(This post originally appeared on Forbes)
Here are five things in technology that happened this past week and how they affect your business. Did you miss them?
1 — Etsy’s CEO thinks the proposed California bill would hurt small businesses.
This past week Josh Silverman — the CEO of Etsy — made it clear that he thinks the new bill that California is proposing would benefit Amazon while damaging small business operations. According to the law being proposed, online retailers would be held responsible for injury in the exact manner as retailers who operate in brick-and-mortar locations. The bill would make over 3 million sellers — most of which are single-person businesses or women-owned — on Etsy acquire and manage liabilities that they likely would be unable to afford. (Source: NBC News)
Why this is important for your business:
He’s right and it’s not just Etsy – it affects anyone selling anything online, regardless of your company’s size. If the bill passes in California it could lead other states to do the same. If you’re selling online you should be paying close attention to this.
2 — Creators will now be able to sell merchandize from TikTok.
TikTok announced their partnership with commerce company Teespring, which will enable makers to put their items up for sale through the popular video app. Currently, Teespring has over 7,000 users in the United States alone. The move comes in an effort from Teespring to work with and serve more creators. Additionally, makers on TikTok have the capability to stream live video, allowing additional earnings while also providing more visibility to the Creator Marketplace on the app. The Creator Marketplace assists brands find and work with creators. (Source: USA Today)
Why this is important for your business:
In my opinion it’s unlikely that TikTok will be banned in the U.S. and more likely that it will be sold to a bigger tech player. In that case this will be only the beginning of tools allowing businesses to sell their products over the popular online service. That’s assuming your market is made up of 8-12 year old girls!
3 — Google Cloud now lets businesses create their own text-to-speech voices.
Google announced that they have rolled out some new updates to their Contact Center AI platform, with the most notable feature allowing users to make a personalized text-to-speech voice. The idea behind the new feature is that companies will now be able to design a text-to-speech voice unique to their company or brand, potentially even using a recognizable spokesperson. To make this happen, businesses will be able to have the person with their chosen voice record a specific script given by Google, allowing Google to train their speech AI from those recordings. (Source: Tech Crunch)
Why this is important for your business:
Where’s that guy who does all those Hollywood voiceovers? Sounds like a big opportunity for people with great lungs to sell their skills to businesses and brands looking to create their own, personal text to voice communications with their customers. Is James Earl Jones available?
3 —Plastiq is partnering with Silicon Valley Bank to offer Foreign Exchange (FX) credit card payment capabilities.
This past week, Plastiq shared that they are partnering with Silicon Valley Bank in order to collaborate on offering foreign exchange (FX) credit card payment capacities. The newest collaboration will enable businesses to use their credit card in order to pay suppliers who operate from other countries in that suppliers’ currency, rather than paying in U.S. dollars. The new FX card will also be accepted in places where typical cards are not. (Source: Plastiq)
Why this is important for your business:
Disclosure: Plastiq is a client of my company. But their service is a good one for small businesses looking to do more overseas transactions and who don’t want to deal with the cost and complexity of arranging payments. Using Plastiq you can just use your credit card. They – and their banking partners – will take care of the rest. Sure, there’s a fee. But I think it’s worth it. And no, I received no payment for this.
5— PayPal is tapping into installments with their new feature that splits purchases into four.
PayPal recently announced that they will begin to offer a payment selection that is interest-free and will allow those using the platform in the United States to pay in four installments when making purchases. Other companies such as Afterpay and Klarna currently offer similar installment plans for those shopping online but — according to PayPal — their new feature will be different due to the fact that merchants will not be charged any additional fees other than what they already pay for the typical services. (Source: Market Watch)
Why this is important for your business:
Ah, the old lay-a-way plan. Just like your mom and dad used back in the day when they were buying the ‘ol Victrola. Some payment practices never go out of style.
