and the explosion of civilizations that came from it an overall good thing for humans or a negative? In other words, would it have been better or worse for people to stay in small tribes?

What will be/are some of the by-products to society of everyone having the ability to take pictures or a video at any time?

Does marriage as an institution need to be updated or is it fine how it is?

If you were given the ability to reform how your country’s leaders were chosen and how they serve, what would you change?

Philosophical questions about science and technology



At what point is a technologically enhanced human not a human anymore?

Does the modern age make global conspiracies more or less feasible?

Is technological advancement a net positive or a net negative?

Is technological progress inevitable as long as humans exist or can it be stopped?

Is true artificial intelligence possible with our current technology and methods of programming?

What scientific breakthrough would have the biggest effect on humanity?

Why did technology progress more slowly in the past than it does now?

Will we keep leaping to even greater technological and scientific breakthroughs that radically change society, or will the rate of progress slow and humanity’s progress be limited to incremental improvements?

If a robust and cheap genetic engineering industry existed, would you have your genes edited? If so, what genetic changes would you choose to make? If not, why not?

Assume that in the future there will be huge leaps in human augmentation. Given a scale from completely human to completely machine, how far would you choose to augment yourself with robotics? What parts would you augment and why?

If the transporters in Star Trek existed and you used it, your particles would be disassembled and then reassembled, do you die every single time? Are you ever alive at two places at once? Are you ever completely dead?

Should full access to the internet be a fundamental human right?

Has the invention of the atomic bomb made the world a more peaceful place?

Do you think the singularity will occur? If so, what time frame do you think it will happen in?

If emotions are the product of biochemical reactions, then in the future we will be theoretically able to control them. If we could control emotions through technology, should we?

Is there a limit to what humans can create through technology and science?

Printable PDF of philosophical questions

Here is a PDF of all our philosophical questions. Hope you enjoy!

More questions

Well, that about wraps it up! I hope you’ve enjoyed this list of philosophical questions and found some that made you think. But don’t leave just yet, we’ve got lots more questions on the site!

200 Questions to get to know someone – A lot lighter in tone than the questions on this page, but perfect for getting to know someone!

350 Good questions to ask – Another great page with lots of great questions.

Topics to talk about – If you are running out of things to talk about or if you are looking for something lighter than philosophical questions, try this one.

Wednesday, August 8, 2018

Logical thinking is crucial to the math ability


The ability of logical thinking is crucial to the math ability. People who are good at math have a right solution or not have any solution, and never provide a wrong solution because of their logical abilities.

By default, we consider the logical ability is good for both girls and boys. I agree that the girls are good at reading and writing in comparison with boys. The advantage is also a disadvantage because the language arts affect the girls' logical abilities. They cause the girls to be more imaginative and unclear than boys are. Consequences of the thinking are the girls make results which may be right or wrong, and obviously illogical. Moreover, when the girls remain to be young, they lack knowledge to drive their imaginations. They easily accept illogical results. So, the language arts and lack of knowledge are causes of lack of logical abilities. They make the illogical solutions, and of course, the solutions are wrong. So that, the girls self-consider without abilities to resolve math exercises.

Remember, the U.S. had a long history of discrimination that the women were irrational or illogical, which could stem from their language arts. When understanding causes, they can be overcome by educating.

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Make Your Daughter Practice Math. She’ll Thank You Later.

The way we teach math in America hurts all students, but it may be hurting girls the most.

By Barbara Oakley - Ms. Oakley is an engineering professor and the author of a book on learning.

For parents who want to encourage their daughters in STEM subjects, it’s crucial to remember this: Math is the sine qua non.

You and your daughter can have fun throwing eggs off a building and making papier-mâché volcanoes, but the only way to create a full set of options for her in STEM is to ensure she has a solid foundation in math. Math is the language of science, engineering and technology. And like any language, it is best acquired through lengthy, in-depth practice.

But for girls, this can be trickier than it looks. This is because many girls can have a special advantage over boys — an advantage that can steer them away from this all-important building block.

A large body of research has revealed that boys and girls have, on average, similar abilities in math. But girls have a consistent advantage in reading and writing and are often relatively better at these than they are at math, even though their math skills are as good as the boys’. The consequence? A typical little boy can think he’s better at math than language arts. But a typical little girl can think she’s better at language arts than math. As a result, when she sits down to do math, she might be more likely to say, “I’m not that good at this!” She actually is just as good (on average) as a boy at the math — it’s just that she’s even better at language arts.

Thursday, August 2, 2018

Follow the money: what happens when you swipe your card


By Geoff Williams, CardRatings.com - 01/16/2012

Credit cards aren't magic, but they can seem like it. After all, one minute, you have nothing in your hands, and then the next, simply by waving a piece of plastic (which might as well be a wand), presto! you suddenly own something you didn't previously have.

And for many shoppers, the way credit cards make your money move around might as well be magic. Like television, airplane flight, the Internet -- we tend not to think much about how things work. We just care that they do.

"It is kind of a mystery," says John Ulzheimer, president of consumer education at SmartCredit.com . Ulzheimer should know exactly how credit card processing works, as he has over 20 years' experience working in the consumer credit industry, including high profile positions at Equifax and FICO. But even this credit card guru admits that he can get stymied when people ask him to explain the process.

"You'd think that there are only three parties involved in credit card processing -- you, the merchant and the bank, but it's much more complicated than that," Ulzheimer says.

In large part, he adds, that's because not every credit card issuer processes payments in the exact same way.

But the information is out there, and so if you're the sort who likes to know how the rabbit got in the hat, or how the woman was sawed in half, here's what happens when you swipe your card.

1. The purchase

When you swipe or wave or tap your card at a checkout counter, the store's credit card reader forwards the card information to the acquirer (a bank that makes payments on your behalf), which then relays the message to your credit card issuer (a company that holds your credit card account information). If the issuer says you have enough credit to make the purchase, an approval is then transmitted back to the acquirer, which then sends back an approval to the store. You sign for your purchase, and you're on your merry way.

Unless, of course, the signal came back that your card was denied, which is how you then end up red-faced and explaining to the clerk that you were sure you had enough funds in there. Maybe they could try again?

Either way, this process, which involves you, the acquirer and the credit card issuer, takes just seconds if things are running smoothly.

2. The waiting game

You walk out of the store with your new purchase in hand, but the store doesn't have its money yet. Phil Zimmerly, owner of the Common Grounds Coffeehouse & Cafe in Bluffton, Ohio, explains that his credit card reader "authorizes, stores the information and then processes it in the middle of the night."

The storing of credit card sales is called batching . Says Zimmerly: "We get the customers' money two days later, typically."

This is one reason online retailing has been a pleasant boon for entrepreneurs. They often can get their money from credit card processing before sending the product out.

3. The clearing process

A lot is going on during what's called the clearing process . All of the information that was collected during the purchase goes to the acquirer, which in turn shuttles that information to the card network , also called the credit card association.

What's a card network? Do the names MasterCard and Visa ring a bell? The card network is the go-between the acquirer and the credit card issuer. American Express and Discover are also card networks, and here's where it can get really confusing, since American Express and Discover are also credit card issuers, but MasterCard and Visa are not.

Anyway, the card network sends your purchase data to your credit card issuer, a financial institution like Chase, Citi, or, yes, American Express or Discover. The issuer will then typically subtract itsinterchange fee and share part of that fee with the credit card network.

Afterward, the network sends this financial data (think: money) back to the acquirer. The acquirer then takes its portion of your transaction, called a discount fee .

4. Closing the loop

But the bottom line is that after the clearing process, comes the funding process , in which the business owner receives his or her money, and you the consumer, who have moved on to new shopping experiences, have now officially paid the retailer, if not your credit card issuer, for that purchase you made a couple of days ago.

In the case of Common Grounds, which handles a large number of relatively small transactions (their Sunday special currently features a $2.50 bottomless cup of coffee), the fee process is a little different. Zimmerly says, ""We pay miscellaneous fees once per month, which includes different processing fees and card swipe fees." Of credit card processing, he admits, "Some parts we still don't understand."

Confused? Visa provides a visual explanation of credit card processing on their website, in " The life of a Visa transaction ."

"Credit cards are a bit unpredictable on how much we will be charged each month," acknowledges Zimmerly, "but on the plus side, we feel that credit card sales are a big asset to our business."

And consumers presumably feel that credit cards are an asset to their buying power. In America alone, according to the U.S. Census Bureau, there were an estimated 181 million credit card users in 2010. That's a lot of approving, batching and clearing going on all at once. It may not all rival the magic of a 747 lifting off the ground and soaring 40,000 feet into the air, but it's still pretty impressive.

Wednesday, January 24, 2018

WHAT IS MIS? | MANAGEMENT INFORMATION SYSTEMS



Management Information Systems (MIS) is the study of people, technology, organizations and the relationships among them. MIS professionals help firms realize maximum benefit from investment in personnel, equipment, and business processes. MIS is a people-oriented field with an emphasis on service through technology. If you have an interest in technology and have the desire to use technology to improve people’s lives, a degree in MIS may be for you.

Businesses use information systems at all levels of operation to collect, process and store data. Management aggregates and disseminates this data in the form of information needed to carry out the daily operations of business. Everyone who works in business, from someone who pays the bills to the person who makes employment decisions, uses information systems. A car dealership could use a computer database to keep track of which products sell best. A retail store might use a computer-based information system to sell products over the Internet. In fact, many (if not most) businesses concentrate on the alignment of MIS with business goals to achieve competitive advantage over other businesses.

MIS professionals create information systems for data management (i.e., storing, searching and analyzing data). In addition, they manage various information systems to meet the needs of managers, staff and customers. By working collaboratively with various members of their work group, as well as with their customers and clients, MIS professionals are able to play a key role in areas such as information security, integration and exchange. As an MIS major, you will learn to design, implement and use business information systems in innovative ways to increase the effectiveness and efficiency of your company.

A common misconception that MIS only concerns programming. However, programming is just a small part of the MIS curriculum. While programming concepts represent some of the founding concepts and information systems development, implementation and use, many jobs in MIS do not utilize programming at all. A large portion of the MIS degree focuses on data analysis, teamwork, leadership, project management, customer service and underlying business theories. These aspects of the degree are what set the MIS professional apart from a computer science specialist.
  • Do you enjoy working with people?
  • Would you enjoy the chance to work on global problems with people from all over the world?
  • Do you enjoy analyzing and solving problems?
  • Do you want to create innovative, cutting-edge technology solutions?
  • Do you want to learn how to make businesses more efficient, effective and competitive?
Then you should consider as your major the field that is experiencing a critical shortage of professionally trained individuals. A field where demand is skyrocketing with projected growth rates of 38 percent – the fastest of any business discipline (U.S. Bureau of Labor Statistics).

MIS professionals make business better

Below are some frequently asked questions regarding careers in MIS. This information will help you learn more about a career in MIS and to better understand the opportunities such a career may have in store for you.

WHAT KINDS OF PEOPLE PURSUE MIS DEGREES?

The profiles of MIS professionals are varied, but in general, such individuals possess many of the following traits:
  • good problem solving skills
  • ability to effectively manage time and resources
  • a clear vision of “the big picture” as well as the “small details”
  • a desire to work closely with other people
  • excellent communication skills
  • ability to think strategically about technology
  • a desire to take responsibility for developing and implementing their own ideas
WHAT ARE TYPICAL CAREER OPTIONS FOR MIS PROFESSIONALS?
  • IT Consultant
  • Web Developer
  • Information Systems Manager
  • Business Intelligence Analyst
  • Network Administrator
  • Business Application Developer
  • Systems Analyst
  • Technical Support Specialist
  • Business Analyst
  • Systems Developer
WHY SHOULD I CHOOSE TO MAJOR IN MIS?
  • Job satisfaction
  • High placement rate
  • High salaries
  • Exciting field
  • Challenging field
  • Hands-on problem solving
  • Innovation and creativity
  • Global opportunities
  • Great chance for advancement
  • You can have an impact!
WHAT IS AN AVERAGE SALARY FOR AN MIS PROFESSIONAL?

MIS majors have one of the highest starting salaries of all the undergraduate degree programs in Mays Business School. The average starting salaries of our MIS graduates in 2014 was $62,100 with top students commanding salaries as high as $72,000.

Importance of the Management Information System


by Linda Banks

Management Information Systems (MIS) not only include software systems, but the entire set of business processes and resources that are used to pull together information from functional or tactical systems. Data is then presented in a user-friendly and timely manner so that mid and upper-level managers can use it to take the right actions. The entire system is designed so that the company will meet its strategic and tactical goals.

Significance

Organizations have multiple functional systems. These usually include sales systems, call center systems, financial systems, inventory systems, logistic systems and more. MIS combines information from multiple systems. This helps management staffers better understand their own departments' contributions. In many cases, the combination of data, such as sales figures combined with available inventory, help the manager take the appropriate action in order to meet the customer's needs.

Function

The primary function of MIS is to help a manager take an action, answer a question or ask the right question. The questions or actions should directly relate to tactical or strategic goals. A sales manager who uses projections from the financial systems to compare with actual sales from the sales system can better gauge whether goals will be met. If the target is not going to be met, then the manager and his group can review their past actions and make necessary changes in order to increase sales and meet goals.

Types

MIS is not necessarily a specific combination of functional systems, but instead is created based upon the business need. CRM (Customer Relationship Management) systems combine data that relates directly to the customer experience. ERP (Enterprise Resource Systems) combine data used in the entire sales process. Decision Support Systems or Data Warehouse often combine summary data from multiple systems in order to show executives a snapshot view of the entire organization.

Considerations

Prior to starting an MIS project, organizations need to carefully review the transactional systems, the business processes and the needs of management within an organization. As an MIS project grows, so does the cost of implementing a solution, managing the information processes and monitoring daily activities. The result of an MIS project must provide value back to the organization in order to be worth the cost.

Misconceptions

Many managers mistakenly believe that, for MIS to be effective, all data from all systems must be combined. The value of MIS is based upon how much it can help managers manage. If this means bringing just the data needed from several systems and ignoring the rest for now, the end result still has worth, which is the ultimate goal of MIS.

Friday, September 15, 2017

Do I Need an LLC to Start a Business?


by Jane Haskins, Esq., Freelance writer, September 2017

If you're launching a new venture, you may have wondered, do I need an LLC to start a business? The simple answer is, no, you don't need an LLC to start your own business, although you may decide you want one.

An LLC, or limited liability company, provides personal liability protection and a formal business structure, but you can also get those things by forming a corporation or other type of business entity. It's also perfectly legal to open a business without setting up any formal structure. You'll gain simplicity but miss out on some key protections.

Here's a look at the risks and benefits of starting a business without an LLC.

LLC: Start Business Without One?

If you don't form an LLC, there are two types of legal options for running your business. The first is to file paperwork with your state to establish another type of business entity such as a corporation or limited liability partnership. Each business entity type has its own benefits, but all of them have one key feature: They limit your liability for business debts. If you decide to establish a business entity, a business lawyer or accountant can help you decide whether an LLC or another entity type is best for you.

Your other choice is to operate your business without creating a formal business entity at all. If you are the only owner, you'll be a sole proprietor. If you own your business with one or more other people, you will be a general partnership. Going this route has a few advantages:
  • It's easy. You can be up and running without having to file documents with the state. However, you may still need a business license or permits from your locality and, if your business name isn't the same as your own name, you may have to register a fictitious name, or DBA ("doing business as").
  • It's cheap. You won't have to pay your state's business formation fee or annual reporting fee. You also won't need to pay someone to act as your registered agent.
  • It lets you test the waters and keep startup costs low. This may be especially appealing if your new business is a solo side gig and you're not sure you'll really make much money. You can always decide to form an LLC later.
Starting a business without an LLC does, however, carry significant risks, especially if you have business partners or employees.

Risks of Starting a Business Without an LLC

If you don't form an LLC or other business entity, you leave your personal finances vulnerable to business problems, and your operations may suffer from the lack of formal structure. Disadvantages of starting a business without an LLC include:
  • No personal liability protection. If you're a sole proprietor or general partner and your business is sued or has unpaid creditors, you personally face liability. Everything you own is at risk. You also may be liable for business-related activities of your co-owners and employees. An LLC changes the equation: As an LLC owner, you might lose everything you have invested in the business, but your personal home, bank account, and other assets are protected. This is one of the main benefits of an LLC or other business entity.
  • Lack of structure. Many business partners don't give much thought to the details of how to divide responsibilities, profits and losses, or what will happen if there are disagreements or someone wants to leave. These issues will come up eventually. Your LLC operating agreement sets up rules and a framework that can minimize expensive conflicts later.
  • Harder to raise money. Banks and investors may be reluctant to loan or invest money in a sole proprietorship or general partnership.
  • Potentially harder to market. Two business entities can't have the same name in the same state, and forming an LLC helps ensure that the name you have chosen is unique, and will stay that way.
So, no, you don't need an LLC to start a business, but, for many businesses, the benefits of an LLC far outweigh the cost and hassle of setting one up.

Sunday, September 3, 2017

Seven C’s of Effective Communication



There are 7 C’s of effective communication which are applicable to both written as well as oral communication. These are as follows:

Completeness - The communication must be complete. It should convey all facts required by the audience. The sender of the message must take into consideration the receiver’s mind set and convey the message accordingly. A complete communication has following features:

Complete communication develops and enhances reputation of an organization.
Moreover, they are cost saving as no crucial information is missing and no additional cost is incurred in conveying extra message if the communication is complete.

A complete communication always gives additional information wherever required. It leaves no questions in the mind of receiver.

Complete communication helps in better decision-making by the audience/readers/receivers of message as they get all desired and crucial information.
  • It persuades the audience.
Conciseness - Conciseness means wordiness, i.e, communicating what you want to convey in least possible words without forgoing the other C’s of communication. Conciseness is a necessity for effective communication. Concise communication has following features:
  • It is both time-saving as well as cost-saving.
  • It underlines and highlights the main message as it avoids using excessive and needless words.
  • Concise communication provides short and essential message in limited words to the audience.
  • Concise message is more appealing and comprehensible to the audience.
  • Concise message is non-repetitive in nature.
Consideration - Consideration implies “stepping into the shoes of others”. Effective communication must take the audience into consideration, i.e, the audience’s view points, background, mind-set, education level, etc. Make an attempt to envisage your audience, their requirements, emotions as well as problems. Ensure that the self-respect of the audience is maintained and their emotions are not at harm. Modify your words in message to suit the audience’s needs while making your message complete. Features of considerate communication are as follows:
  • Emphasize on “you” approach.
  • Empathize with the audience and exhibit interest in the audience. This will stimulate a positive reaction from the audience.
  • Show optimism towards your audience. Emphasize on “what is possible” rather than “what is impossible”. Lay stress on positive words such as jovial, committed, thanks, warm, healthy, help, etc.
Clarity - Clarity implies emphasizing on a specific message or goal at a time, rather than trying to achieve too much at once. Clarity in communication has following features:
  • It makes understanding easier.
  • Complete clarity of thoughts and ideas enhances the meaning of message.
  • Clear message makes use of exact, appropriate and concrete words.
Concreteness - Concrete communication implies being particular and clear rather than fuzzy and general. Concreteness strengthens the confidence. Concrete message has following features:
  • It is supported with specific facts and figures.
  • It makes use of words that are clear and that build the reputation.
  • Concrete messages are not misinterpreted.
Courtesy - Courtesy in message implies the message should show the sender’s expression as well as should respect the receiver. The sender of the message should be sincerely polite, judicious, reflective and enthusiastic. Courteous message has following features:
  • Courtesy implies taking into consideration both viewpoints as well as feelings of the receiver of the message.
  • Courteous message is positive and focused at the audience.
  • It makes use of terms showing respect for the receiver of message.
  • It is not at all biased.
Correctness - Correctness in communication implies that there are no grammatical errors in communication. Correct communication has following features:
  • The message is exact, correct and well-timed.
  • If the communication is correct, it boosts up the confidence level.
  • Correct message has greater impact on the audience/readers.
  • It checks for the precision and accurateness of facts and figures used in the message.
  • It makes use of appropriate and correct language in the message.
Awareness of these 7 C’s of communication makes you an effective communicator.

Friday, August 4, 2017

Print from Chrome


Google Help

You can print from Chrome using your computer or mobile device. With Google Cloud Print, you can make your printers available to you and anyone you choose.

Learn more about how Google Cloud Print works.

Set up Google Cloud Print

If your wireless printer says that it's Cloud ready, follow your printer manufacturer's instructions or see setup information for Cloud-ready printers.

If your printer doesn’t say it’s Cloud ready, follow the steps below.
  1. Turn on your printer.
  2. On your Windows or Mac computer, open Chrome.
  3. At the top right, click More Settings.
  4. At the bottom, click Advanced.
  5. Under "Printing," click Google Cloud Print.
  6. Click Manage Cloud Print devices.
  7. If prompted, sign in with your Google Account.
  8. Select the printers you want to connect, and then click Add printer(s).
The printer is now associated with your Google Account and connected to Google Cloud Print. You can print to this printer from any device where you're signed in to your Google Account.

Print using Google Cloud Print

To print from an Android device, you'll need to set up Google Cloud Print on your Google Account. Or, you can install a printing app on devices with Android 4.4 and up.
  1. On your Android device, open the Chrome app .
  2. Open the page, image, or file you want to print.
  3. At the top right, tap More Share.
  4. Select Print.
  5. At the top, select a printer.
  6. Change any print settings you want by tapping the Down arrow .
  7. When ready, tap Print .
Let others use your printer

After you set up your printer with Google Cloud Print, only your Google Account can print. To let others print, share your printer with them.
Share printer with a specific person or group

You can share your printer with anyone who has a Google Account.
  1. On your computer, open Chrome .
  2. Make sure you’re signed in with the same Google Account you used to set up your printer. Learn how to sign in to Chrome.
  3. Go to google.com/cloudprint#printers.
  4. Click your printer.
  5. Click Share.
  6. In the box that appears, enter the Gmail address or Google Group you want to share with.
  7. Optional: To let a person rename and share access to your printer, change "Can print" to "Can manage."
  8. Click Share.
Tip: To share with a group of people, add their Google Accounts to a Google Group. Learn how to set up a Google Group.

If you share with a Google Group, the group admin will get an email asking them to approve printer access for their group. When the admin approves, that group can use the printer.

Share printer with everyone

If you own a public place, like a library or coffee shop, with a public printer, you can share that printer with everyone.

Step 1: Set up public sharing
  1. On your computer, open Chrome .
  2. Make sure you’re signed in with the same Google Account you used to set up your printer. Learn how to sign in to Chrome.
  3. Go to google.com/cloudprint#printers.
  4. Click your printer, then click Share.
  5. Next to "Private," click Change.
  6. Choose Anyone with the link has access to the printer.
  7. Click Save.
Step 2: Share printer
  1. In the "Link to share" box, copy the link.
  2. Share the link with whoever wants to print from your printer.
  3. Optional: To change how many pages someone can print per day, click 15 pages/day.

Tip: To shorten your printer link, use a URL shortener like goo.gl.
Stop sharing a printer
  1. On your computer, open Chrome .
  2. Make sure you’re signed in with the same Google Account you used to set up your printer. Learn how to sign in to Chrome.
  3. Go to google.com/cloudprint#printers.
  4. Click your printer, then click Share.
  5. Remove a person or group.
Stop sharing a printer with everyone
  1. Follow steps 1-4 above.
  2. Next to "Anyone with the link has access to the printer," click Change.
  3. Choose Private.
  4. Click Save.

Tuesday, August 1, 2017

What Physically Happens When I Swipe My Credit Card?

The magnetic strip on your card contains sensitive magnets that hold data.
By Kathryn Hatter

Standing at the cash register to pay for your items means reaching for your credit card in some cases. The small electronic card reader faces the customer, ready to take your credit card information as you swipe your card through it. Swiping your credit card sets in motion the processing of your payment.

Authorization Process

After you swipe your card through the card reader, the magnetic strip on the back of the card provides identification details from your credit card account. The card reader electronically transmits these details to the “acquirer” -- the bank with the job of making credit card payments for your credit card account. The acquirer moves the payment and account details to your credit card issuer for authorization. As long as you have enough credit available on your credit card, the issuer sends approval back to the acquirer and then back to the merchant. You’ll see an “approved” message on the card reader and you’ll be good to go with your purchase.

Payment Batching

Merchants store credit card payments that come in each day to submit them together at the end of the day. This is called “batching.” The merchant will gather all credit card transactions and submit them as a group to the acquirer. The acquirer moves the payments through the process based on the authorization that occurred at the point of sale.

Clearing the Payment

After approving the credit card transactions, the acquirer sends transaction information on to the “card network” or credit card association. The card network has the job of routing transaction information to the correct credit card issuer to get payment. Part of the clearing process involves fee subtraction. Credit card issuers subtract an “interchange fee,” shared with the card network. The card network returns the financial data to the acquirer, which also subtracts a “discount fee.”

Show Me the Money

After the acquirer gets the financial data back from the card network, it sends the electronic funding for the transaction back to the merchant. In simple terms, the merchant gets the money to pay for your purchase. The time between the initial swipe and the final funding is typically 24 to 48 hours.

What Is the Difference Between Credit Card and a Debit Card?

Cavan Images/Iconica/Getty Images
By Miriam Caldwell - Updated July 06, 2017

Understanding the difference between a debit card and credit card allows you to make wise financial decisions. Debit cards and credit cards are accepted at the same places. Debit cards all carry the symbol of one of the major types of credit cards on them, and can be used anywhere that credit cards are accepted. They both offer convenience. The fundamental difference between a debit card and a credit card account is where the cards pull the money.

A debit card takes it from your banking account and a credit card charges it to your line of credit.

What Is a Debit Card?

Debit cards offer the convenience of a credit but work in a different way. Debit cards draw money directly from your checking account when you make the purchase. They do this by placing a hold on the amount of the purchase. Then the merchant sends in the transaction to their bank and it is transferred to the merchants account. It can take a few days for this to happen, and the hold may drop off before the transaction goes through. For this reason, it is important to keep a running balance of your checking account to make sure you do not accidentally overdraw your account. It is possible to do that with a debit card. You will have a PIN to use with your debit card at stores or ATMs. However, you can also use your debit card without a PIN at most merchants, you will just sign the receipt like you would with a credit card.
  • A debit card is tied directly to your checking account.
  • It can be used where a credit card can be used.
  • Generally, you will use your PIN to complete the transactions.
What Is a Credit Card?

A credit card is a card that allows you to borrow money in small amounts at local merchants. You use the card to make your basic transactions.

The credit card company then charges you interest on your purchases, though there is generally a grace period of approximately thirty days before interest is charged if you do not carry your balance over from month to month. Credit cards have high interest rates and are considered a revolving line of credit that you can use again after you pay it down. Your credit card balance and payment history can affect your credit score.
  • A credit card is a line of credit you can access with your card.
  • Generally, you must sign on these purchases (exceptions may be at the gas pump or for small amounts at a drive-thru window).
  • You will pay interest on the purchases made if not paid off in thirty days.
Debit Cards vs Credit Cards

In the past many people felt that you needed a credit card to complete certain transactions such as rent a car or to purchase items online. They also felt that it was safer and easier to travel with a credit card rather than carrying cash or trying to use your checkbook. However debit cards offer the same convenience without making you borrow the money to complete the transactions. It can be difficult to determine when to use a credit card or a debit card. Some argue that a credit card offers additional insurance on purchases and makes it easier to request a refund or a return.

You should carefully read the disclosure information for your credit card to understand the benefit.

Choosing the Best Card for the Situation

It is better to use your debit card whenever possible, because it will prevent you from accidentally falling into the credit card trap. When you can pay cash for most items, you are doing better financially. Some rental car agencies and hotels may still request a credit card over a debit card because they want to have a card where they can bill you for damages to their property. Be sure to check with the hotel or agency before you travel to make sure you can use your debit card instead of your credit card.

Some people will argue for using a credit card for the majority of purchases to take advantage of credit card reward programs. This works if you pay off the balance in full each month.

However, if you do not, you will not earn enough to make up for the rewards. The credit companies offer the rewards as an incentive for you to use the credit card and would not do so if they lost money on the transactions.
  • Consider using credit cards for hotel reservations and car rentals.
  • For daily purchases, your debit card can help you stick to your budget.
  • If you are going to take advantage of rewards, be sure to pay off the balance in full each month.
Protecting Your Credit

Both a credit and debit card have similar risks when it comes to theft. If your credit or debit card information has been compromised, you will need to contact your bank immediately. You should also take additional steps and monitor your credit report to make sure that your identity was not stolen, It is important to check your statements each month to make sure you can identify all charges. The banks limit the length of time that you can report a fraudulent charge on the account. The bank will freeze the account and issue you a new card when you report that the card has been stolen or you see an unauthorized transaction.

Monday, July 31, 2017

What happens when I swipe my credit card.


Joosep Kõljalg, works at Skype

I assume that you are asking this question to understand how the money from your bank account ends up in the merchant’s bank account.

As the process is quite long I have divided the credit card transaction into 3 separate steps. These steps or sub processes are as follows:
  • Cardholder Verification
  • Authorization and capture of funds
  • Clearing and Settlement
Cardholder verification

Everything starts with verification of the cardholder. There are handful of verification methods used with credit cards today. These methods are there to make sure that this cardholder has the right to use the funds on the account that is associated with this credit card. I’m going to cover 3 types of verification methods here, these are used on majority of the transactions today.

Swiping the card

When the card is swiped, then the merchant is asked to enter last 4 numbers from the card. This is to prove that the the card is actually present in the store and has number embossed on it. Once this is done the Authorization message is sent to the card issuer. Some merchants may ask the customer to sign the printed receipt and might ask to see a ID with a photo on it. Whether they ask for these detail depends on the merchant’s and the acquiring bank’s risk and fraud procedures.

Chip and Pin

Customer enters their credit card to the card reader. They are shown the amount due and asked to identify themselves and confirm the transaction with a PIN code. The PIN code is either checked on card or online PIN, this depends on the merchant POS terminal capabilities. Once the correct PIN is entered the payment is sent for Authorization.

Online

When purchasing online the mandatory fields are always the cardholder name, card number and expiry date. Most merchants and acquiring banks require the use of additional verification methods to be used. These methods typically are Card Security Code (CVV2) and 3D secure. These verification methods (except for 3D Secure) are sent to issuing bank together with the authorization message.

Authorization

Once the cardholder is verified then an authorization message for the payment has been sent to the card issuer. This message and all later messages will be relayed through Card Organization (Visa, MasterCard, Amex, etc) systems to correct issuer. Card issuer will check if the card is active and there are enough funds on the associated account.
  • In case there are enough free funds on the account the issuer will debit the account accordingly and will send out OK message to the merchant’s POS terminal.
  • If there are not enough funds available or there is other issues with the card, then NOK message is sent to the merchant with the error code.
  • Third option is also possible - referral this means that the merchant is expected to contact the card issuer to verify the cardholder.
Once the Merchant has received the OK message back, they can give the goods/service to the customer.

Depending if the acquiring bank’s processor (might be one entity with the bank) is using Single Message System or the Dual Message System if the financial transaction is completed with authorization or later separately.
  • With Single Message System, the POS terminal sends the authorization and capture within one message. This means that the transaction is sent for clearing and settlement at once.
  • With Dual Message System the POS Terminal will collect the daily transactions into a batch and send them to the processor all at one for clearing and settlement.
Clearing and Settlement

Processor will send the transactions data to Card Organizations on behalf of acquiring bank. Based on that data the card organizations create clearing files that have all the necessary information about the transactions made. Based on the information from clearing files settlement between Card Organizations, card issuer and acquiring bank will take place. Acquiring bank will now debit the merchant’s account with earnings and the process is finished.

https://www.quora.com/What-happens-when-I-swipe-my-credit-card

How to Accept Credit Cards at Your Business


by Louise Balle

With a little more than 51 percent of Americans carrying two or more credit cards according to a 2007 report by Experian, a credit-reporting agency, any small business owner is smart to at least consider accepting credit cards as a form of payment. Whether you run your company from an online store or a mom-and-pop shop, a credit card merchant account is an important asset to your business. You have numerous options for setting up an account to accept credit cards from customers—the decision depends on how you plan to "meet" with your customers.

1. Determine the most common place where you'll come into contact with your customers—in person, over the phone, or on a website. This decision is key to determining the type of merchant account you should seek.

2. Choose a traditional merchant account if you plan to take credit card payments from customers at an established location. This is the option for a standard brick-and-mortar business. With this merchant account you need electronic credit card swiping equipment.

3. Choose a mail or telephone (MOTO) merchant account if most of your customers call in to purchase items. This is common for businesses that advertise on the radio or television and solicit phone orders. You can enter the customer's credit card information on an electronic terminal (no swiper necessary) or by using online processing software.

4. Choose a merchant account that establishes an online gateway or virtual terminal so that you can take credit card payments from customers on your website. With this type of merchant account you do not need any physical equipment other than your own computer to view payments.

5. Choose a cell phone or mobile merchant account if you plan to accept credit cards from customers in person while on the road at trade shows and fairs. The only equipment you need for this type of account is your cell phone. Some merchant services providers also offer wireless credit card swiping machines that you can use with a wireless internet connection.

6. Select a merchant services provider who offers the type of account you need. Examine the transaction and processing fees associated with the service—merchant services providers commonly charge a percentage of the sale, a flat per-transaction fee and a regular monthly fee to maintain the account.

7. Fill out the application for the merchant account that meets your needs. You'll have to provide your Social Security Number so that the company can perform a credit check. If approved, you'll receive a package via snail mail or email with information about how to set up your payment acceptance device and start accepting payments. You'll also receive a merchant number unique to your account. If you have to purchase equipment to go with your merchant account, your sales representative will guide you on the appropriate machines to buy.

http://smallbusiness.chron.com/accept-credit-cards-business-692.html

How to Receive Payment for Online Sales


by Katherine Johnson

Receiving payments online when you make a sale enables your business to guarantee and collect funds faster than waiting for a mailed check or money order to arrive at your place of business. Many options exist for accepting payments online -- you can choose to use a traditional merchant account or alternatives that do not require monthly fees or equipment rental.

Merchant Account

Merchant accounts enable you to accept credit card orders on the Web, in person, by mail or over the phone. If you are approved, you may be asked to purchase or lease equipment from your merchant account provider to process transactions. Some merchant accounts will help you accept Visa, MasterCard, American Express and Discover, while other merchant account providers may offer only the ability to accept Visa or MasterCard. To open a merchant account, you may have to meet certain credit criteria, provide information about your business and estimate the volume your business will have each month. Merchant accounts often charge you a monthly fee, charge a set per-transaction fee and charge a percentage of each total transaction.

PayPal

PayPal enables you to accept credit card payments, electronic checks and Bill Me Later payments without applying for a merchant account. You will not have to pay a monthly fee, but PayPal does charge a transaction fee and a percentage of the transaction based on your credit card volume. PayPal also offers a credit card swiping device that enables you to take credit card payments in person without paying a monthly fee. PayPal also offers more traditional merchant accounts for businesses to accept seamless payments on a website, but you must fill out an application to be approved for the account.

Google Checkout

Google Checkout is the seller's side of Google Wallet. Any customer who has already signed up for Google Wallet can quickly check out on your website using Google Checkout. Like PayPal, Google Checkout does not charge a monthly fee for processing credit card payments, but you will pay a transaction fee and a percentage of each transaction to Google. Google Checkout integrates with many shopping carts like BigCommerce, Shopify, Vendio, Network Solutions and the WordPress e-Commerce plug-in.

ProPay

ProPay provides an alternative to traditional merchant accounts and services like PayPal and Google Checkout. ProPay does not require a lengthy application process or a high credit score to open an account. You can apply, be approved and begin taking orders within the same day. ProPay offers several different ways to process credit card payments. You can use the online interface that enables you to type in credit card numbers, use the credit card swiping device or phone in credit card numbers to the automated system. Like PayPal and Google Checkout, ProPay does not charge a monthly fee. However, you will pay a yearly fee, a per transaction fee and a percentage of each transaction.

http://smallbusiness.chron.com/receive-payment-online-sales-64830.html

How to Receive Payments Online


by eHow Contributor

If you decide to conduct e-commerce, one of the first things you will need to know is how to receive payments online.

There are several ways to receive payments online. You might consider using different methods based on each payment or customer type.

Read the guide below to help you decide how to receive payments online for your online business transactions.

Set up a PayPal Shopping cart - One very popular solution is receiving payments online through Paypal shopping carts. Simply sign up for a Paypal account and follow their easy instructions on setting up PayPal buy buttons. Choose this option if you want a simple shopping experience and an easy payment system that is well recognized.

Invoice customers through by email through Paypal - The next method you will want to use to receive payments online is invoicing customers through Paypal. With Paypal's invoicing option, you can request payment from your customers by email. The customer then pays for your products or services through Paypal. Choose this option if you want an easy method to conduct business offline and want to receive payments online.

Use a different third party payment processor - There are other companies (such as e-junkie or clickbank) that both provide the shopping interface for customers and process your payments online. Many of these have specific specializations, such as downloadable products or affiliate program management. Choose these if you are want more than just what PayPal offers but still want to keep it simple.

Use your own credit card merchant account - Having a merchant account allows you to process and accept credit cards without using a third party (such as PayPal). Even as a small company, having your own merchant account gives you certain flexibilities and control which third party solutions don't. If you don't already have a merchant account for your business, check them out and see for yourself. Using the simplest credit card processing with your own merchant account, you receive payments through a shopping cart system and then process the credit cards manually. This is not a recommended solution, but can work well for companies that only plan on receiving a small number of orders online. See next step for more complex solutions using your own merchant account.

Use your own credit card merchant account with payment gateway - The next method of how to receive payments online is to get your own merchant account and use an online payment gateway (such as authorize.net) to process the payments for you. The merchant account will allow you to accept credit cards, but the payment gateway will allow you to authorize those credit cards in real time right when the customer makes a purchase. Choose this method is you are serious about e-commerce and want a sophisticated interface for your customers where credit cards are processed on the spot. Note: Some payment gateways also offer merchant account services, so check these out.