Hiring an experience copywriter is expensive and then waiting for the copy to be written painstaking hard because you needed it yesterday, right!Now you can try doing it yourself. But… this is hard if you don’t have a proven and successful framework to operate from… or any knowledge of what to write about. And then there is this occasional WRITERS’ BLOCK…
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Yes it’s that simple actually most of the copy on this page has been created using the power of KlickXCopy! It really does allow you to fire your content creator. I have used a number of similar products in the past, but the high-quality, on-point content that KlickCopy generates is truly a market-first.
KlickXCopy is the perfect tool for you and your clients who want to create high-quality, effective copy for their websites, marketing materials and more. It took the guesswork out of copywriting, using recognized marketing principles to help you create professional copy that really works. Plus, it iseasy to use, so you could get started quickly and easily.
KlickXCopy has saved us time, and allowed you to create more high quality copy. Which has meant more money for you. Simply put, we highly would recommend KlickXCopy as the best copywriting tool we have ever used.
The term “microaggression” was coined in 1970 to name relatively slight, subtle, and often unintentional offenses that cause harm (Pierce, 1970). Since then, a substantial body of research on microaggressions has demonstrated their prevalence and harmful effects (Boysen, 2012; Solorzan, et. al., 2010; Suárez-Orozco, et. al., 2015; Sue, 2010).
Whether an observer, the target, or the unintentional perpetrator of microaggressions, faculty often don’t know how to respond to them in the moment. We may feel frozen (if the observer) or defensive (if the target or perpetrator). How we respond can shift the communication climate from supportive to defensive, which can have an adverse effect on student learning and comfort (Dallimore, et al, 2005; Souza, et al, 2010).
Despite the feelings of paralysis or reactivity that tend to emerge in response to microaggressions in the classroom, certain practices can be implemented to increase the likelihood of maintaining a supportive climate. The following communication framework is offered as one of many possible response strategies to help faculty feel better equipped to effectively respond when a microaggression occurs.
I developed this framework (first introduced in Chueng, Ganote, & Souza, 2016) as an interactive response one could take to a microaggression by a student in the classroom. The acronym and steps below provide a guide on how to take ACTION rather than feeling frozen when faced with a microaggression.
Ask clarifying questions to assist with understanding intentions.
“I want to make sure that I understand what you were saying. Were you saying that…?”
Come from curiosity not judgment.
Listen actively and openly to their response.
If they disagree with your paraphrase and clarify a different meaning, you could end the conversation. If you suspect they are trying to “cover their tracks,” you may consider making a statement about the initial comment to encourage learning.
“I’m glad to hear I misunderstood you, because, as you know, such comments can be…”
If they agree with your paraphrase, explore their intent behind making the comment.
“Can you tell me what you were you hoping to communicate with that comment?”
“Can you please help me understand what you meant by that?”
Tell what you observed as problematic in a factual manner.
“I noticed that . . .”
Impact exploration: ask for, and/or state, the potential impact of such a statement or action on others.
“What do you think people think when they hear that type of comment?”
“As you know, everything speaks. What message do you think such a comment sends?”
“What impact do you think that comment could have on …”
Own your own thoughts and feelings around the impact.
“When I hear your comment I think/feel…”
“Many people might take that comment to mean…”
“In my experience, that comment can perpetuate negative stereotypes and assumptions about… I would like to think that is not your intent.”
Next steps: Request appropriate action be taken.
“Our class is a learning community, and such comments make it difficult for us to focus on learning because people feel offended. So I am going to ask you to refrain from stating your thoughts in that manner in the future. Can you do that please?”
“I encourage you to revisit your view on X as we discuss these issues more in class.”
“I’dappreciate it if you’d consider using a different term because it is inconsistent with our course agreement regarding X…”
When practiced, the ACTION framework can be a tool that is quickly retrieved out of your mental toolbox to organize your thoughts and unpack the microaggression in a way that addresses the situation and cools down tension.
When students make comments that are microaggressive in the classroom, doing nothing is a damaging option (Souza, Vizenor, Sherlip, & Raser, 2016). Instead, we can engage thoughtfully and purposively in strategies that maintain a positive climate that is conducive to learning and models the skills needed in responding to microaggressions in any context (Souza, 2016).
“The evolution of aggression”. In Schaller, M.; Simpson, J. A.; Kenrick, D. T. (eds.). Evolution and Social Psychology. New York: Psychology Press. pp. 263–86.Briffa, Mark (2010).
The exponential growth in e-commerce and the impact of the pandemic have fuelled the rise of ‘Buy Now Pay Later’ (BNPL), making it one of the biggest retail trends in 2021. This is set to continue in 2022, with new players entering the market and new partnerships and acquisitions being established. BNPL has largely been driven by consumer appeal, easy availability and the promise of no interest and no fees – if payments are made on time.
It is popular across all demographics for different reasons but has especially gained traction among millennials and Gen Z consumers as a means of financial empowerment. For consumers, it provides an easily accessible method of borrowing, instant gratification, a flexible returns policy and the ability to manage finances by spreading the cost of purchases over an agreed period.
For retailers, it reduces basket abandonment, increases sales and adds stickiness, without any risk. BNPL providers pay merchants up front and issue loans to consumers while bearing all the credit risks and administration costs of running the loan programme. They typically charge the retailer a fee of around 2-7% of the transaction plus a fixed fee, depending on their business model.
If managed correctly, BNPL offerings can be a convenient and cheap way of accessing credit, but late or missed payments can lead to late fees, blocked accounts, bad debt and even impact credit ratings. BNPL company Laybuy revealed that in a six-month period in 2021, almost half their revenue came from late fees. This is revenue gained from people’s inability to pay, and there is growing concern that BNPL practices are leading to financial hardship and debt accumulation in an industry where oversight is needed to protect consumers.
THE GROWTH OF BUY NOW PAY LATER
Research and Markets’ Global Buy Now Pay Later Market Report 2021 forecasts that BNPL spend will grow by 22.4% from 2021 to 2028, reaching over $20 billion by 2028. In the UK, an FCA survey found that the total value of BNPL transactions in 2020 was £2.7 billion and is expected to grow rapidly by 2024. According to UK consumer protection charity Citizens Advice, 45% of people aged 18 to 34 and 31% of those aged 35 to 54 have used BNPL to make purchases in the last year. And the BBC estimates that approximately 15 million adults in the UK are actively using BNPL, an increase of more than 2 million in 2021.
Looking at BNPL provider data, Afterpay found that retailers using their service had a 50 to 200% increase in basket size. Klarna and Affirm reported a 58% and 87% increase in average orders, respectively. Equifax estimates that BNPL users spend 51% more on clothes each month than online shoppers who pay up front. PayPal launched its BNPL service in October 2020 and in one year has processed over £2.5 billion in payments globally.
The data paints a powerful picture. Unprecedented times caused by the COVID-19 pandemic led to the explosive growth of BNPL at a time when many people were experiencing financial uncertainty and needed an easily accessible form of credit.
THE PROBLEMS FOR CONSUMERS
BNPL clearly fills a gap in the market, and consumers welcome the convenience, flexibility and allure of interest-free credit. However, the rapid growth, with no regulatory framework, has led to a lack of uniformity in the market. The differences in product offerings, terms of use and the many providers and business models can be confusing for consumers. As with other forms of credit, there are risks for consumers, and the BNPL industry must manage these appropriately.
Because the market is currently unregulated, BNPL providers are not obligated to perform full affordability checks on consumers, and users can accumulate debt across multiple lenders. In many cases, users see this as a technology innovation and don’t realise they are taking out a credit agreement and could be referred to debt collectors if payments are missed. Citizens Advice reported that consumers were charged £39 million in late fees over a one-year period. Of those who were referred to a debt collector for missed payments, 96% said there had been negative consequences.
These statistics justify the concern that many consumers are spending more than they can afford on non-essential purchases while unable to pay essential bills, causing spiralling consumer debt. The voices calling for tighter controls and market regulation are getting louder.
THE REGULATORY GAVEL
As concerns about consumer debt increases, the UK Financial Conduct Authority (FCA) commissioned a review, led by Christopher Woolard, which found that “BNPL represents significant potential consumer harm”, such as its promotion to consumers, poor consumer understanding of the product, lack of affordability assessments and inconsistent treatment of customers in financial difficulty. The Woolard Review recommended that the industry be regulated to ensure better protection for users, and the FCA is currently undergoing a consultation process to define the regulation framework.
FCA regulation will protect consumers and position BNPL as a sustainable product with more transparency and greater checks for credit risk and affordability, bringing it on par with other credit products, such as credit cards. It will ensure that people are treated fairly and provided with clear information to ensure they can make informed choices about whether they want to use the product. As a credit product, BNPL should be appropriately regulated to protect all users.
Many countries, including the UK, the European Union, the USA, Australia and New Zealand, have raised concerns about consumer debt and are actively looking into passing new regulations for BNPL. I predict that as more data becomes available and the debt crisis rears its ugly head, more countries will follow suit.THE CHANGING FACE OF BNPL
As the market becomes increasingly saturated with major banks, payment schemes and new entrants competing for market share, BNPL growth is extending across markets to banking, luxury retail, travel, hospitality, insurance, trading, healthcare, and the list is growing. Many global retailers are building their own in-house solutions with the aim of protecting their customer base and better controlling the services they provide.
Others are forming partnerships or making acquisitions to build out their own services, such as Amazon’s partnership with Affirm and Square’s acquisition of AfterPay. As competition heats up and the market expands, it becomes even more critical that the industry is regulated and brought in line with other credit products.
Will regulation burst this expanding bubble? Time will tell, but it seems safe to say that it won’t! During the pandemic, BNPL enabled significant strides towards financial inclusion, and its impact should not be underestimated. Yes, regulation will curb over-spending as stronger credit risk and affordability checks are implemented, but consumers will continue to use BNPL because of the convenience it provides.
TECHNOLOGICAL IMPACT OF BNPL REGULATION
Regulation will play a great part in shaping BNPL innovation and the emergence of new technologies and products, which will bring new opportunities and challenges. For businesses to compete and gain sustainable competitive advantage, they must have the right technology to power these products.
For example, to provide a seamless and secure customer experience while also increasing affordability checks to protect consumers and enable them to make informed purchasing decisions, payment fraud systems must have the ability to analyse data in real time and generate accurate credit risk predictions without sacrificing the merchant checkout experience. This will require powerful predictive risk analytics capabilities and machine learning algorithms to develop and test new credit and risk models. Open Banking can play an important part in sharing wage and income data to enable businesses to make more accurate lending decisions and develop bespoke credit offerings.
Consumer demands will accelerate the growth of instalment products as banks and fintechs develop new bespoke and customisable solutions. We are already seeing this with Barclaycard, Monzo and Revolut and even Visa, Mastercard and Amex instalment programs. Big BNPL providers, such as Klarna, AfterPay and Affirm, could use their significant amounts of consumer spend data to develop personalised financial services products and super apps to help consumers better manage their lives.
FINALLY …If regulation can strike a balance between consumer protection and innovation, where the risk of financial hardship is balanced against BNPL benefits, it would certainly have a positive impact on the consumer credit market and beyond. However, regulation will not happen overnight, as the industry will need time to implement compliance requirements and technology changes.What is clear though, is that BNPL innovation is continuing apace across industries, even to trading and cryptocurrency platforms, and there must be the right technology to power these innovations and the appropriate regulatory oversight to protect consumers.
Annmarie is a Payments leader with 25+ years of experience in Payments, Banking, and Fintech. Passionate about payments innovation, she specializes in payments processing, solution delivery, and consultancy. With an MBA in business and expertise in technology, she is a trusted advisor to clients, who appreciate her ‘big picture’ view…
Hiring an experience copywriter is expensive and then waiting for the copy to be written painstaking hard because you needed it yesterday, right!Now you can try doing it yourself…But… this is hard if you don’t have a proven and successful framework to operate from… or any knowledge of what to write about….and then there is this occasional WRITERS’ BLOCK…
Isn’t there a BETTER SOLUTION for inexperience copywriters to write some quality copy on a budget to get more followers, leads and sales? KlickXCopy, your personal copywriting assistant powered by proven Copywriting Frameworks and Artificial Intelligence. All you need to do select the type of content you want to create and type in a couple keywords.Yes it’s that simple… actually… most of the copy on this page has been created using the power of KlickXCopy!
KlickXCopy really does allow you to fire your content creator. I have used a number of similar products in the past, but the high-quality, on-point content that KlickCopy generates is truly a market-first. KlickXCopy is the perfect tool for me and my clients who want to create high-quality, effective copy for their websites, marketing materials and more.
KlickXCopy took the guesswork out of copywriting, using recognised marketing principles to help me create professional copy that really works. Plus, KlickXCopy was easy to use, so I could get started quickly and easily. I am already recommending KlickXCopy to my clients to help them write better content for their websites, and create landing page scripts, and social media video scripts just to name a few of the uses I have seen KlickXCopy helping me achieve in my day-to-day business.
KlickXCopy has saved me time, and allowed me to create more high quality copy. Which has meant more money for me. Simply put, I highly would highly recommend KlickXCopy as the best copywriting tool I have ever used. With the KlickXCopy Copywriting Engine XCopy.ai you can write a complete eBook in under 24 hours, PLUS ALL the sales & Marketing Material to Capture LEADS & SALES from your audiences.
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Ripple CEO Brad Garlinghouse explains a key reason he wanted to participate in the World Economic Forum in Switzerland. Brad Garlinghouse, the CEO of financial technology company Ripple Labs, argued on Tuesday that the whole cryptocurrency industry “needs to be more transparent.”
Speaking with “Mornings with Maria” from the World Economic Forum in Switzerland, Garlinghouse discussed regulation for the industry, noting that he traveled to Davos for the conference to engage with other CEOs and finance ministers from around the world “to talk about how these technologies can actually solve real world problems, and reduce costs and improve efficiency.”Garlinghouse also addressed volatility in the crypto market on Tuesday.
“There’s no question that regulation around crypto is still trying to find solid footing and finding the right posture for the United States,” Garlinghouse said before arguing that “the United States has really been behind other G-20 of markets,” including the U.K., Switzerland and Singapore.
He said that those markets “have led in establishing a framework that works for investors as well as entrepreneurs who are taking advantage of the new technologies and building the next generations of Google and Facebook.”
EXCHANGE TRADED CONCEPTS TRUST BITWISE CRYPTO INNOVATORS E
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Along with the stock market, bitcoin has experienced a lot of volatility recently. Two weeks ago, bitcoin plunged to the $25,000 level, its lowest since December 2020, then bounced back over $30,000, according to CoinDesk. As of Tuesday morning, the crypto was trading around the $29,000 level, down from its all-time high of over $68,000 reached in November 2021.
The crypto is down more than 36% year-to-date.“There’s no question there’s been a lot of turbulence in the crypto market,” Garlinghouse said, noting that “if you zoom out, though, over the last two years, you have to remember that bitcoin was at about $8,000 two years ago. Today it’s around $30,000.”
Brad Garlinghouse, the CEO of financial technology company Ripple Labs, discussed regulation and volatility in the cryptocurrency markets from the World Economic Forum in Davos, Switzerland. “This is a new market,” he continued. “There’s certainly been a lot of excitement about what’s going on in the market [and] sometimes that excitement gets ahead of the reality.”
“We’ve been focused on how do we use technologies to solve real problems for customers and those are the kind of solutions that will scale regardless of the turbulence and volatility of the market,” he went on to argue.
The expectation now is that the Fed will take aggressive action to try and curb inflation, which remains near 40-year highs, according to the data for April released earlier this month, which has reduced investor appetite to hold assets perceived as higher risk.
Adding to more fears of volatility in the crypto market was the decoupling of the TerraUSD, a stablecoin whose value was tied to $1, the Wall Street Journal reported. The world’s largest stablecoin by market cap, tether, also briefly edged down from its $1 peg. Garlinghouse pointed out on Tuesday that “stablecoins have been in the news because that was one of the catalysts that really drove the market a couple of weeks ago.”
Stablecoins are digital currencies with values that are pegged to traditional assets, like the dollar, another currency or gold. Its correspondence with the dollar is what, in theory, makes it stable. However, volatility in the crypto market last week challenged that presumption.
Brad Garlinghouse, the CEO of financial technology company Ripple Labs, discusses the turbulance in the crypto market from the World Economic Forum in Switzerland. “I think now more than ever the transparency that companies like Ripple have championed across the crypto industry is critical,” Garlinghouse told host Maria Bartiromo.
“That transparency for tether I think is to really make sure the people participating feel, buy and have access to whatever financial information they need to feel comfortable that it is in fact dollar-backed.”
U.S. Treasury Secretary Janet Yellen told a House committee hearing earlier this month that the sharp drop in crypto markets highlighted the need for additional federal regulation to respond to the wave of speculative investment in the currency whose secrecy is a major part of its attraction. In addition, a top official at the SEC indicated that tighter rules around crypto stablecoins could be drawing closer, Reuters reported.
Hiring an experience copywriter is expensive and then waiting for the copy to be written painstaking hard because you needed it yesterday, right!Now you can try doing it yourself. But… this is hard if you don’t have a proven and successful framework to operate from… or any knowledge of what to write about. And then there is this occasional WRITERS’ BLOCK…
