Grow Your Business with Mobile Payment Processing via Payscout

Mobile payment processing has changed the way Americans spend their money. According to the World Economic Forum, the average American will make 376 mobile payments in a year. That number will continue to grow in the years to come.

The xennial and millennial generations are innovating the way we do things, from cabs to car rentals to paying for common items, and cash is next on their list.  In 2015,  Business Insider conducted a survey in which 40% of millennials said they would stop using cash if given a choice. This attitude explains why payment via card has grown in volume faster than retail sales.

If you are in the business to consumer market, expanding the way you accept payment is necessary for continued growth. Luckily, Payscout makes it easy to accept payment via your smartphone or tablet. Payscout connects merchants and consumers with mobile payment processing, allowing purchases to take place with a swipe and a signature.

Transitioning to mobile doesn’t have to be a painful process, below are four benefits you’ll see from joining the mobility payment game.

Expanded customer base

If you do not currently accept mobile payments, the likelihood that you are missing out on potential customers is high. Moving to a mobile point-of-sale (POS) will allow you to complete sales, receive authorizations, and email customer receipts from your tablet or smartphone. You’ll gain customers with a simple swipe and sign.

Increase sales

It’s no secret that people have a habit of spending more money via card than they do cash. Human behavior is influenced by many variables, and decisions are frequently made on an unconscious level. Put simply, we are often on autopilot throughout the day, which means when we shop with cards we don’t have to make conscious decisions about spending money, and we spend more. That’s money you could be missing out on if you don’t accept mobile payments.

Quick customer turn-around

Serve more people, more quickly. Your lines will move faster with the increased technology of mobile payment processing. You’ll be able to assist customers quickly and get them on their way with reduced effort.

Increased functionality

Moving to mobile will not only increase the speed of your transactions, but it also increases efficiencies. Access to transactional data will make keeping your accounting on point a less complicated process.

About Payscout

Payscout is a global payment processing provider covering six continents by connecting merchants and consumers via credit, debit, ATM, and alternative payment networks. They are committed to providing clients with systems that keep them ahead of emerging trends and changes in the mobile payment processing world.  They provide nonprofit payment processing, work with the international market, and healthcare and utility payment processing and much more. With Payscout, there are no set-up or activation fees, no cancellation fees, and no annual fee.

Expand your consumer base with a range of functional services at www.payscout.com

Payscout Reflects on Second Year as a Champion

Payscout is reflecting on its second full year as a Champion with the Jefferson Awards Foundation.  Two years ago today, Payscout partnered with JAF, the nation’s most prestigious and longest-standing organization dedicated to powering and celebrating service.

Over the past year, Payscout has continued its involvement with Students in Action, participating in the Fall and Winter Training in Los Angeles, as well as the annual Competition in both New Jersey and Los Angeles.  The Payscout team has volunteered their time with Van Nuys Middle School and were proud to see the students earn a gold-level banner award for their accomplishments.

Payscout activated the Lead 360 project and donated more than 200 Emma’s Art Kits to the UCLA Mattel Children’s Hospital and the Newark Beth Israel Medical Center.  

Payscout is proud to have generated the world’s first donation made in virtual reality to the Jefferson Awards Foundation.    

In May, Payscout, the Greater LA JAF team, and several SIA students and families attended opening day for the WNBA’s Los Angeles Sparks, thanks to tickets provided by Christine Simmons, President & COO of the Sparks. Ms. Simmons announced the donation while addressing the SIA students at the Winter Training at UCLA.

The Students in Action teams from schools in the San Fernando Valley area were honored by their council members at the Los Angeles City Council spring meeting, which was a tremendous educational opportunity for the students.

In recognition of her work with Payscout Gives and JAF, Payscout nominated Erica Boatman-Dixon as employee volunteer of the year, giving her the opportunity to travel to Washington DC in June to the JAF National Ceremony. There she had the opportunity to interact with recognized volunteers from around the country and meet with congressional representatives from California.

It is clear that 2018-2019 will be another enriching and exciting year for Payscout as a JAF Champion.  Changes are on the horizon with JAF and Payscout’s involvement, so continue reading this blog for more announcements about our partnership.

For more information on Payscout activities conducted during the first year as a Champion, click here.

You can also watch this brief video which highlights Payscout and other organizations involvement with the Jefferson Awards Foundation.

These efforts continue to serve as an example of our Belief, that every individual has a social responsibility to make the world a better place!

Increase Your Nonprofit Donations with Online Giving Supported by Payscout

Boost your revenue by making the donation process simple and easy. Paying online and via mobile are quickly becoming the preferred method of payment for Americans. Online giving grew nearly 23 percent last year – did your nonprofit benefit from this significant increase?

By embracing mobile nonprofit payment processing technology, you open your organization up to greater opportunities. When donating online, donors are more likely to complete the donation process all the way through. They are also more likely to select an option for recurring donations while online as well. According to Nonprofit Tech for Good, on average, nonprofits raise 7.6 % of their total revenue online. Which means if you don’t offer donors an option to pay online, they may be choosing an organization that does.

A leader in mobile payment processing, Payscout is a global payment processing provider covering six continents by connecting merchants and consumers via credit, debit, ATM, and alternative payment networks. Our focus on the nonprofit world includes a commitment to fundraising professionals and nonprofit organizations. We help nonprofits streamline the donation process through innovative and secure specialty credit card processing. With a single Payscout merchant account, you can finally process all types of donations through the same system – regardless if your donors are online, on-site or mobile.

In addition, online donation platforms save your resources elsewhere. Having an online forum will reduce the amount you spend on marketing materials, as there will be no need to send donation or reminder cards. When it comes to influencing donors, online resources are considered 20% more effective than direct mail, according to Qgiv.

With Payscout, you won’t have to deal with set-up, activation, cancellation, or annual fees. Stay ahead of emerging trends and give your donors the latest technology with Payscout. Interested in utility payment processing? We can handle that as well.

Enhance your donation experience at www.payscout.com .

6 Benefits of Accepting Payments Online

Running a business is hard enough without having to chase down payments for services you’ve already rendered. Paper invoices are often ignored, many without even being opened.  In today’s busy times, next to no one has the time to write a check, find an envelope, and a stamp—and manage to get all of that into the mail.

Don’t spend your time chasing down funds.  Instead, put that energy into establishing an online payment system, which will save you time and a whole lot of headache.  Whether you need international payment processing or a complete omnichannel system, there is an option that will cater to your business needs.

Online processing allows you to accept card-not-present transactions through an Internet-enabled interface or shopping portal.  Adding this option for your customers will benefit you through:

Selling Flexibility

With a single, integrated sales system, your business can increase selling flexibility, add or subtract features as needed, and leverage growing online buying trends to achieve higher profitability.

Simple initiation

Signing up for an online payment system is a simple process that includes minimal paperwork. In many cases, you can begin accepting payments online within days of initiation.

Quickly cleared transactions

Online transactions clear quickly, freeing up your cash flow that much sooner.

Automation

With an online payment processor, you won’t have to hassle your customers—the system will handle processes for you.  It will also allow customers to set up recurring bill pay, giving them one less thing to worry about.

Meeting expectations

The fact is, many consumers expect an online payment option.  By ignoring this expectation, you could compromise the consumer relationship before it even starts.

Enhanced security

When you utilize an online payment portal, the company you choose is required to enact multiple protections and security layers.  This added layer of protection means that your business’ and your client’s money will be safe.

Even with the best online payment system, you will run into customers that won’t pay.  If you find yourself frequently tracking down payments that remain unpaid, consider investing in accounts receivable collections software to make running your business more stress-free.

About Payscout

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.  Our mission is to support the entrepreneurial dream one transaction at a time; we do this by connecting merchants and consumers via credit, debit, ATM, and healthcare payment processing.  With support on six continents, Payscout is willing and able to help your business go global.

Saving Your Bottom Line with Healthcare Payment Processing

More and more, providers in the healthcare industry are realizing the impact that payments have on their businesses and are establishing priorities to address inefficiencies.

As insurance benefits continue to change, more and more of the financial responsibility falls on the patient. As the cost of healthcare continues to land on the individual being treated, consumers are demanding more control of their billing. They want detailed accounts of what they owe and multiple payment options.

By investing in healthcare payment processing, your practice can actually save money on your bottom line. Overseeing the financial aspects of your healthcare business is paramount. Invoicing and collection requirements need to be met with speed and accuracy. By giving your customers fast, efficient ways to pay and manage their bills, you increase the likelihood of payment.

Payscout is an innovative leader in the payment processing industry. We offer payment solutions for brick-and-mortar and ecommerce transactions as well as accounts receivable collections software. We have earned acclaim as a new-generation provider of merchant banking services, delivering a truly global payment solution that manages all merchant risk verticals.

How you manage payment responsibilities can have a direct impact on the security, efficiency, and bottom-line revenues of your healthcare company. More and more, providers in the healthcare industry are realizing the impact that payments have on their businesses and are establishing priorities to address inefficiencies.

Payscout eliminates friction in payments and is committed to helping healthcare companies manage payment options. Patients can pay their bills quickly using multiple payment methods. With years of industry experience in the healthcare collections space, we are able provide effortless payment options to increase revenue and efficiency. Plus, you’ll never experience set-up, activation, or cancellation fees. Other benefits of choosing Payscout include:

  • Unparalleled customer service
  • Condor, our mobile-enabled web portal for self-service payments with IVR
  • Direct payment gateway and customized API connection for real-time data transfer
  • Reliable and sustainable acquiring bank solutions
  • Robust integrations with over a dozen software applications

From mobile payment processing to international payment processing, Payscout has the solutions to keep your business running smoothly. Discover how we can help you grow 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.

Grow Your Business with International Payment Processing

Payscout is a global payment processing company that specializes in international payments

The demand for mobile international payment processing options is increasing year over year, is your business prepared to meet the demand? According to Allied Market Research, the global mobile payments market is projected to reach $3,388 billion by 2022.

It’s no wonder, while cash has been king for years, many no longer see its usefulness. The preference for quick payment that requires little thought is quickly taking root in consumerist minds. And it isn’t just consumers that benefit, businesses of all shapes and sizes see shortened lines and wait times, an increased likelihood of sale (especially at traditionally cash-based functions, like the farmer’s market), and higher purchase amounts when credit and debit cards are accepted.

Staying equipped to grow your business is easy with Payscout. Payscout is a new-generation merchant services provider, covering six continents, that connects merchants and consumers via credit, debit, ATM, and alternative payment processing. Supporting the entrepreneurial dream one transaction at a time, Payscout offers a holistic solution for International Payment Processing. Payscout has the contacts and expertise to get you quickly set-up to process payments in Brazil, Canada, EU, and the US. A leader in the payment processing industry, they are experienced at navigating foreign compliance issues and maintaining relationships with regulatory agencies. They are also able to provide merchants with offshore incorporation assistance and other services to help ensure there is a strong international merchant presence.

Reach out to Payscout here and go global now!

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.

 

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.