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

 

 

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.

Virtual Reality is the Future of Global Ecommerce.

Virtual reality (VR) is poised to revolutionize the way consumers interact with products and services – and Payscout has developed innovative technology to facilitate payment transactions within virtual reality experiences.

Perhaps no technology has elicited more enthusiasm and excitement than the recent rise of VR technology. In the past decade alone, the world has seen major, rapid advancement in the development of VR technology.

The omnipresence of smartphones with high-density displays and 3D graphic capabilities has enabled a generation of lightweight and practical VR devices. Those devices also happen to double as mobile payment technology tools, with transactions via mobile payment technologies predicted to reach 9.9 billion in 2018.

The confluence of these technological and economic advancements – VR technology, global ecommerce and the rise of mobile payment technologies – is poised to revolutionize the omnichannel retail experience.

Nonny de la Pena, the Founder of Emblematic Group, and commonly referenced as, “The Godmother of Virtual Reality,” recently explained the power of VR this way:

“Because VR offers the audience the sensation of ‘being there,’ it creates a visceral connection to the events unfolding in front of the viewer.”

Many analysts are predicting that these visceral connections will translate to commerce in massive and profound ways.

Deloitte predicts VR will be a billion-dollar industry by the end of 2016. Goldman Sachs estimates the global VR and AR market will reach $110 billion by 2020, and a recent analyst report from Citigroup suggests VR/AR will become a $674 billion market by 2025.

So, how can merchants and entrepreneurs gain first-mover advantage in the world of VR, and position themselves to take advantage of these projections?

Payscout has a solution.  

In May 2016, Payscout demoed a simulated VR shopping check-out experience at the 2016 CNP Expo in Orlando. One month later, Payscout showcased a simulated VR debt payment experience at the ACA International Convention in Denver.

But, these were merely simulations. When the time came to build the technology to allow for real-time transactions to take place within a VR experience, the Payscout team was up to task.

In October 2016, Payscout developed a VR commerce solution that enables the purchasing of an embedded product within a VR short film. Working with the Film Antics production company, the team shot a three-minute VR short, with prominently featured product placement. The  feature was followed by the opportunity to purchase the product within a virtual store – all contained within the VR experience – and the transaction  is powered by Payscout’s proprietary payment gateway.

The revolutionary implications of this emerging technology are limitless – from changing the way product placement occurs in feature films to non-profit applications for donations in immersive, 360-degree experiences.

In a recent interview with Multichannel Merchant, Payscout CEO Cleveland Brown stated, “Virtual reality commerce will evolve in different ways than ecommerce did, primarily because it uses a different set of parameters and production requirements. The sophisticated interface will appeal to retailers that offer products which show well in the three-dimensional environment or are popular enough to capture on-demand engagement.”

And, when retailers are ready to capture that engagement, Payscout is the payment processing partner positioned and ready to provide the solution.

Trends in Mobile Payment Processing

Today, the most common methods of payment in almost any business industry are via debit and credit card. If you are not accepting card payment, you are most likely losing out on sales. After all, statistics show that three out of every four retail transactions done in the United States are preformed using a credit or debit card, and often times, these transactions occur via an online marketplace. Gone are the days when merchants are tied to counters and conventional offline stores.

Mobile card processing also enables retail business owners to reach their target market wherever they go.

Retail business owners can now leave their store behind and go to where the consumers are. Regardless of the industry you are in, you will definitely benefit from mobile payment processing.

One up-and-coming mobile payments trend that retail owners should be paying attention to is the use of mobile wallets. Mobile wallets are apps that allow you to pay with your credit card using your phone instead of a physical card. This is a huge advancement in payments technology, merging the security of a payment card with the ease and convenience of a smartphone. Mobile wallets are available on both iPhone and Android enabled devices and are gaining swiftly in popularity, with 11% of the American population making use of these apps.

Make sure you are staying on trend as a business owner; contact one of our customer service specialists today at 888-689-6088 to see how you can begin accepting payments from mobile wallets.

 

Mobile Processing Equipment From Payscout

At Payscout, we pride ourselves on having a standard of excellence in customer service, and that standard extends to our products. We understand your business is sometimes constantly on the go, so you need mobile credit card equipment you can trust to hold up to the task.

Payscout integrates the iProcess Mobile Payment App into our mobile credit card processing bundle. The iProcess App is compatible with both iPhone and Android enabled devices and can process transactions anywhere in the world via wifi or a cell phone data connection.

We use the iProcess App with our system, because of its convenient and easy to use features. With iProcess you will enjoy:

  • Geotagging the location of the sale on the receipt
  • Receipts sent via e-mail or SMS
  • Capture of digital signatures and the addition of a tip to the total amount charged
  • Full or partial refunds from the Transaction History Log
  • Processing of keyed or swiped transactions with our Encrypted Swipe Solution
  • FREE to download application

You will also be assured every transaction performed with iProcess is safe since the App uses an encrypted card reader to protect both the merchant and consumer. This helps to provide a reliable, safe and easy transaction for all parties involved with the security of encryption that meets PCI-DSS requirements.

Why Choose Us?

On top of providing a free mobile card reader and subscription to the iProcess mobile processing platform, Payscout offers our mobile customers the following benefits:

  1. No set-up or activation fees
  2. No cancellation or early termination fees
  3. No annual fee
  4. No monthly statement fee
  5. Approvals within 48 hours
  6. 24/7 telephone technical support
  7. Rates = 1.95% per swipe + .19¢ *
  8. Low monthly mobile device fee of $5.00

* All proposed rates and fees provided by Payscout, Inc. are subject to credit approval.

To check to see if your phone is compatible with our system’s mobile processing application, head over to our website or contact one of our customer service representatives at 888-689-6088 to learn how we can help you grow your business!

Accept Payments Using Your Smartphone or Tablet

Would you like to enjoy the convenience and flexibility of accepting credit and debit card payments for your business, wherever you go?

Other businesses are already taking advantage of mobile credit card processing. Taxis and food trucks can accept cards via smartphones, and chances are, your favorite restaurant now takes orders and payments on an iPad or tablet-based point-of-sale (POS) system. In a world where people are constantly on the move, doesn’t it make sense for your payment processing to be mobile as well?

Mobile Card Processing Services

Accepting credit and debit card payments using a phone or tablet device is the future of electronic payments. Mobile card processing services allow customers to make payments for products or services purchased anywhere, anytime. When you’re delivering products to a customer’s home or conducting a sale in a public place, carrying your card processing equipment is not only inconvenient, it’s virtually impossible. This is a time when using a mobile payment service comes in especially handy.

Six Steps to Mobile Credit Card Processing

  1. First, you need to set-up an account with a mobile card provider like Payscout!
  2. Second, you will set-up equipment that enables your mobile card processing. You may also have to download an app on your mobile or tablet device to accept payments.
  3. Now, you’re ready to accept payments! You will need to swipe your customer’s card and enter in their information by taking a photo of the information on the card or asking your customer for the required information.
  4. Depending on the type of app, your customer can either sign to approve the payment or provide you with additional information required to authorize the transaction.
  5. Watch, as the money comes pouring in, because card processing through mobiles takes less than a few seconds!
  6. You will also be able to email or text a receipt for the transaction to your customer.

The Benefits of Mobile Card Processing Services

It is easy to find a merchant account service provider that offers mobile processing solutions for Android phones, iPhones and iPads. However, finding the right service provider for your needs can be a bit tricky. Make sure you weigh the efficiency of the service against their fees before you enter into a contract.

Once you’ve found the right service provider for your business, you can take advantage of the following benefits:

  • Increased Security – Mobile credit card processing keeps your customer’s information secure by swiping their card and digitally transferring all of their sensitive data.
  • Compliance – By using a mobile credit card processor, you automatically stay in compliance with the law that requires all printed credit and debit card receipts have all but the last 5 digits of the customer’s account information removed.
  • Enhanced Speed – Mobile credit and debit card processing doesn’t require you to call to authorize a transaction, making the processing fast and easy.
  • Lowered Cost –Debit and credit cards can be used to make a purchase whether the actual card is present or not, and while merchants are charged fees for both transaction types, the percentage for card-present transactions is typically lower than the fee for card-not-present transactions. This means a merchant can save a significant amount of money by using a mobile credit card processor.

Mobile card processing services also allow you to stay connected to your business on the go. This enables you to boost sales and improves your profit margin, thus helping your business grow. Contact one of our Payscout specialists today at 888.589.5088 or by inquiring online to see how we can help grow your business using a mobile card reader!

How Mobile Payment Processing has Changed

Mobile credit card processing has played a vital role in the enablement of businesses to safely accept debit and credit card payments without the hassles of fixed hardware and phone lines. This advancement in technology enables retailers to go wherever their customers are. Mobile credit card processing is constantly evolving in order to keep up with consumers. Over the past five years, the industry has experienced rapid change, affecting both consumers and merchants.

Here are just a few ways mobile credit card processing has changed in the past five years.

1. More Functions

You can now access almost any payment function with the use of your mobile device, such as a smartphone or tablet. You can also send emails or text messages to your customers after making the sale.

2. Apps for iPad, iPhone, and Android

Mobile credit card processing is now very popular among businesses of all sizes. You can now take advantage of different apps for mobile devices which are used to process credit and debit cards. This is an excellent opportunity for small businesses to get reliable and simple ways to accept payments as they eliminate the need for an IT Department to process orders.

3. Increased Usage of Small Businesses

Over the past five years, there has been a significant increase in the number of small business owners who use mobile credit card processing. Small enterprises owners such as antique dealers, crafts sellers, fair vendors, and food truck proprietors have taken the opportunity to increase their sales and cash flow.

Mobile credit card processing changes the way small businesses conduct their sales. This field will continue to evolve for bigger and better things.

If you are interested in learning more about how Payscout can help your business establish a mobile-friendly electronic transaction platform, visit our website or call us at 888-689-6088 today!