Coin is the Future of Payments

Coin – Secured & Connected Device for Transaction

Coin, a secure, connected device can hold and act like the card we tend to carry and works with debit cards, credit cards, gift card, membership cards and loyalty cards. Instead of carrying multiple cards, users could carry one Coin with several accounts together with information in one place.

Coin functions by enabling the user to add all the cards onto one piece of technology on `the Coin’. On signing with the Coin app with the same identifications to order Coin, users need to create a unique six digit tap code and when the app is set up, they can pair their Coin with the addition of new card by entering the information manually, swiping the card through an included card reader which goes into the headphone jack of the phone or by taking a picture of the card.

The Coin tends to get connected to the smartphone via a secured Bluetooth channel which is designed to thwart third parts from using the Coin or in transmitting information from it without access to the user’s smartphone. Its feature of the Lock-and-Find tends to provide a real time validation of the owner of Coin being available at the time of the transaction. Should the owner not be available at the time of the transaction, Coin tends to lock itself and can be found by the owner utilising the mobile app.

Designed on Custom 128-bit Encryption Layer

Coin has been designed on a custom 128-bit encryption layer for Bluetooth which can safeguard sensitive information as well as prevent man-in-the-middle outbreaks as informed byCoin CEO Kanishk Parashar to TechCrunch.

When not in use, the Coin tends to remain in locked position and when one intends making a transaction, a single tap on the Coin’s solitary button would activate the device to do a quick search for the specific smartphone and after a couple of seconds it will get unlocked. If the phone is on Airplane mode or turned off or else unavailable, user could unlock the Coin by editing the same six digits Morse style pin code which is utilised in accessing the Coin app.

The Coin functions as a standalone device and the mobile device is essential for the initial set-up for the purpose of adding or changing cards on the Coin and to completely use the Lock & Find system. However, it could also be used without the mobile device.

Stays Active for Seven Minutes

It can stay active for around seven minutes once the same is unlocked, in order that the waiter tends to have the time to swipe and then it automatically gets locked.

Moreover, it also remembers its last known location and alerts the user as soon as it contemplates that the smartphone could have been separated from the Coin. Users have the opportunity of saving up to eight cards on the Coin at a time and can re-sync various cards which are stored in the app as long as they are within reach of their smartphone.

Parashar informed TechCruch that the team have been working on an EMV product and that Coin would be attempting to make the shift as seamless as possible for the user. However, it seems too early in knowing the exact deal or trade-in process. Parashar had commented that it would be something sizable enough to show their appreciation for early adopters.

Save tax by investing in Mutual Funds

Mutual Fund – Substantial Returns

A collective investment in the form of mutual fund is professionally handled fund and investing in it could maximise the savings as well as receive substantial returns. As an investor, one needs to identify the needs and goal for the investment which could be in funding for a child’s education or retirement or a secondary income. In identifying the goal one could opt for the most appropriate investment options and reap the benefits. Tax savings mutual funds are known as Equity Linked Saving Schemes – ELSS wherein the main objective of these funds tends to provide a tax rebate of the Income Tax Act under section 80C and are also exempted from taxes for long term capital gains. Tax rebate from one lakh INR to 1.5 lakhs in 2015 had been increased by the Government of India. For ELSS, the minimum investment tenure is 3 years and if the fund tends to do well it could offer benefits of around INR 1 lakh. ELSS funds are offered 13% to 22% returns annually averaging to around 17.5%. Due to these reasons ELSS seems to be one of the topmost tax saving mutual funds of 2015. Besides this, other popular tax saving investment comprise of –

• Tax Saving Fixed Deposit wherein one could benefit up to 1 lakh INR though the interest which is earned from fixed deposits tend to be taxable 
• National Savings Certificate – NSC – which enables investments as low as INR 100 with a rate of interest of 8.5% for a period of 5 years and 8.8% for 10 years wherein one could save around INR 1 lakh with this scheme. 
• Home Loan Principal – under section 80C, principal amount on home loan qualifies for a maximum deduction of INR 1.5 lakh. However the same is not applicable for properties under construction as well as commercial properties. 
• Rajiv Gandhi Equity Saving Scheme – RGESS is a good choice for first time investors since it tends to offer tax savings of around 50% on the invested amount for the first year. Maximum deduction is INR 50,000 which can only be claimed by those whose annual incomes falls below INR 10 lakhs.

ELSS – Long Term Investment

ELSS seems to be a better investment plan due to its comparatively minimal lock in period of 3 years over Public Provident Fund – PPF which tends to be locked in for a period of 15 years. National Savings Certificate – NSC on the other hand is locked in for a period of 6 years and fixed deposits are locked in for 5 years. Moreover, ELSS could offer enhanced returns over the long term since it is an investment in equity markets. Prior to investments one needs to be well informed on the risks and expenditures associated with mutual funds. Some insight could be beneficial to the investors such as –

• Considering the prevailing financial situation of the market intending to invest in 
• Select an experience fund manager who is well versed in delivering good results, one who will keep you informed on the anticipated trends as well as prospects of the fund in the market 
• The prevailing performance of the mutual fund need to be investigated to lessen probable risks and look out for premium, mutual fund rates as well as consistency of the fund in the market 
• Match the returns of the fund with the other tax saving investments 
• Discover hidden expenses like the fund manager’s commission, marketing expenses and the other expenses.

China Money Market Stabilises After PBOC Injections; Investors Eye More Easing

Medium-Term Lending Facility – MLF Eased Market

China’s main money rates had been mixed recently as the confidence of the investors in the market seemed to recover a bit followed by huge fund injections by central bank earlier this week. Liquidity situations seem to be tightened over the last 10 days though traders had informed that they are speculating on another major easing move soon, by the central bank.

One trader has commented at a city commercial bank in Shanghai, that that they have experienced a difficult week. Mostly it is impossible to purchase overnight repos in the first two days. The medium-term lending facility – MLF and injection achieved to ease the market and these movements relieved investors and major banks, Some of the major banks have begun providing funds

The outcome of China’s surprise yuan devaluation on August 11, market viewers are concerned of the investors moving quickly out of yuan assets and into dollars, forcing yuan liquidity as well as the money market. Constricted liquidity could have also been a factor in the large equity market sell-off.

Central Bank – Address Liquidity Concerns

Trailing after a partial recovery earlier in August, benchmark of China’s CSI 300 equity index had fallen down by 11% on the week by The volume weighted benchmark seven day repurchase agreement –repo rate, considered the best indicator of short term liquidity conditions in China, increased by 11 basis points from August 11 to August 20 eventually hitting 2.58% on Thursday afternoon.

The central bank moved to address liquidity concerns on Wednesday and Thursday by lending 110 billion yuan to 14 banks through it medium term lending facility as well as injecting 120 billion yuan in money markets through the operation of open market. Central bank’s open market injection this week of 150 billion yuan was the largest since early February.

The repo of seven day eventually responded on Friday with trading at 2.5475 percent late morning with a modern fall of 3.26 basis points from the earlier day’s closing average rate. However, liquidity was yet under pressure owing to client dollar demand as well as real borrowing rates remaining high further down the yield curve. Traders are anticipating easing measures to come up soon.

Push Down Long Term Rates/Dissuade Borrowers – Short Term Money

A trader had mentioned that the central bank is subtle and they have to take into consideration the potential yuan devaluation as well as economic pressures in the next half year and once the direct injections is not capable of offsetting the liquidity shortfall adequately, central bank would have to cut interest rates.

One day repo had gone up by 0.99 basis point at 1.82% against Thursday’s closing and the 14 day repo was up, 1.75 basis point at 2.71%. The Shanghai Interbank Offered Rate – SHIBOR, for same tenor increased to 2.5990 percent up 1.30 basis point from the earlier close.

 In order to decrease speculation and guide more funds in long term productive investment, central bank has been making efforts to push down long term rates and dissuade borrowers from easy short term money. However a shaky stock market tends to keep it under pressure in keeping short term rates low in order to support share prices.

Long term rates on safe haven government debt and policy bank bonds seem to have fallen severelysince equity modification in late June and yields on corporate debt have scarcely shifted.

How to Stop a Foreclosure with a Short Sale

When you take out a home loan, you agree to make regular payments over 10 years or longer until you pay off both the original loan and the interest the lender charged on that loan. If you experience a medical problem, lose your job or go through other lifestyle changes, you may find that you can no longer pay off your mortgage. This gives the lender the right to foreclose on your home. Before a foreclosure ruins your credit, find out how you can recover with a short sale.

What is a Short Sale?

Many homeowners turn to companies like Realty ONE Group because they aren't sure what a short sale is or if a short sale is right for them. A short sale is essentially an agreement between you and your lender that allows you to sell your home before the lender forecloses on the property. You may have several months or up to one year to find a buyer for your home. Lenders often prefer going through a short sale than foreclosing on a home because it gives the bank more money.

Benefits of a Short Sale

Though a short sale will still appear on your credit report, many find that it impacts them less than a foreclosure does. A foreclosure will remain on your credit report for up to 10 years, which will make it difficult for you to obtain another home loan or any other type of loan. Depending on the agreement you work out with your lender, you may have the chance to walk away free and clear too. Some banks will agree to accept a set amount to pay off your total mortgage. As long as you sell your home for that amount, you won't owe the bank any additional money.

Before Putting Your House on the Market

Before you decide to go the short sale route and put your home on the market, you need to get some help from professionals like Kuba Jewgieniew and others. Those professionals can help you with everything from making arrangements with your bank to finding a qualified buyer and closing on the house. Professionals can also help you determine if you qualify for special programs like the Home Affordable Foreclosure Alternatives Program. These special programs can help you sell your home quickly without damaging your credit report or score.

Oil Prices Fall Again as U.S., Asia Demand Looks Set to Weaken

Oil Prices Dropped in Asian Trading

Oil prices dropped again in early Asian trading recently as traders speculated lowering refinery consumption after the US summer while the weakening economies of Asia and the high global production showed concern on the oversupply. The US crude futures had been trading at $41.84 a barrel each at 0014 GMT, which was around 3 cents below their last settlement and not more than six years low touched earlier this week.

Brent futures had been at $48.61 per barrel, down by 13 cents though the same is still some way from their 2015 low of $45.19. Both crude oil benchmarks have more than halved in value from the last year. They had rallied earlier in the year though are now almost a third below their last year rise in May.

Data have conveyed that several speculators have taken on large bets on further likely falls lying ahead. The reason for the change being twofold, one is the weak demand in several countries due to dull economic growth together with surging US production. Beside this is the fact that the oil association OPEC is unwavering in not cutting production as a way to prop up the prices.

Speculating Rise in U.S, Stockpile

According to ANZ bank it was commented that the `fundamentals suggest downside risk still tends to remain in key markets, especially iron ore and crude oil, in the months ahead’, speculating a rise in U.S. stockpile in the forthcoming months as refiners reduce operations for the purpose of maintenance as the summer driving season tends to come to an end thereby reducing the demand for US crude.

A subsidiary of Fitch Ratings, BMI Research had stated that the market could have an overshot to the downside, hoping in a modest recovery in the prices towards the fourth quarter. BMI Research analyst had commented that `the downward move had been largely speculative driven by the Iranian nuclear accord, economic uncertainties surrounding China and bearish re positioning in the futures market’.

Several oil traders have been positioning themselves to earn profit from an additional drop in U.S. prices. With regards to betting on further outright falls, the traders have become aggressive in taking up put options, an option which tends to sell a contract once the price begins to fall to a certain level, at a price as low as $35 and probably $30 a barrel.

Long-Term Outlook Seems to Remain Bearish

One broker had informed that the amount of queries that they had recently received with regards to leveraging bets on further price falls, have been quite surprising. Underlining the bearish sentiment, money managers as well as hedge funds cut their net long holdings of Brent crude futures for a fourth straight week, according to exchange data shown recently.

Long-term outlook also seemed to remain bearish with BMI Research guessing `oil prices probably to remain fixed till 2018’. They had stated that `the return of Iranian oil to the market, coupled with strong project pipelines in North America, the Middle East, West Africa and Kazakhstan would see global supply growth exceed the growth in global consumption for the next two years’. It was forecasted by the firm, that Brent would average to $56 and $55 in 2016 and 2017 respectively with U.S. crude averaging $53 in both the years.