Payscout is Expanding Integration Options for Clients in the Healthcare Industry and Beyond

Doctors walking through hospital lobby

Payscout’s recent acquisition of Paywire has significant implications for partners interested in expanding into healthcare payment processing by providing a suite of secure, integrated solutions to streamline operational efficiency and reduce the scope of PCI compliance. The move also gives Payscout customers access to Paywire applications developed in the Epic App Orchard marketplace and the company’s integrated suite of software applications.

Epic App Orchard is, among other things, a testing environment where developers can create and sell apps that interface with other software applications through Application Programming Interfaces (API). APIs allow customers to access interactive sites like Facebook and Facebook Messenger through an app. Epic App Orchard also lets developers test strategies for managing information exchange software in a sandbox environment.

This expanded access is important for Payscout clients across verticals, but particularly those that use healthcare payment processing systems. Healthcare clients manage huge databases of medical and financial information, ranging from patient registration and scheduling to lab results to medical billing. An integrated healthcare payment processing system allows Payscout customers to interface with financial institutions, third-party payment applications, and customer accounts seamlessly through a supported application portal.

With expanded access to Paywire applications in Epic App Orchard’s marketplace and APIs, Payscout can offer customers customized solutions such as fully-integrated billing and payment applications, all supported by Epic App Orchard’s APIs. With more cloud services, expanded mobile software, and access to Epic App Orchard’s APIs, Payscout customers gain more dynamic payment processing technologies and payment solutions that are customized for a specific vertical such as healthcare.

Payscout’s payment processing solutions are fully integrated with over a dozen software applications and offer direct, reliable banking solutions. Payscout’s mobile-enabled web portal, Condor, lets customers pay through a mobile app, and their customized API connection allows for real-time data transfer.

Payscout offers the same support to clients in other verticals, including collection agencies. Payscout fully integrates with over a dozen accounts receivable collections software platforms, ensuring transactions are secure, efficient, and provide real-time data for your business. With over a decade of experience in the collections industry, Payscout delivers fully-integrated payment processing services to help you handle medical or telecom collections, student loan payments, inbound financial transactions, or credit union receivables.

Payscout serves thousands of clients in diverse industries and verticals across six continents and all 50 states. As a licensed E.U. Financial Institution, Payscout has partnerships with global financial institutions across the world. The “Go Global Now” technology platform gives merchants access to over 100 countries, billions of consumers, and valuable mobile markets. As an international payment processing solution provider, Payscout helps entrepreneurs navigate foreign rules, requirements, reporting, and compliance.

Payscout connects merchants and consumers via credit, debit, ATM, and alternative payment networks. Customers can access Payscout’s credit card processing services via a web-based user portal, or call Payscout’s professional service experts.

Learn more about secure and efficient payment processing at www.payscout.com

Global B2C Ecommerce is Expected to Grow to $1 Trillion by 2020

Young entrepreneur woman using tablet work at home office looking at camera.

Is your business ready to tap into the international ecommerce market? If not, you could be losing out on access to millions of potential consumers and their online purchases.

The global business-to-consumer ecommerce market was valued at $230 billion in 2014, but is expected to reach $1 trillion by 2020, according to  a report from global consulting firm Accenture and AliResearch, the research arm of Alibaba Group. This marks a pivotal opportunity for small- and mid-sized firms and global entrepreneurs who are interested in tapping into emerging markets.

Cross-border ecommerce is a segment of the global B2C market where consumers make online purchases from businesses physically located in other countries. One of the easiest and most secure ways to facilitate global ecommerce is through an international payment processing system.

Experts estimate that by 2020, international ecommerce will account for almost 30% of global B2C purchases. According to the report, more than 900 million people around the world are expected to participate in online international shopping.

If you see potential to grow your online retail operations, you can’t afford to miss out on this trend. An international payment processing system can help smooth the transition into global markets by helping you navigate foreign rules and compliance issues and streamline payment processing. Look to work with a company that offers an international payment processing system and that can also help you connect with international contacts and experts in new markets such as Brazil, Canada, and Europe.

Global analysts and investors are also carefully following China’s growing economy. Global ecommerce grew by more than 70% in 2015 in China alone, driven partly by China’s growing middle class, higher standards of living, and increased exposure to foreign markets.

An estimated one-quarter of China’s population will soon be shopping either directly on a foreign company’s website or shopping through third parties like Alibaba, JD Worldwide, or Amazon. This equates to over 200 million ecommerce shoppers in China over the next five years, totaling over $245 billion in ecommerce transactions.

In addition, international ecommerce is expected to see compound annual growth of over 27% in the next five years. This is double the current rate of B2C shopping worldwide.

Even if you don’t anticipate venturing into international markets, which might be the case for local businesses like a regional healthcare provider or a utility company, you still need a payment processing system that is efficient and secure.

A healthcare payment processing system should integrate with other software applications, customer accounts, and financial institutions to facilitate fast and secure payments. Reliable, integrated banking solutions are a central component to electronic payments.

Also look for payment processing systems that support frictionless payments. This emerging concept integrates a customer’s banking information with point of sale transaction through an app or mobile device, allowing customers to pay a bill or make a purchase from their phone instead of physically swiping a debit or credit card.

Whether operating domestically, internationally, or moving between global and local markets, your payment processing provider should ensure excellent customer service, mobile capabilities, personalized solutions, and API connection for real-time data transfer.

 

 

 

4 Benefits of Mobile Payment Processing

Business People Holding Mobile Phone

No matter the size of your business or the nature of your industry, technology and innovation can streamline your operations, drive growth, and expand your customer base.

At one point, a paper invoice or a facsimile receipt kept your business on the cutting edge of modernization. Then operations went digital, allowing customers to engage with merchants online and make purchases from the comfort of their home or office.

Today, a majority of customers hold that same technology in the palms of their hands through smartphones and tablets. Your customers want and expect easy, secure mobile payments for the goods and services they regularly purchase.

Whether you’re a large chain or a small non profit, a trusted mobile payment processing provider can modernize your mission and connect your customers with a secure point-of-sale payment system that they can control from anywhere.

Mobile Point-of-Sale System

A secure mobile point-of-sale system from a trusted mobile payment processing provider should allow you to complete transactions and send digital receipts through a mobile card reader (ideally one that they’ll provide free of charge). Look for a system that is compatible with both Apple and Android and that supports debit and credit card transactions to make things easier for both your staff and customers.

When looking for a payment processing provider for your business, consider any setup or annual fees that may come with it, as well as additional costs. Ideally you can find a provider who can set you up with a system fast, without hidden fees, so you can get right back to operating your business. That said, payment processing systems might be difficult for some to understand at first, so look for a provider who offers 24/7 support so you can focus your energy on moving your business forward.

Smart Device Systems

Look for a mobile platform that operates on both Apple and Android mobile processing platforms so your payment platform is more accessible for both your customers and employees. Ideally you’ll find a platform that can be used across multiple devices so everyone who needs it can have access. Take a peek around Apple’s App Store or the Google Play Store for Android systems to see what is available to suit your needs.

Fundraising and Donations

If your organization is more geared toward donations and fundraising, then you need a payment service that lets you engage donors and leverage financial profit payment processing support online, in-person, or through a smartphone.

To help make your non profit payment processing much more streamlined and secure, look for a fundraising and non-profit merchant services platform that serves as a hosted donation site that accepts credit, debit, and checks. A strong non-profit payment processing system should allow partners to donate to your cause through a one-time payment or create a recurring donation—all through a centralized merchant account.

Since you’re a non profit or a fundraising group, it would be ideal to find a payment processing provider who won’t charge you numerous fees or have a cancellation fee in case the partnership doesn’t work out. It will also help if you can find a payment processing provider who offers qualified, 24/7 technical support.

Data Protection

Whether you’re driving online revenue or trying to maximize mobile donations, it’s imperative to find a mobile payment processing system that complies with Payment Card Industry (PCI) security standards, meaning your data and your customers’ information are secure.

PCI standards are updated annually to ensure businesses and organizations handle, process, and store data in accordance with current best practices.

About Payscout

Payscout is a trusted, global payment processing provider working across six continents and connecting merchants and consumers via credit, debit, ATM, and alternative payment networks. Payscout makes it easy to manage payments on-site and across online and mobile platforms. Payscout even offers customized API connections for healthcare payment processing and integrates with over a dozen software applications. If you work in a healthcare environment, Payscout’s mobile payment processing services can help drive revenue efficiently and securely.

Discover how to energize your organization at www.payscout.com

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.