Make it Easy for Debtors to Pay with Payscout’s Accounts Receivable Collections Software

Young couple paying bill online

Increase efficiency without impacting your live agents with Condor, the new payment portal that facilitates payment processing transactions between you and your debtors. This evolved, frictionless payment solution from Payscout will free your focus so you can dedicate where it’s needed.

Payscout is committed to providing clients with systems that keep them ahead of emerging trends. A thought leader in the payments industry, Payscout wants to help you thrive with payment processing that works for you. Their mission is to support the entrepreneurial dream one transaction at a time; they do this by connecting merchants and consumers via credit, debit, ATM, and accounts receivable collections software.

Condor is built upon Payscout’s payment processing platform and offers self-serve bill payment options that can be accessed anytime, anywhere. Debtors can view their current account information while setting up payment arrangements in real-time via a secure, verified login.

Featuring customizable parameters to meet individual business needs, the Condor portal is available as a mobile-enabled website, IVR, or a combination of the two, allowing you to choose an option best suited to your business. Bring order and efficiency to the incredibly cumbersome collections process with Payscout.

Condor helps streamline Accounts Receivable Management through an efficient, mobile-enabled web portal for self-service payments. Debtors have access to:

  • Consumer identification
  • Minimum payments
  • Acceptable payment plan
  • Settlement terms

Condor connects directly to Payscout’s gateway for immediate approvals and customized API connection for real-time data transfer.

Payscout is a global payment processing provider and a thought leader in the payments industry. Their “Go Global Now” technology platform gives merchants instant access to 100+ countries, billions of consumers, and trillions of dollars. Payscout offers payment processing solutions for brick-and-mortar and e-commerce transactions, and it is one of the few providers to deliver a truly global international payment processing solution that encompasses all merchant risk verticals.

With Payscout, you’ll experience no set-up or activation fees, no annual fee, and no cancellation fees.

Increase efficiency and revenue by providing a frictionless payment option from Payscout at www.payscout.com.

 

 

Expand Your Nonprofit’s Mission with Mobile Payment Processing

Online Donations through Pyascout's mobile payment processing

If you own or work for a nonprofit organization, give an impetus to your organization’s growth and mission by embracing technology. Mobile payment processing for one, has the potential to boost online and reoccurring donations, driving your mission further.

Paying online and via mobile are quickly becoming the preferred method of payment for Americans; this is especially true for millennials. As a nonprofit organization, millennials should be among your most targeted groups. Millennials are disrupting traditional giving; while they frequently give (even more so than other generations), they expect certain things before deciding to part with their funds.

Online giving, for example, is an area that millennials are shaping. In 2016, overall giving grew a measly one percent, but online donations (according to Blackbaud’s annual giving report) grew nearly eight percent in one year. The influence of the millennial generation is becoming, and will continue to become, a necessary resource for the nonprofit community. By embracing mobile payment processing technology, you open your organization to great opportunities, such as:

1. Enable online donations

By offering donors the opportunity to donate online, they are more likely to complete the donation process completely. Donors that give online or via mobile are also more likely to give recurring donations to organizations they favor. Having an online forum will also reduce the amount you spend on marketing materials, as there will be no need to send donation cards and reminder cards when they can simply donate online.

2. Increased donation amounts

People spend differently on credit cards than they do with money in their wallet. They are more apt to be generous (especially in cases where there is a return, i.e. credit card air miles). A properly crafted online giving forum could leave you with higher donation amounts for your mission.

3. Sell tickets

If you have a special event or yearly fundraiser that you encourage donors to attend, selling tickets online will save you time and money. Again, people are more likely to purchase online than they are in person. Non-profit payment processing technology will make filing your 1099 and special event accounting much easier as you’ll be using an easy, trackable system.

4. Merchandise opportunity

Donors are passionate about the causes they care about, and most will happily showcase that support. If your donation platform subsists online, you can give donors the opportunity to further support your organization with branded merchandise that provides you with free awareness of your nonprofit.

5. Heightened security

Standards known as PCI Compliance are now required annually by all organizations involved in the handling, processing, management or storage or cardholder data. Since 2006, the PCI SSC’s resulting data security standards (PCI DSS) have assisted merchants globally with best business practices to better secure customer cardholder data through annual updates to the PCI DSS.

With each new iteration of the standards, the PCI SSC addresses changes in risks and technologies to ensure merchants are well equipped to handle all scenarios around data security risks that may affect them. This means that your donors and information will be protected with a PCI-compliant payment processing company.

About Payscout

Payscout is a global payment processing provider covering six continents and connecting merchants and consumers via credit, debit, ATM, and alternative payment networks. They are experienced in assisting the nonprofit community. Payscout makes it easy to simplify and manage payment processing so you can quickly put donations to work at your organization.  Payscout will streamline the donation process for you whether you accept donations online, onsite, or via mobile. They can even keep your utilities on track with utility payment processing.

Discover how to mobilize your donations at www.payscout.com

 

 

Payscout’s Erica Boatman-Dixon Recognized by the Jefferson Awards Foundation

Erica from Payscout at JAF

In support of our Belief that every individual has a social responsibility to make the world a better place, Payscout serves as a Champion with the Jefferson Award Foundation (JAF), the nation’s most prestigious and longest-standing organization dedicated to inspiring and celebrating public service.  

Each Champion organization is given the opportunity to select one employee as its outstanding employee volunteer of the year.  

This year, Erica Boatman-Dixon was selected for her volunteer efforts, which include organizing activities for Students in Action at Van Nuys Middle School and working on Lead 360 activations and overall support of the Greater Los Angeles JAF team. As a reward for being selected as the employee volunteer of the year, Erica had the opportunity to travel to Washington, DC, to attend the annual JAF National Ceremony, the gathering of national leaders, grassroots heroes, and Students in Action Teams to celebrate the best of public service in America.  The National Ceremony activities took place from June 27 through June 29 and provided an opportunity to connect with other JAF Champion award recipients, community and celebrity award recipients, Students In Action teams and media partner award recipients.  

Recipients were given the opportunity to take a tour of many of the historical monuments in the National Mall on Wednesday evening to get to know one another.  On Thursday morning a Welcome Breakfast was held giving each award recipient the opportunity to address attendees and share their story. “There were numerous stories of triumph over tragedy and how loss compelled people to give back to the community,” said Erica. “We need a Welcome Breakfast like this every day,” she added.  

During the afternoon recipients had a chance to visit their Senator or Representative.  The California contingent visiting the offices of Senators Kamala Harris and Dianne Feinstein included:  the Greater Los Angeles SIA competition winning student team from Sage Oak and the students from the Convent & Stuart Hall Schools of the Sacred Heart in San Francisco, JAF Greater Los Angeles Executive Director Myla Rahman, San Francisco Program Manager Kim Bonney, and two award recipients from San Francisco, recognized for their efforts for assisting homeless women sleeping in their vehicles in Monterey and providing gifts for less fortunate children during the holiday season.  Though Ms. Harris and Ms. Feinstein were unable to attend the meetings, the opportunity to share information about community outreach efforts with representatives from each Senator’s office was exciting for all involved.

The day culminated with the evening Gala, a ceremony honoring the best of the best.  This year’s honorees were: Abbie Nelson & Pia Phillips (recognized for outstanding public service by individuals 25 years or younger – for their creation of PAB’s Packs – custom designed backpacks filled with comfort items to teenagers with a chronic diagnosis or repeat hospital visits); Elaine Wynn (recognized for outstanding public service by a private citizen); Philadelphia Eagles Defensive End Chris Long (recognized for outstanding public service in professional sports – Chris donated his entire 2017 base salary, worth $1 million, to benefit educational charities).  In addition, five individuals were presented with the Jacqueline Kennedy Onassis Award for their contributions,

Each Students In Action team that earned the trip to Washington, DC was also eligible for national recognition for their overall achievements.  Though this was their first time participating in Students In Action, Sage Oak earned a bronze level banner for their efforts. An outstanding achievement for the small, but talented group of middle school students of whom we are extremely proud.  Way to go, Sage Oak! Jefferson Awards Foundation CEO Hillary Schaefer closed the National Awards with the following, “ … everyone around you is a powerful reminder of the best spirit of America. Each of us in this room knows that people can realize their true power through service to others.  It is incumbent on all of us to multiply service and multiply the good that it does. We are proud of being at the center of that for 46 years.”

For more information on the Jefferson Awards Foundation and how you can get involved, visit jeffersonawards.org.  

Congratulations to Erica, the students from Sage Oak, and all award recipients.  Payscout will continue to #CelebrateGood with the Jefferson Awards Foundation and other organizations that make the world a better place.  Follow our blog for more Payscout Gives employee engagement and activities.

How to identify a millennial?

 

 

Who are millennials?

There’s a lot written about millennials and how important they can be to businesses and economies. However, before crafting a business plan targeting millennials, let’s try to understand who millennials are.

The word ‘millennial’ in itself is elusive and it’s often unclear what age bracket they belong to.

Additionally, targeting a millennial is not an easy task. Thanks to rapid development in technology, this is a cohort that is connected to multiple devices and has multiple channels of communication at their disposal. Their ways of social interaction are distinctly different from the other generations. So are their value systems and beliefs.

Read on to know more.

How old are they?

The definition of millennials varies across the board. The general range of their year of birth is between the late 1970s and early 2000s. For the sake of simplicity, we assume that millennials are those who are born between 1980 and 2000. They constitute about 80 million people, a  little over a quarter of the total US population. They’ve surpassed the baby boomers, in terms of population, making them the largest generation in the US.

Read about millennials’ mobile bill payment habits here.

How are they?

Millennials have grown up with technology. They’re hyperconnected and “always on”. An attribute that they associate with the most is speed – think instant messenger (Facebook messenger), cab (Uber), food (Uber Eats), clothes (Amazon), movies (Netflix) – all of it is literally a click away for this new generation. They possibly do not know how to do things the other way.

They’re not the ones to jump through hoops to acquire a product or service. The internet also makes sure that they’re spoilt for choice. This means that if your website doesn’t have an easy way to check-out or if there’s no easy way to book an appointment or if your shipment is going to take too long, they would exit your page almost immediately and find the next alternate.

Attributes of speed and instant gratification often give birth to stereotypes associated with millennials such as those of them being privileged, selfish or lazy, living in their parents’ basements. Sure, they can be very demanding customers but by no means are they selfish or lazy.

In fact, millennials are the most educated of all the generations in the US right now. They value themselves as much as they value the society and the world around them. They want to make the world a better place to live in.

Moreover, millennials are a “hyper-connected” generation. They enjoy sharing their lives and thoughts with their peers. At the same time, they also seek validation and social acceptance from them.

How do they interact with brands?

Direct advertising doesn’t necessarily compel millennials to buy products. According to a study by Hubspot,  84% of them do not even trust traditional advertising. One sided-communication by a brand through direct advertising is a thing of the past. It doesn’t compel millennials to make a purchase.

They need to engage with a brand and trust them before making a purchase. Millennials are also smart shoppers. They try to acquire as much information about a product before buying them. Online reviews play a vital role of taking your millennial from “consideration” to “purchase” leg of their customer journey.

Funnily enough, online reviews have become so important that you will find millennials evaluate products at a store and then check reviews and prices online to make sure they get the best deal.

They also seek peer reviews. Reviews from friends can have a huge impact on the decision making process. Endorsements from friends and peers has given way to influencer marketing. This is important to your business because partnering with the right influencers can directly increase sales.

Moreover, millennials’ strong belief system makes them appreciate a brand that shares their value of making the world a better place.

Clearly, brand trust emanates from reviews or opinions shared by their peers and influencers as well as the brand’s own ethos.

At last count, millennials accounted for $1.3 trillion of annual spending, of which $430 was discretionary.

The sheer number of millennials and their spending power make them worthy candidates of your business.

Tell us in the comments section, do you sells products or services to millennials? How are they different from your other customers?

Millennials and their impact on mobile bill payments

Millennials and their need for mobile bill payments

Now that you know how to identify a millennial, let’s have a look at their smartphone usage behaviors and how that’s shaping mobile bill payments.

Our end goal is to help you develop a deep understanding of your target audience before you curate a mobile bill payment strategy for millennials.

Millennials love their smartphones

At least 97% of them have one, according to a Nielsen study. Over half of them spend at least 3 hours a day on their phones.

A study by Comscore on mobile app usage states that the app that millennials “can’t go without”  is Amazon, followed closely by Gmail, Facebook, Facebook messenger, and Youtube. In fact, the Amazon app is also on the homescreen for easy access. Studies have shown how that the position of an app in the phone correlates strongly with how often it is used.

This finding about Amazon is counter intuitive as one would like to believe millennials love their social media apps the most. This is also indicative of how open millennials are to the idea of shopping on their phone. Furthermore, it challenges the common notion that customers do not complete purchases on their phones.

How are millennials paying their bills?

A recent study indicated how online bill payments has gained traction over the years, all thanks to millennials. Bill payment habits vary between generations. The number of people paying bills by mail has been on a decline consistently. Only 15% of millennials pay their bills through mail as opposed to 40% of seniors and 29% of baby boomers. Moreover, 44% of millennials use the biller’s website to make bill payments.

This serves as a crucial insight for businesses that rely heavily on regular bill payments such as the internet, phone, healthcare companies, utilities or insurance companies. Facilitating an easy online payment method would also ensure timely payments and higher collection.

It is also fair to assume that someone making purchases on their phone routinely is also likely to pay bills on their phone.

In fact, according to a recent study, 38% of millennials use mobile apps and tools to make bill payments. 21% of them have never even written a check.

What’s interesting is that amongst all generations, millennials are most likely to pay their bills late because of higher debts and slow economic growth. It becomes all the more important for you to relook at how you collect bills and live up to the expectations of millennials.

Tell us in the comments section, what is your take on mobile payments? Do you think it will it has the potential to surpass other forms of payments?

Learn about Payscout’s bill payment solution for millennials here.