Visa creates Visa Business Hub to help SMBs with technology and strategy

· Visa Business Hub to provide software-as-a-service (pay as you use) services that can help SMBs save up to 25% on IT expenses

· A Business Academy on the hub will provide latest trends on a range of topics via videos and expert opinions

· Malaysia and Singapore are the first markets to try the hub

Visa has set up the Visa Business Hub for small and medium sized businesses (SMBs) to help them navigate potentially confusing technology and gain insights on managing their companies better. Singapore and Malaysia are the first markets where the hub has been launched.

About 80% of companies in Singapore say in a survey that their decision to acquire SaaS/cloud was because of ‘best practice’ – that this technology is seen as ‘the way forward’ and not a fad. Among users of SaaS/cloud, 37% expect to upgrade or take on more software. Upgraders are motivated by cost saving, efficiency, but most of all just by ‘keeping up with technology’.

According to the survey, about half of Malaysian businesses conduct international trade. CRM software is the least adopted software, but like other software, it increases in adoption with larger SMBs (30+ employees).

The hub incorporates software-as-a-service that Visa says can help companies save up to 25% on IT expenses. The pay-on-use model  reduces upfront costs and implementation time for IT. A Business Academy section will provide tips on business success via videos and expert opinions. The hub includes resources related to sales, marketing and customer communication, work collaboration, project management and customer relationship management (CRM), human resources, accounting and legal, and website building and hosting. 

The platform is also designed to help banks increase usage of commercial cards (also called corporate cards, or cards that are issued to companies for corporate use) by allowing offers and discounts relating to SaaS and cloud services to be paid for through a commercial card.

“SMBs are a key segment for Singapore, given that they contribute to almost 50% of our country’s GDP and 70% of the workforce. At Visa, we constantly look to create solutions that are innovative and meet the needs of our clients. The launch of Visa Business Hub will be able to address the key strategies that SMBs mall are looking for, including improving customer service and increasing productivity through streamlining of processes,” said Ooi Huey Tyng, Visa Country Manager for Singapore and Brunei. 

Awareness of cloud services is at 76%, and overall usage is at 34%. The survey also revealed that 40% of businesses might consider SaaS or cloud services in the future, showing that there is a need for a platform such as the Hub.

Vikram Kshettry, Head of Small Business Products, Asia Pacific, Visa said, “Modern businesses face increased demands from their stakeholders to be digitally-enabled and this is often daunting.  With the portal, SMBs can improve cash flow, optimise business processes, while reducing IT spend and complexity.  SMBs can also access advice and coaching from industry leaders on how to stay competitive.  For Visa clients, the portal will ensure deeper engagement with SMB customers and differentiate their solutions.”

Interested?

Visit the Visa Business Hub. The first six digits of a Visa commercial card must be input to enter the site.

View the associated video

Shopping online? Read Trend Micro's shopping tips first

Online shopping is gaining traction in Singapore and around the region, with analysts saying that the online retail market in ASEAN nations could grow by up to 25% annually through 2017*.

While online shopping offers fast (and sometimes free) shipping, as well as saving one’s time, effort and money, it also presents serious threats that are often overlooked, from cybercriminals to online scammers that target consumers’ personal information and money, Trend Micro says.

The company has put together a list of tips on how shoppers can protect themselves:

Watch out for basic web threats

· Spam or junk mail – this seemingly harmless threat is something we all encounter almost every day. Spam or junk mail may seem like annoying mainstays of your inbox, but they can also contain dangerous links that could lead to the download of malware.

· Phishing – this is a method that involves the use of email, instant messages, social media posts, fake websites, and even phone calls to steal information. Phishing attempts are designed to look legitimate, but are used to trick people into divulging personal information or login credentials.

· Adware – these come in the form of popups or web links that deliver advertisements without your permission. Though not inherently harmful, adware can display highly-targeted ads based on data collected by spyware. Essentially, they are designed to track your browsing habits.

Safeguard online habits

Connect to a secure network – avoid using open or public Wi-Fi, as it offers attackers a bigger chance to intercept your connection and obtain your access details such as passwords and user names.

Bookmark websites – to avoid typing in the wrong address and landing on a dangerous or phishing website, always bookmark your most trusted shopping sites.

Avoid opening unusual emails and links – to the untrained eye, distinguishing a valid email from a fake one can be difficult. Find out if the email is dangerous by looking out for outrageous subject lines with “offers” that seem too good to be true. If you are still unsure, doublecheck with an official source.

Think before you click – as mentioned above, ads can be more than just pesky popups these days. Be wary of ads that come from sites you visit, including social media sites, as malicious ads can be tailored to compel a click that can infect your system with malware.

Install security patches and browser updates – keeping browsers and apps updated can reduce the risk of vulnerabilities that can be exploited.

Read your end-user license agreement (EULA) – this is a good security practice that most users overlook, but it is a great way to beef up security and avoid unwanted privacy issues. Check the EULA if the app or service you are using is monitoring your online activities, or if the software publisher is giving your information to third parties.

Make sure the order checkout is encrypted – hackers can easily exploit vulnerabilities to obtain personal details like your password or other information. If you are shopping online, be sure to use sites with encrypted payment forms.
Keep track of your bank or credit statements – to ensure that no fraudulent charges are being incurred, check your statements regularly for any unverified transactions.

Paul Oliveria, Technical Marketing Researcher at Trend Labs, Trend Micro said: “Our growing dependency on the Internet makes all of us an attractive target for cybercriminals. The simplest way to stay safe online is to be aware of the vulnerabilities and what you can do to counter them."

*AT Kearney. Lifting the Barriers to E-Commerce in ASEAN. Singapore: Geir, O, Soon, GC, Gergele, O, & Bartolucci, F. 2015.

Protecting yourself when banking online

HSBC has shared some best practices on using their security device with Internet banking:  

• The bank encourages clients to use a different PIN for their ATM card, phone banking and Internet banking, and not to reuse them for other purposes. "Do not disclose your Internet banking password or security code to anyone (including parties claiming to be bank staff or the police)," HSBC said in a statement.

• Unusual screens requesting additional personal information or an unusually slow response is cause for concern, HSBC said, suggesting that clients should scan their systems for malware.

• As a rule, clients should always access Internet banking by keying in the HSBC website address at the address bar of the browser, or bookmark the website and use that function to access to their HSBC Internet Banking accounts. This eliminates the risk of visiting faked websites through hyperlinks embedded in emails, pop-up windows and search results from search engines, for example.

• Keep computers updated with the latest security software, which can help to prevent problems from clicking on attachments or embedded URLs in suspicious emails. "HSBC will not display your personal information in emails or ask you to provide any personal information including username, password and security code by replying emails," the bank said.

• Avoid sharing personal details such as full name, passport details or credit card numbers. "HSBC Internet Banking will not ask you to provide CVV/CVC code and expiry date of your credit card. You should exercise caution in communicating your personal information," the bank noted.

• Irregularities can be caught through regularly reviewing online transaction records regularly and reporting anything unusual to the bank. Clients are also asked to review transfer limits regularly as this can limit any losses.

Interested?

Clients which have disclosed personal details to suspicious parties should immediately report the incidents to the bank or to the police, HSBC advises.

Suspicious websites encountered in Hong Kong can be reported to HSBC's customer service hotlines at +852 2233 3322 for HSBC Premier customers, +852 2748 8333 for HSBC Advance customers and +852 2233 3000 for other customers.

Review online security tips published by HSBC Singapore

Trend Micro shows how Android devices can be made more secure

According to Strategy Analytics, Android dominated the global smartphone market in 2014 with 1 billion units shipped worldwide, accounting for 81% of all smartphones shipped last year.

“Many users choose Android over other OS-based devices because first, the devices can be relatively cheap; second, it’s known for fast and efficient data storage and third, it’s available across different form factors, brands, and price points,” said Paul Oliveria, Researcher at Trend Micro.

Since it is so common, Android is also popular with hackers. Trend Micro has come up with a list of seven security tweaks that mobile users can employ to protect their data:

1. Lock the screen – Enabling a screen unlock code will prevent a device thief from accessing your mobile data.

2. Protect your data – Android comes with security measures that can be easily enabled. The Android security screen also includes an option to encrypt the device.

3. Strengthen passwords and app permissions – Remember to check the features that the app is allowed to access, and don’t forget to use strong and unique passwords. If passwords are re-used, hackers can also reuse them on other accounts.

4. Install a security app – An app that offers anti-theft features like remote wipe-out, tracking, and locking, as well as malware scanning and detection can help mitigate potential threats.

5. Connect to secure networks – Unsecured Wi-Fi networks can be used to intercept data in a ploy called a 'man in the middle' attack. Avoid conducting online banking, financials, and purchasing over public networks. Home Wi-Fi should be secured with a password.

6. Avoid rooting your device – While rooting allows more control over a device, it could also allow malicious apps to access data. This also makes it difficult to patch and update the OS and apps, which could leave your device vulnerable.

7. Download from official app stores – Downloading from third-party sites or app stores is one of the easiest ways for any mobile device to get infected. Limiting your apps to those from official or trusted app stores (like the Google Play app store) can lower the risks.

Need context?

Read Trend Micro’s blog post on securing an Android device

Read the TechTrade Asia blog post on Android smartphones being the most popular device for business smartphones.

Creating a successful email campaign

Want your marketing emails read? Then make sure it is all about the customer, says GetResponse, a provider of online marketing tools.

The top three things companies have to consider for a successful email marketing campaign, according to GetResponse CEO Simon Grabowski are:

Subscribers’ activity

"Check past history of ‘opens’ and ‘clicks’ to understand what your subscribers are interested in, how often they access their inbox and what time do they actively engage with your emails," he said. 

Subscribers’ device preferences

"Currently more than 40% of emails are deleted because of the incorrect display of content on mobile devices," Grabowski shared. "Find out which devices they use to engage with your emails as content for mobile and desktop has to be tweaked accordingly."

Responsive email systems

"Autoresponders should be customised to match your subscribers’ preference to increase the relevance of your outreach," he added.

"Emails of news and offers which do not cater to the preferences along with the presentation and time it was sent risk being irrelevant," he warned. 

Source: GetResponse.
Grabowski.

The company is currently focusing on Singapore, Malaysia and Thailand as the initial countries for building a local presence in Asia.

"The EU and US markets are not developing as rapidly, while there is still room for email marketing to grow in Asia with consumer groups here being more willing to experiment with new solutions and technologies,” he said. 

"This region is also the fastest growing technology market globally but there is a lack of regional email and online marketing solutions. Email also goes hand-in-hand with digital and mobile marketing although small organisations may not have the budget for digital and mobile options. As such, we still think there’s a need for a comprehensive email marketing service such as GetResponse,” he said.

Besides email automation, GetResponse offer complementary marketing strategies and channels such as social media integration, landing pages and stock photos which can be customised for marketing campaigns.

The Landing Page Creator 2.0 software, for example, helps GetResponse clients create promotional landing pages and mini-sites, and can also collect data from potential subscribers. “This helps online marketers and SMEs here to create effective and comprehensive lists of information for their marketing campaigns,” Grabowski said.

For US$15 a month, small businesses are given access to fully-automated marketing tools, while the GetResponse Enterprise version is for companies with more advanced email marketing strategies.

But what about email spam? “All of our subscribers are required to comply with our anti-spam policy which prohibits users from sending out unsolicited emails,” Grabowski said. “We also participate in industry initiatives to promote responsible, permission-based email marketing.”

Grabowski added that every message sent from a GetResponse account contains a link to unsubscribe which cannot be removed. “If a subscriber opts out, the link will automatically update the mailing list to take them out of future mailings,” he said.

Dos and don'ts for startup success

So you have a business idea and are thinking of starting up a company to market it. Will it sink or swim? Fabian Vandenreydt, Head of Markets Management, Innotribe and the SWIFT Institute, has seen financial technology (fintech) startups do both. 

Source: Innotribe. Vandenreydt.

Some of the main factors for success, Vandenreydt said, include:  

1) A clear understanding of the problem that you are trying to solve, and also understanding that it is a real problem 

All the time, energy and money spent developing the most amazing product comes to naught without starting with a problem to solve, explained Vandenreydt. "Without a clear problem to solve, you may get lucky, but 99 out of 100 times you won’t. Innotribe will help companies by identifying the problems the industry is facing," he said.

 2) A clear and detailed way to explain and implement the chosen solution, and a clear understanding of the market for this solution
 
"Without understanding who you are trying to sell to, you often over-complicate your product. The key to understanding your market is to test early, and test often. When the people behind Dropbox had their original idea, their initial product was a video of how they envisioned the service. They distributed this product to see if there was a market. By creating enough validation of their idea, they then went on and invested the time, energy and money to develop Dropbox," Vandenreydt said.  

3) A strong team of quality individuals who can collaborate and work well together, and 

4) A deep understanding of the expectations of venture capitalists and bankers

A significant key to success however, is the willingness to change if needed.
"Agility, the ability of a small startup to succeed, is often measured not in how great their initial idea is, but by the agility and ability to respond to better understanding of the problem and the market," Vandenreydt explained. 

"This pivoting of ideas is what separates success from failure. One famous example is Flickr, which started as a game but later found that photo sharing ability of the platform was what people used more than anything else. They responded by pivoting, and moving from a game platform to a photo sharing one."

Creating visibility is also essential, Vandenreydt added. "You may have the best product in the world that solves a number of issues, but how does one person or a small company grab the attention of a multinational? 

"This is one area where Innotribe excels. Our mission is to bridge the gap between the fintech innovation ecosystem, and SWIFT and its members, by exposing what these companies are doing, and how they are doing it."