Use Case: Nonprofit Uses VR to Raise $2.4M in One Evening

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Charity: Water, an international nonprofit that provides clean and safe drinking water to people in developing countries, used an immersive virtual reality experience to raise $2.4 million dollars in one evening at a black-tie fundraising banquet at the Metropolitan Museum of Art in New York.

Those who live and work in the world of virtual reality have long believed in the power of the medium to evoke empathy in immersive experiences.  A use case from Charity: Water is showing just how far that empathy can go when it comes to fundraising for nonprofit causes.

The Source is a 360-degree video that chronicles a week in the life of Selam, a 13 year-old Ethiopian girl whose family gains access to clean water for the first time in her life. The film was commissioned by Charity: Water, and was shown using Samsung Gear VR headsets to 400 attendees of the nonprofit’s annual event before  the fundraising portion of the evening began.

One donor, who had already committed to giving $60,000 to Charity: Water, was so moved by the VR experience that he donated $400,000  instead – more than 6x above his original pledge.

What is particularly intriguing about the impact of the immersive experience on donor conversions in this use case is that there was no frictionless donation mechanism available, meaning the event attendees had to take the headset off and determine their donation amount after the experience had ended.

Payscout, a leading payments ingenuity company, recently announced the world’s first non-profit donation in virtual reality at CES . What is so compelling about VR as a storytelling medium is that it places the viewer at the center of the experience and fully immerses them in the world of the story. There are no distractions or interruptions in that world – and through Payscout’s innovative VR Commerce solution, non-profits can now enable frictionless donations while the viewer remains in the 360-degree experience.

As more use cases for VR emerge, the world will continue to see the power of immersive experiences to evoke empathy. In parallel, frictionless payments will enable even higher conversion rates (and reduce “shopping cart abandonment”) by enabling donations within the experiences.

Click here to read more about the revolutionary world of VR Commerce. 

VR Commerce at CES, NRF, and iConnect

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In January 2018, Payscout announced the world’s first live donation in virtual reality at CES, showcased  a retail application of VR Commerce with Visa at NRF, and spoke about the future of the consumer experience in VR at The Clorox Company’s iConnect event in San Francisco.

Payscout CEO Cleveland Brown stood on stage at CES’ Digital Money Forum in Las Vegas last month and announced the world’s first donation in virtual reality. The donation was made to The Jefferson Awards Foundation, a national nonprofit for whom Payscout is the first Champion in the greater Los Angeles region. 

One week later, Payscout joined Visa at the National Retail Federation’s NRF “The Big Show” in New York City to showcase a retail application of VR Commerce for hundreds of attendees – including Visa   CEO Al Kelly:

Just a few days later, VR Commerce was again on display, this time at The Clorox Company’s 2018 iConnect event  in San Francisco, where Payscout COO Juan Sotelo  spoke  in a breakout session on,   “How AR & VR Will Shape Commerce.” Sotelo also demoed Payscout’s VR Commerce retail use case  for some of The Clorox Company’s key partners and clients. 

Click here to read more about the revolutionary world of VR Commerce. 

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CES: VR/AR and the Future of Digital Money

On Tuesday, January 9, Payscout CEO Cleveland Brown is speaking at CES as part of the Digital Money Forum’s Leaders in Digital Money session. The Leaders in Digital Money session at CES will feature four cutting-edge ideas about the future of digital money that are poised to change the world in 2018. Payscout CEO Cleveland Brown is delivering a TED Talk-style presentation on virtual reality and the role of digital money. Also presenting during the session are IBM VP of Global Blockchain Market Development, Jesse Lund, and Clinc CEO Dr. Jason Mars. The talks will be moderated by Chris Feeney, the President of BITS, the technology policy division of the Financial Services Roundtable. CES (formerly an acronym for the Consumer Electronics Show) is one of the world’s largest annual trade shows and is organized by the Consumer Technology Association. The Digital Money Forum at CES features a host of riveting programming on digital currencies, the decline of cash, and the role of financial institutions and government in instilling trust in digital currencies for consumers. The Leaders in Digital Money discussion featuring Cleveland Brown will be held on Tuesday, January 9, from 11:30-12:30 at the Venetian in Las Vegas, Level 4, Lando Room 4302.

#13 Fastest-Growing Company in LA

Payscout, a Sherman Oaks, CA-based payments innovation company, has been honored as the #13 Fastest-Growing Company in LA by the Los Angeles Business Journal.  This is Payscout’s third-consecutive year on the list.  Payscout has been among the fastest-growing, privately held companies in Los Angeles for three consecutive years.  The Los Angeles Business Journal’s annual fastest-growing list featured Payscout at #13 in LA for 2017.  This is a remarkable achievement, not only because of the challenges associated with maintaining triple-digit percentage growth year-over-year, but also because of the setting in which it was accomplished.  Los Angeles is among the most desirable and fastest-growing parts of the world for tech-based companies.  Silicon Beach, the Westside region of LA that stretches from LAX to the Santa Monica Mountains, is home to over 500 tech startup companies.  As a payments innovation company, Payscout’s exponential growth can be attributed to five layers of innovation:

Culture: Payscout’s Award-Winning Culture has been ranked #17 among Medium-Sized Businesses by Entrepreneur Magazine, and #1 among Financial Services companies

Global/Alternative Payments: The Payscout “Go Global Now” technology platform provides one integration point for merchants to access 100+ countries, billions of consumers, and trillions of dollars;

VR/XR/New Acceptance: Payscout is the first company in the world to execute live payment transactions tied to the fulfillment of physical goods in virtual reality

Security: Our best-in-class fraud solution, Gumshoe, is a flexible fraud and risk middleware solution that delivers comprehensive KYC and risk mitigation in a stand-alone monitoring and management tool

Regulation: Payscout actively engages with regulatory stakeholders to drive innovative Regulatory Technology (RegTech) solutions reflected in policies, processes, and systems.

Topics: Global eCommerce, Credit and Debit Card Processing, Growth

Efficient Payments for ARM

Payscout specializes in providing best-in-class payment processing solutions for the accounts receivable management (ARM) industry. These solutions have helped Payscout’s top ARM clients grow more than 33% year-over-year.  Payscout, a leading payments innovation company, provides solutions that power entrepreneurs in a myriad of industries, from retail, non-profit, money services businesses (MSB), and even marketplaces.  One of the verticals in which Payscout’s partners thrive is the accounts receivable management (ARM) industry.  Accounts receivable, as a whole, plays a critical role in a credit-based economy.  The entrepreneurs who support the system provide reliable, efficient payment mechanisms to enable frictionless debt payments.  The reason Payscout’s ARM partners thrive is because their technological solutions are built on Integrity and Trust, Reliability, and Innovation.  In the ARM space, innovation enables more efficient payments, and as a market-leader in innovative payment solutions, it’s no surprise Payscout’s partners continue to thrive.  Payscout’s helping their top partners in the ARM space grow by over 33% a year.  Are you ready for that kind of growth?

Contact Payscout today for your free rate analysis and to learn more about our ARM solutions!

Topics: Global eCommerce, Credit and Debit Card Processing, ARM

Jefferson Awards Foundation SIA Training at UCLA

Payscout partnered with the Jefferson Awards Foundation (JAF) and UCLA to provide leadership training to nearly 140 future leaders from middle and high-school students across the greater Los Angeles area.

As part of the Jefferson Awards Foundation (JAF) Students In Action (SIA) Fall Training program, more than 140 students from middle and high-schools across the greater LA region gathered at UCLA to learn leadership skills and training from local business leaders and entrepreneurs.  This was the first time that the training took place at UCLA.

Payscout Chief Operating Officer (and UCLA alumnus) Juan Sotelo and JAF SIA Regional Program Manager Jackeline Muñoz helped forge the partnership between JAF and UCLA.  In addition to serving as the host site (for all SIA Training sessions for the 2017-2018 school year), several UCLA Sharpe Fellows trained with JAF Globechanger National Director Elizabeth Kennedy, to provide support for the students.

2017 marks the third year of the SIA program in Los Angeles.  Track 2 training was also offered for students who had previously participated in SIA.  The programming for Track 2 featured speakers on Media & Press (George Smith – Payscout); Proposal Writing (Olivia Jamgotchian – Capital Group); My Big Idea (Juan Sotelo – Payscout); and Fundraising (Cynthia Scott – UCLA).   Several employees from the Payscout office volunteered their time, as well, assisting with registration, tech setup, breakfast/lunch coordination, photography and videography.  Students were also treated to a visit by UCLA Mascot, Joe Bruin and an opportunity to enjoy different aspects of the Alumni Center.  The day was an overwhelming success.

Payscout is a proud Champion of the Jefferson Awards Foundation and a supporter of the UCLA Chancellor’s Centennial Campaign.  Participation in these programs supports our Belief, that every individual has a social responsibility to make the world a better place.

Topics: Community Service, Jefferson Awards, JAF, UCLA, UCLA Alumni, Payscout

San Fernando Valley Business Journal: Payscout #3 Fastest-Growing Company

Payscout, a Sherman Oaks, CA-based payments innovation company, has been honored as the #3 Fastest-Growing Company in 2017 by the San Fernando Valley Business Journal.  This is Payscout’s third-consecutive year on the list.

Paysout has been among the fastest-growing, privately held companies in the San Fernando Valley for three consecutive years.

The announcement of Payscout’s 2017 top-three ranking came during the San Fernando Valley Business Journal’s “50 Fastest-Growing Companies” event at the El Caballero Country Club in Tarzana.

Payscout’s exponential year-over-year growth is fueled in part by Payscout’s five layers of innovation:

  1. Culture: Payscout’s Award-Winning Culture, built on Integrity & Trust, has been ranked #17 among Medium-Sized Businesses by Entrepreneur Magazine, and #1 among Financial Services companies.
  2. Global/Alternative Payments: The Payscout “Go Global Now” technology platform provides one integration point for merchants to access 100+ countries, billions of consumers, and trillions of dollars.
  3. VR/XR/New Acceptance: Payscout is the first company in the world to execute live payment transactions tied to the fulfillment of physical goods in virtual reality.
  4. Security: Our best-in-class fraud solution, Gumshoe, is a flexible fraud and risk middleware solution that delivers comprehensive KYC and risk mitigation in a stand-alone monitoring and management tool.
  5. Regulation: Payscout actively engages with regulatory stakeholders to drive innovative Regulatory Technology (RegTech) solutions reflected in our policies, processes and systems.

Payscout to Host Money20/20 Session on VR

On Tuesday, October 24, Payscout CEO Cleveland Brown will host a panel discussion at Money20/20 in Las Vegas on Virtual Reality, Frictionless Payments & Monetization of Immersive Content.

Payscout is the first company in the world to integrate frictionless payments tied to the fulfillment of physical goods in virtual reality.  CEO Cleveland Brown unveiled VR Commerce at Money20/20 Europe in June.  Now, Brown will be back on the Money20/20 stage for the 2017 U.S. event to host a panel discussion on Virtual Reality, Frictionless Payments, and the Monetization of Immersive Content.

Brown will be joined by Visa SVP Internet of Things (IoT) Avin Arumugam; Superdata VP Research & Strategy, Head of XR, Stephanie Llamas; Westfield VP Design & Architecture Trevor Pollard; and The Virtual Reality Company CEO & Co-Founder Guy Primus.

The integration of frictionless payments in virtual reality is poised to revolutionize the consumer experience.  In this interactive session, industry leaders from content creation, payments, retail and innovation share insights into the cutting-edge developments that are enabling frictionless consumer payments in VR.

If you’re attending Money20/20 US, do not miss this panel! It will be held in the Forum (Level 2) on Tuesday, October 24 from 3:10-4:00pm. We will see you there!

Global Ecommerce to Reach $1.84 Trillion in 2017

Global ecommerce remains a tremendous opportunity for enterprising entrepreneurs.  A new report from the Ecommerce Foundation shows global B2C ecommerce will grow by 17% in 2017, reaching $1.84 Trillion by year’s end.

The Ecommerce Foundation, an independent non-profit with a mission to foster global digital trade, has released a report showing the global ecommerce market is continuing to grow at an astounding rate.  According to the report, global ecommerce sales will reach $1.84 Trillion in 2017, up 17% from 2016.

Asia represents the fastest growing segment in the report, rising 20% year-over-year.  Europe comes in at a close second, up 19% from 2016.  In the United States, which is the world’s most advanced ecommerce market, the growth rate in 2017 will reach 10%, according to the report.

“The data shows that we are far from a growth plateau in the global e-commerce market,” said Ecommerce Foundation research coordinator Sara Lone.  “The rate of growth continues to increase, possibly due in large part to healthier economies, improvements to infrastructure and higher rates of cultural acceptance for e-commerce.  As we evolve into a more connected world, with substantially more people accessing the Internet, we see new opportunities to create online shoppers, as well as increase the amount of goods/services online shoppers currently purchase.”

As the amount of goods and services online shoppers purchase continues to grow, so too does the opportunity for ecommerce merchants to expand their businesses.  With international locations in Asia (Shanghai, China) and Europe (where Payscout is now a licensed Financial Institution), Payscout is uniquely positioned to help entrepreneurs leverage the growth of global ecommerce.

Contact Payscout today to Go Global Now with efficient international ecommerce processing!

Payscout Leads Payments Industry Advocacy

Payscout CEO and Co-Founder Cleveland Brown joined the Electronic Transactions Association for their annual Executive Fly-In to engage U.S. legislators and regulators on issues relevant to the payments industry.

On September 13 and 14, 2017, Payscout CEO and Co-Founder Cleveland Brown joined Communications and Content Strategist George Smith for a series of meetings with legislators and regulators to discuss issues affecting the payments community.  Each served as leaders in their respective groups, with Mr. Brown conducting regulatory meetings at the Office of the Comptroller of the Currency, the Consumer Finance Protection Bureau, the Department of the Treasury, and the White House.

While Mr. Brown was speaking with the various regulatory leaders, Mr. Smith was on Capitol Hill engaging legislators at the offices of Rep. Randy Hultgren (R-IL), Rep. Hank Johnson (D-GA), Rep. Tony Cardenas (D-CA), Rep. Austin Scott (R-GA), Rep. Bruce Poliquin (R-ME), and Rep. Drew Ferguson (R-GA).

Following their participation in the ETA’s Executive Fly-In, Payscout sat down with two key members of the Congressional Caucus on Virtual, Augmented, and Mixed Reality Technologies, Rep. Yvette Clarke (D-NY) and Rep. Susan DelBene (D-WA) to demo and discuss Payscout’s VRCommerce solution.

Payscout’s Vision, Mission, and Cultural Attributes are rooted in the Belief that every individual has a social responsibility to make the world a better place.  It is that Belief that compels CEO and Co-Founder Cleveland Brown to continue to take time out of his busy schedule to engage all of the stakeholders in the payments ecosystem – from merchants, consumers, and systems providers, to legislators, regulators, and enforcement agencies – and ensure that the global ecommerce ecosystem continues to power economic growth and prosperity.

Image Captions: Payscout CEO and Co-Founder Cleveland Brown poses with Rep. Susan DelBene (D-WA) [top left] and Rep. Yvette Clarke (D-NY), both among the Co-Chairs of the Congressional Caucus on Virtual, Augmented, and Mixed Reality Technologies.