5 Ways to Turn Consumers into Regular Customers

If you run a retail business, you probably already know that acquiring a new customer can be up to 25 times more expensive than keeping a returning one. With this in mind, keeping your current customers shopping with you time and again is of the utmost importance.

Below are five simple tips to keep your customers shopping happily:

1. Keep in line

Long lines lose customers. Everyone is guilty of abandoning items and exiting the line, determining the price of the purchase was not in fact worth the time to purchase it. By keeping your lines short, you’ll keep customers coming back. This is possible even in the popular pop up markets of today with mobile payment processing, which allow you to take payment via your smartphone.

2. Loyalty program

Loyalty programs have been proven to boost growth and are a simple way to connect with customers. The benefits of the program will encourage your customer to spend with you, as they will feel as if they’re getting a deal.  While the data collected to sign up will expand your mailing lists for increased marketing potential.

3. Don’t be pushy

If you have a brick and mortar location, it’s important to master the correct amount of contact with your customer. Too much attention, and the customer may feel hurried, or like you don’t trust them; not enough contact and individuals will feel ignored. The best service is one that reads off the customer via quick opening questions that will signal whether or not they’re up for chit chat or just shopping.  You are not exempt if you operate in an online space, popups are the digital version of the pushy salesperson.

4. Easy check out 

In an online space, Forbes notes that consumers find the checkout experience as important as a website’s landing page. Reducing the barriers to conversion by keeping the checkout process simple can lead to an increase in sales. Whether online or in a physical location, easing the checkout process should include accepting multiple payment options.

Even when it comes to collecting a debt, people are more apt to pay if accounts receivable collections software is utilized.

5. Excellent customer service

Happy customers are free advertising and will spread the word about your goods and services. This is especially important as the millennials move through the consumer marketplace, as they rely on word of mouth more than any other generation. Treat your customers well and do what you can to keep them happy, and they’ll put their money where their mouth is.

 

Payscout, UCLA, and the WNBA’s L.A. Sparks: Turning Inspired Connections Into Meaningful Actions

Here at Payscout, we are all about inspiring people through the power of meaningful connections and transactions. In business and in life, we’ve learned that helping others fulfill their potential makes for the most rewarding and most successful partnerships.

That’s why we are so proud of our role in catalyzing a meaningful partnership between  the Jefferson Awards Foundation, the nation’s most prestigious and longest-standing organization dedicated to empowering and celebrating public service, with UCLA and formidable women’s basketball team, the L.A. Sparks. The goal? To uplift and support youth leadership in promoting social good and powering public service.

Payscout CEO Cleveland Brown and COO Juan Sotelo, both UCLA alums, recently helped forge a powerful partnership between the Jefferson Awards Foundation and UCLA, to expand youth leadership and service among middle and high school students throughout Southern California.

That partnership caught the eye of UCLA alum Christine Simmons, President and COO of the Los Angeles Sparks and current President of the Board of Directors of the UCLA Alumni Association, who delivered a motivational speech to students participating in a JAF Students in Action program this past February. Her message: “Never settle, don’t let anyone outwork you, and be extraordinary!”

At the end of her talk, Simmons surprised the students with a donation of 189 tickets for the May 27 home opener of the LA Sparks vs. Phoenix Mercury for all students, advisors and volunteers participating in the JAF Training. At $15 per ticket, that totals an in-kind donation of $2,835.

As you can tell from the picture above, the students had an amazing time and left feeling inspired, energized and eager to see where their service would take them next.

As the first Los Angeles Jefferson Awards Foundation Champion, Payscout is so incredibly proud of the service these young students have committed to, and of the way UCLA and the L.A. Sparks joined together to promote leadership, partnership and service among tomorrow’s leaders. Those are three ideals Payscout lives by each and every day, and we are thrilled to have played a small part in catalyzing this meaningful connection.

Inspiring Tomorrow’s Leaders

On May 21, Payscout People Operations Generalist Ebony McKnight PHR, SHRM-CP spoke at the Partnership UCLA Bruin Development Academy to students on, “How to Differentiate Yourself as a Candidate.” She was joined in the presentation by Payscout COO (and UCLA alum) Juan Sotelo.

The two spoke to UCLA students in the Banking & Finance session of the Bruin Development Academy, a course that covered strategies for success and skills mastery providing students the practical skillset to obtain a job in the banking and finance industries.

This was not the first time Ms. McKnight has shared insights on how to optimize one’s candidacy and land a dream job. The Human Resources subject-matter-expert regularly publishes inspirational posts on her LinkedIn account that are intended to help others find their personal passion, turn that passion into a profession, and lead the life they have always wanted.

This example of thought-leadership not only benefits the students who heard her story, it also aligns with Payscout’s Belief that every individual has a social responsibility to make the world a better place.

Yet another member of the Payscout team is leading by example and demonstrating what it means to give back. Way to go, Ebony!

VR/XR Commerce at Augmented World Expo (AWE)

On Wednesday, May 30, Payscout CEO & Co-Founder Cleveland Brown is speaking about the future of commerce in virtual, augmented, and mixed reality at the 9th annual Augmented World Expo (AWE) in Santa Clara, CA.

Virtual, augmented, and mixed realities (VR/AR/MR) are the future of commerce, but Cleveland Brown likes to compare this current moment in time to one from our past: The dawn of ecommerce.

In his presentation at AWE 2018, the Payscout CEO & Co-Founder will share three questions entrepreneurs and innovators in VR/AR/XR can use to help others determine if they need a VR Commerce strategy. He takes the stage in Room B5 at 5:20 pm PT on Wednesday, May 30.

AWE will be held at the Santa Clara Convention Center, 5001 Great America Parkway in Santa Clara, CA, May 30-June 1. Purchase tickets here!

VR Commerce at VRLA

VRLA is the world’s largest immersive technology festival – and this year, Payscout is showcasing VR Commerce and helping innovators understand the qualifications for implementing a VR Commerce strategy.

Payscout is demoing virtual reality (VR) commerce use cases for retail/etail, non-profit, sports and entertainment – and even an immersive event-registration – at VRLA, the world’s largest immersive technology festival.

Payscout CEO and Co-Founder Cleveland Brown will speak on Saturday, May 5 in the VRLA Theater (South Hall, 403AB) on the questions every innovator should ask to determine if they need a VR Commerce Strategy.

For a limited time, the Payscout VR Commerce demos will come complete with a free T-shirt for visitors at booth #612 – so if you’re attending VRLA this weekend, don’t miss your chance for a free shirt (check it on our crew above)!

Payscout at DIG SOUTH Tech Conference 2018

On Friday, April 27, Payscout CEO Cleveland Brown spoke at the DIG SOUTH Tech conference about the monetization of immersive content. Considering the recent rise in discussion around the importance of VR Commerce, the talk came at a fitting time. The audience comprised over a hundred curious participants who asked a whole range of questions about adoption of VR commerce, such as what strategies small-to-medium sized companies could employee to embrace virtual reality or how one should define the customer journey within a VR experience.

DIG SOUTH is an annual event that connects leading global brands like Oracle, IBM and Salesforce to the top tech leaders and entrepreneurs in the South. Over the last four years, DIG SOUTH has welcomed more than 5000 attendees and 800 speakers from the world’s leading brands, including Facebook, Google, BuzzFeed, IBM, Boeing, Twitter, The New York Times, Adobe, Kickstarter, VaynerMedia, Inc, Fast Company and hundreds more.

In June 2017, Payscout became the first company in the world to integrate frictionless payments tied to the fulfillment of physical goods in virtual reality. VR Commerce enables the user to have an immersive, emotional 360-degree experience before being transported to a virtual store where they can interact with products and make a frictionless payment without having to remove their headset.

To learn more about VR Commerce and get a free consultation from Payscout, visit: https://www.payscout.com/vr-commerce.

Chargeback Changes for CVV2 Mismatch

Change in Visa Chargeback rules in case of a CVV2 mismatch

Effective April 14, 2018, Visa card issuers are no longer able to chargeback a transaction if the original authorization was approved but included a CVV2 mismatch response. Let’s look at this in simple terms and understand its implications on merchants and issuer banks.

The CVV2 or Card Verification Value is a 3 digit number located at the back of a Visa card and is separate from the main credit card number itself. It is a secure number that protects merchants from fraudulent transactions in card-not-present situations, including over the phone (MOTO) or online. It serves as proof of possession of the card by the customer, especially since Visa strictly prohibits merchants from storing CVV2 numbers as a part of the customer’s data.

CVV2 numbers come into play when the customer first enters their credit card details. The issuer bank verifies the card details and ensures the customer’s account has the amount needed to make the purchase. Once the verification is completed, the issuing bank ‘authorizes’ the transaction.

Next, the authorization (along with the CVV2 code) are sent to the payment gateway. At this point, the CVV2 code entered by the customer is “matched” with the correct CVV2 code and a response is generated.

These are the response codes:

M – If the codes match

N – No match

P – Not processed; the code was not validated.

S – Should be on card but not indicated; customer left the field blank

U – Issuer does not participate in the CVV2 program

The payment is captured by the gateway if the codes match.

Now, imagine a situation in which the customer complains they have been billed for a transaction that wasn’t done by them. The merchant checks their records and notices that the same transaction was declined at their end. This essentially means that the transaction was ‘authorized’ by the issuer bank but was ultimately declined once there was a CVV2 code mismatch.

Regardless, a chargeback is issued to the merchant. The merchant then looks at the response code to determine whether the customer was in possession of the card for this transaction. If the response received is ‘N’ or a ‘No match’, the merchant seeks protection from the chargeback.

With the new rules implemented by Visa, the issuer can no longer issue a chargeback to the merchant in a situation where the payment has been authorised but the CVV2 code has mismatched.

Key takeaway: As a result, this change will likely lead to an increase in the number of authorization rejections when the CVV2 provided is incorrect, as issuers will take more measures to protect themselves.

If you’re a merchant, please be reminded that the CVV2 should always be used as part of your fraud prevention measures for one-time, card-not-present transactions and continue to capture the correct CVV2 to help ensure that the used card is in the cardholder’s possession.

 

Learn more about Payscout’s e-commerce solutions and how we help keep our merchants safe and secure: www.payscout.com/eCommerce

 

 

 

Register for VRLA – in Virtual Reality

Payscout has partnered with VRLA, the world’s largest immersive and transformative technology expo, to create a VR registration app that enables users to register for the event – and pay for their tickets – in virtual reality.

The VRLA registration app is available now through April 30 on the Google Play app store. Download the app today!

The experience is worth having whether you’re attending VRLA or not, but if you’re planning to attend and have not yet registered… this is your chance to make history.

Here are a few simple steps to complete your registration.

What do you need?

An Android mobile device and VR cardboard glasses

Step 1:

Find the ‘Payscout VRLA Registration 2018’ app on Google Play store and download it.

Step 2:

Fill in basic registration details on your app.

Step 3:

Log into your existing Visa Checkout account or create a new one (don’t worry – this doesn’t take much time at all!)

Step 4:

Once you have confirmed your registration, the app will prompt you to switch to VR. At this point, place your phone in your cardboard VR headset.

Step 5:

Turn on the volume, sit back, and enjoy the short video clip.

Step 6:

Next, you’ll be transported to outer space. Everything is different when there’s no gravity. Do you have what it takes to avoid the obstacles and make it to the VRLA registration booth?

Step 7:

Phew! That asteroid almost got you, but at least you made it to the VRLA registration booth! Now, pick the pass that best suits your needs (your head movement guides the cursor!) and select your option. Pssst.. there’s a special discount on the two-day pass for avoiding that asteroid like a boss!

Step 8:

Follow the instructions on the screen and complete your transaction by selecting the Visa Checkout button. You’ll receive a confirmation of your registration in 1-2 business days. What’s more, use your confirmation mail to score a free t-shirt at the Payscout booth at VRLA!

Hope you had fun registering in virtual reality! We’ll see you in the real world at VRLA on May 4-5!

Live from TRANSACT: Sionic Mobile and Payscout Announce Strategic Alliance

Today at TRANSACT, Payscout and Sionic Mobile, a leading provider of cloud-based connected commerce and loyalty currency gateway services, announced they have entered into a strategic alliance to provide enhanced mobile payments and loyalty solution helping merchants connect with and more effectively engage millions of consumers nationwide through their favorite mobile app.

Book time to learn more about this mobile payments and loyalty solution!

Sionic Mobile’s award-winning ION Commerce Engine® (ICE) and Mobile Rewards Marketplace® will supplement Payscout’s innovative payment products, including Virtual Reality (VR) Commerce, a finalist for the Electronic Transactions Association (ETA) Star Award, “Technology Innovation of the Year,” which will be awarded during TRANSACT.

“Through the Sionic Mobile partner alliance, merchants will be able to quickly and easily deploy a sophisticated mobile strategy,” said Payscout’s Co-Founder and President, Manpreet Singh. “Building consumer loyalty in today’s increasingly competitive market is crucial to the future success of merchants. The Marketplace not only enables the convenience of mobile payments, but also delivers an exceptional end-user experience that attracts new customers, while encouraging repeat business.”

Yahoo! Finance: Sionic Mobile and Payscout Announce Strategic Alliance

Ronald Herman, CEO and founder of Sionic Mobile, said, “Like Payscout, we are focused on providing innovative, yet intuitive commerce solutions that simplify and streamline the payments process, while providing a richer customer experience. Through this integration, Payscout’s merchants will be able to quickly and easily reach millions of consumers through an app already on their mobile device, providing innovative services to merchants of all sizes with little to no upfront investment.”

 

VR Commerce: Technology Innovation of the Year Finalist

Payscout’s Virtual Reality (VR) Commerce solution is a finalist for the Technology Innovation of the Year award from the Electronic Transactions Association (ETA). The award winner will be announced at ETA’s TRANSACT 2018 in Las Vegas, Nevada. 

The ETA Star Awards honor individuals and companies that have made a significant difference in the payments industry through innovation, business practices, or contributions to the association.

In June 2017, Payscout became the first company in the world to integrate frictionless payments tied to the fulfillment of physical goods in virtual reality.

Bloomberg TV: Juan Sotelo, Payscout COO, says VR will change retail.

VR Commerce enables the user to have an immersive, emotional 360-degree experience before being transported to a virtual store where they can interact with products and make a frictionless payment without having to remove their headset. 

If you’re attending TRANSACT, you can experience this ground-breaking technology in a one-on-one demo and learn more about Payscout’s global suite of innovative payment processing solutions. 

Click here to book a meeting for a one-on-one VR commerce demo at TRANSACT!