A Little Cultural Empathy Goes a Long Way!

For those merchants who’ve never branched outside of the United States to sell products before, or those considering entry into a new global market, the idea can be a bit daunting. While language barriers are one of the more obvious things to consider when a company is looking into what it takes to sell products abroad, even English speaking foreign countries such as Australia, the U.K., and Canada, all have other cultural and regulatory management issues to address before a successful business model can be established there. Clearly, the amount of investment depends on which geographic areas are targeted, what products are being sold, and how aggressive a company wants to pursue business, but the more comfortable a merchant is up-front with the cultural requirements they will need to meet, the more efficient and successful they will be in the long run.

The exchange of foreign currencies, special regulatory guidelines, licensing, compliance, and risk management are all on the list of important considerations when you are analyzing a particular foreign market. Not to mention, economic strengths and weaknesses, political issues which could be brewing, or even good old fashioned marketability. How does a company approach all these key touch points knowledgeably without getting overwhelmed? Payscout suggests leaning on the one vendor you know you won’t be able to live without; an electronic payments partner who is already well threaded through the global buying network and experienced with the worldwide business landscape. A merchant services provider who has already proven they have a foothold on a country’s landscape and understand the requirements for inbound merchants. This one decision will provide you with the cultural empathy you need to navigate across political and geographical lines without risking profitability.

While the list of risks might seem to outweigh the benefits at times, Payscout leaders feel this an opportune time for business owners to embrace their entrepreneurial spirit, and take bold steps to expand internationally. It’s no secret, online sales worldwide have been predicted to grow exponentially in the coming years by global economists and market research firms due to growing consumer adoption of online and mobile commerce. A fact, Payscout is betting on as they roll out their latest “Go Global Now” initiative to help present and future merchants comfortably take advantage of the ripe global business climate and make the wisest international business decisions.

Payscout has the experience, knowledge and consultative approach to give you everything you need to expand across the cultural divide in an efficient, pleasant, focused, and empathetic way.

In fact, Payscout is even prepared to walk you through every step of the planning process, and give you the expert advice you need to assess which foreign markets are best for your particular business model and product.

Payscout merchant service representatives will not only help you get a working payment system set-up for accepting foreign currencies, but they’ll also counsel you on when the right time is to pursue international incorporation, guide you through foreign regulatory requirements, and give you sound advice on what it will take to market your products effectively to unknown groups of consumers.

It is an exciting time for U.S. merchants who want to branch out beyond their current domestic boundaries! However, Payscout cautions merchants to take the time to consult with the right professionals who have a legitimate hands-on sense of existing foreign markets.

Payscout has been monitoring the global marketplace closely for many years, and they are seeing countries which were once closed to online business or operating under stern eCommerce restrictions, now opening up to the idea of online commerce. Several of them, such as Brazil and China, have even stepped into the lead and are expected to stay frontrunners in the online purchasing market for many years to come.

If you are an enterprising U.S. merchant considering when and how to take your business global, Payscout can help you plant roots overseas without any hitches or hiccups. Call us today at 1-888-689-6088 for a free global commerce consultation or apply online.

Go Global Now!

If you aren’t selling your products in foreign markets yet, you could be missing out on the biggest consumer buying trend the world has seen since the advent of eCommerce. Online shopping is now considered a norm in the culture of many countries, with several foreign markets now leading the pack year-over-year in eCommerce sales. As the rising usage of smartphones and tablets for purchasing continues to add fuel to this fire, Payscout is counseling its merchants to jump on the global bandwagon, and take advantage of all these emerging interests.

The practice of online selling has come far from where it began; as a simple, online ordering page for local pizza delivery. Today, anyone can order a gourmet pizza from New York, and request it be delivered anywhere in the world! Of course, pizza is only one of the many millions of products available for purchase online today, and the eCommerce ecosystem is still gaining strength. Online sales have been tagged by research experts and economists alike as today’s driving force behind retail growth, and consumers continue to favor eCommerce more every year as a preferred method for doing business. Online sales worldwide are predicted to grow exponentially in the coming years, with eCommerce revenues expected to reach 1.6 trillion by the end of 2015.

Moreover, countries which once were closed to online business or operating under stern eCommerce restrictions are now beginning to embrace online commerce. Even several of them who’ve been thought to be nearly impenetrable have now stepped into a lead role as global eCommerce frontrunners. Countries such as Brazil and China, which have traditionally been difficult regions for establishing turn-key online sales programs, are now being named rapidly emerging global markets for eCommerce and mCommerce sales by economic experts.

This is opening doors to many enterprising U.S. merchants who have been considering when and how to take their business model global. With its multi-country presence, and a firm commitment to supporting the entrepreneurial dream one transaction at a time, Payscout is well positioned to help these companies learn the lay of the land and successfully launch into emerging foreign markets.

Offering merchants the benefits of a unique cultural empathy and an established footprint in many of these markets, Payscout’s deep cultural awareness and insights have enabled many merchants to set-up and run turnkey eCommerce operations in global economies. With years of experience resolving both real and perceived barriers to entry in foreign commerce markets, Payscout will expertly guide merchants through the process and to the resources for easily navigating regulatory, exchange, language, risk, and compliance matters. Thereby, ensuring a client is up-and-running in a foreign market and selling to consumers quickly, efficiently and seamlessly.

If you are ready to explore whether your company is suited to sell on the global commerce frontier, Payscout has representatives standing by to help you research each foreign market, and determine best practices for launching a branded product presence there.

Call us today at 1-888-689-6088 for a free consultation or apply online.

Merchant Account Basics

If you want to accept credit or debit card transactions as a business, you will need to have a merchant account. Merchant accounts are a business arrangement between you and a credit card processor that allows you to accept card-based payments from your customers. Those payments are then deposited into your bank account by the credit card processor after the sales are complete.

There are two basic types of merchant account; one for card-present transactions and one for card-not-present transactions. A merchant account for card-present transactions is used when the credit card and cardholder are physically present at the time of the sale and the card is swiped through a credit card terminal, or via a mobile card-swipe device. A merchant account for card-not-present transactions is used when neither the card nor the cardholder are present for the sale, as is typical in eCommerce sales.

You will have to get an application approved by a credit card processer in order to get a merchant account. The processer outfits you with the products and services you need to accept card-based transactions, including hardware and software.

The credit card processor acts as a middleman between you and the issuing bank. When the bank authorizes a customer’s transaction, the transaction amount is credited to your merchant account by the processor. At the end of the day, you settle all of your transactions in one batch with the processor, who deposits the funds into your bank account typically within two days.

By partnering with a credit card processer like Payscout, you will never again have to turn away business, because you can’t accept card payments. You also get to enjoy the benefits of working with an international company while still receiving dedicated attention, honest dealing, and genuine appreciation from the Payscout team. We’ll treat your business with respect and professionalism, setting up your service quickly, with ready support every step of the way.

Check out our website for more information on merchant accounts or contact our helpful, live customer service representative at 888-689-6088 to address any questions you may have!

Tips for Avoiding Credit Card Fraud

 

Fraud is one of the major issues faced by many credit card owners today. Millions of dollars are lost to credit card fraud each year, with no sign of this trend decreasing. High profile security breaches on organizations like Target and T-Mobile prove that even companies that invest in the best security possible can fall victim to theft and fraud.

So, how can an everyday person protect their identity and prevent fraud? There may be no surefire way to prevent credit card fraud, but there are certainly steps you can take to protect yourself. Try following these three tips to cut down on your chances of falling victim to credit card fraud.

1. Keep Your Card Secured

This might seem obvious, but many people fall victim to fraud after first falling victim to theft. Never leave your credit cards in a place that could be accessed by thieves, like in a desk drawer or in your car’s glove box. Remember, a thief does not need your pin number to withdraw money from an ATM using your credit card, and they can ring up a big bill buying things online. It is best to keep your credit card on your person, either in your wallet or purse, at all times to keep it out of the hands of potential thieves.

2. Don’t Share Your Credit Card Information

The golden rule in avoiding credit card fraud is to not share your credit card information with anyone. It is extremely easy to shop online, and providing online retailers with your credit card information has almost become second nature to some. However, you need to be careful about who you shop with. Make sure you are using a legitimate merchant site and check the website’s credibility before you buy. You also should be cautious about providing your information over the phone, as telephone scams are rampant. Remember, if a deal sounds too good to be true, it usually is.

3. Review Your Billing Statements

There are times when credit card thieves withdraw small amounts of cash from many different bank accounts hoping that their victims never notice the discrepancy. That is why it is so important to review your monthly bank and credit card statements, and equally as important to report any spending you do not remember or have no record of.