The Future of Virtual Reality Commerce

man-in-vr-commerce-experience

Despite the increasingly user-friendly, effective, intuitive, and affordable virtual reality (VR) and augmented reality (AR) platforms, they’re still occasionally dismissed as technological novelties. People who have used VR technology are generally not among those who dismiss it. Those who have experienced what VR is capable of tend to agree that it’s a technology in the infancy of its eventual larger cultural influence. It’s an opinion shared by a large portion of the tech community and those who invest in it.

That investment and adoption of VR technology has increased every year, and there’s no reason to think it won’t continue to trend that direction. There is a handy basis for comparison that VR proponents often cite to VR skeptics: the smartphone. There was a smartphone-averse population when the handheld smart devices and mini tablets, that would become smartphones, were introduced. They were expensive, and a minority of the population were the excited early adopters who owned them. Now, of course, they’re ubiquitous. And with any tech trend of this size and influence (like mobile payment processing for smartphones), there’s the inevitable question of monetization and commerce.

 VR Advertising

The implications for advertising aren’t hard to imagine. A business could preview their product’s or service’s features, functions, selling points – and even how the product would look in your home – all of which could be investigated in living color, in 3D, and comprehensively. It’s a dream come true for real-time consumer engagement and experiential ads. In addition, there’s the prospect of general ad improvement, such as the option to take the consumer virtually under the sea or down into a volcano. Interactive product placement in video games and other VR entertainment is likewise piquing the interest of marketing executives.

VR Shopping and Payment Processing

Along with the opportunity to examine a product or service, ecommerce futurists foresee a shopping dynamic in which customers could browse virtual grocery or clothing stores, examine products, compare them, and purchase them from the comfort of home. Of course, that same dynamic is going to require a new class of payment processing technology to accommodate the medium. The considerable financial potential of VR commerce has actually already yielded a VR commerce app from payment processing firm Payscout.

VR Non Profit and Charity Giving

As necessary and beneficial as commerce is for every society, there’s an admirably altruistic portion of the business community who insist on an even more selfless brand of commerce. They are the entrepreneurs and humanitarians who have founded non profits and charities. The potential for VR to introduce possible donors, supporters, members, and customers to the realities of the issue a charity or non profit is attempting to publicize or mitigate is huge. Unfortunately, even the traditional charity and non profit operations and fundraising can be complex, frustrating, and discouraging when being undertaken in actual reality. The last thing they need is a difficult payment process to add friction to the experience. Fortunately, Payscout offers a modern and secure non profit payment processing solution that can help non profits manage one-off and recurring donations with ease.

About Payscout

Payscout has consistently been recognized as one of the most innovative, trusted, and dynamic payment processing providers in the industry. By facilitating sound, secure, convenient payment processing solutions across the U.S., Canada, Brazil, and the E.U., Payscout links merchants and their customers with their debit, credit, ATM, mobile, and alternative payment systems. Payscout makes it easy to manage payments, both on-site and for mobile and online platforms. Additionally, Payscout can integrate with over a dozen software payment processing applications, while specializing in healthcare payment processing, utility payment processing, and non profit payment processing. Payscout can accommodate any payment requirement, and they’ll do so with safe, secure, speedy, friendly, and convenient service.

Discover everything Payscout’s payment processing solutions can do for you, at www.payscout.com

Payscout Partners with Accenture Interactive and Elastic Path to Bring an Immersive Donation Experience to SXSW

SXSW VR Activation

At South by Southwest Interactive this year, Payscout is demoing a ground-breaking virtual reality experience for the Peregrine Fund that takes the user on a flight with a California Condor and lets them donate frictionlessly to the fund via Pay-by-Gaze technology.

Payscout is showcasing a technology experience at SXSW with Accenture Interactive and Elastic Path that represents the future of how brands will engage with consumers (and optimize conversions) in immersive environments.

Elastic Path and Payscout have partnered with Accenture Interactive to create a 360-degree experience for the Peregrine Fund that showcases how conservation efforts have benefited birds of prey like the California Condor.

After experiencing the majesty of the Condor in 360-degrees, the user can make a frictionless donation to support the Peregrine Funds’ conservation efforts via an all-new Pay-by-Gaze technology that is being debuted at SXSW.

As an unrivaled example of how businesses will tell stories and optimize conversions in a mixed-reality world,  the location-based virtual reality experience features Oculus Go headset experience of a 360-degree story about the California Condor, which is followed by a “virtual store” for gazing and initiating a donation to the Fund.

“We are thrilled to debut this groundbreaking technology with Accenture Interactive and Elastic Path,” said Payscout COO Juan Sotelo. “This kind of technological solution and platform integration represents the future of how brands will leverage immersive technology to drive optimized outcomes among their ideal customers.”

The virtual reality experience can be found at Accenture’s Demos @ the Experience Cantina, in the XR Lab Space 4, March 8-12 at the SXSW Festival in Austin, Texas. For additional details, please click here.

Accenture Interactive was named Elastic Path Partner of the Year for two years running: https://www.elasticpath.com/resources/elastic-path-names-accenture-interactive-partner-year

The Financial Challenges of Running a Non Profit and How Payscout Can Help

Young woman stands addressing colleagues at a meeting

Running a non profit can be an incredibly challenging calling. Non profits deal with nearly all of the challenges for-profit businesses do while concurrently having to fundraise; operate on a shoestring budget (which generally necessitates a small staff); and navigate compliance applying for grants, etc.

And once you’ve built your donor or supporter base and you’re ready to start accepting donations, providing a modern, secure payment-acceptance model results in an entirely new set of challenges.

Keeping track of donation amounts, the payment method used, whether or not the donations are recurring or one-time, ensuring PCI-compliance for payments, and all of the other challenges involved in payment processing can make the entire process seem overwhelming. While some of these challenges are simply part of the tough (but often rewarding) undertaking that is running a non profit, Payscout can take the hassle out of managing your payment processing model. And with specializations in financial arenas as complex as healthcare payment processing, they’re up to the challenge.

 The Relevant Challenges

As mentioned, it’s a great feeling when money starts coming in to your non profit. It’s a less than great feeling when the complexities of managing it become difficult to navigate. For instance, without a unified non profit payment processing platform, a non profit can find itself struggling to juggle contributions from credit cards, debit cards, checks, or donors requesting electronic payments, as well as from local and international sources.

To further complicate matters, those contributions can come from one-time donors, members with recurring donations, grants, or fundraising events; and in some cases, alternate sources of income non profits can establish. When the donation is from an international source, international payment processing and everything it entails becomes necessary to sort out. Additionally, as the staffs of non profits are often operating on a tight budget, losing staff members familiar with this sort of financial organization can create chaos.

 What Payscout Can Do for You as a Payment Processor

Payscout has established a reputation as one of the world’s premier payment processing providers by establishing expertise in every facet of the industry, from proprietary accounts receivable collections software to virtual reality commerce. And that level of comprehensive expertise and experience is important for ensuring that a non profit’s payment processing platform is as secure as possible while providing ease of use for both staff and donors.

Payscout provides PCI-compliant hosted payment forms that allow donation via debit and credit cards and checks, including user-friendly options for automatic recurring payments, which help ensure consistent, ongoing support. That the platform is PCI-compliant serves as a guarantee that donations are always going to be secure and safe to make. Payscout also works with every non profit individually to establish a payment processing dynamic that’s especially suited for their size and needs.

 Take the financial potential of your non profit to the next level, at www.payscout.com

Payscout COO Is Recognized with Prestigious Board Position

Juan Sotelo

The Greater Los Angeles chapter of the Jefferson Awards Foundation recently honored Payscout Chief Operating Officer Juan Sotelo with an appointment as chair of their advisory board. Since joining the board in 2016, Sotelo’s commitment to altruism and innovative business acumen consistently stood out to both local and national leadership of the Jefferson Awards Foundation.

The honor would likely come as no surprise to anyone familiar with Sotelo’s career and accomplishments. His resume includes working as a mathematics teacher, serving as the sales and operations manager for tech giant Oracle, and running his own consulting services firm, JD & Associates.

In 2013, he joined Payscout as Vice President of Business Development. During his two-year tenure, Sotelo shone as a committed and creative thought leader, contributing to Payscout’s success in emerging markets like mobile payment processing. He further advanced Payscout’s success and growth by spearheading growth initiatives, internal process development, and strategic brand advancements.

In 2015, Sotelo was promoted to Chief Operating Officer. As COO, Sotelo immediately excelled in the overseeing of customer support, operations, brand development, and marketing for Payscout staples like utility payment processing.

Sotelo also helmed Payscout’s expansion into revolutionary new payment processing spaces with the establishment of their virtual reality (VR) payment application. This application can be used to aid non profit payment processing and encourage donations.

When not busy changing the face of the payment industry, Sotelo also works as the Managing Partner and President of the production company Film Antics, which has released over 20 films, including a feature film, under his leadership.

While his career and financial ingenuity are quite impressive, there was another characteristic beyond those skills and accomplishments which stood out to the people at the Jefferson Awards Foundation. Sotelo’s engagement in humanitarian work, particularly with youth, contributed to the chairmanship.

Plaudits from an organization as respected, significant, and influential as the Jefferson Awards Foundation is no easy feat. The foundation was established in 1972 by former First Lady Jacqueline Kennedy Onassis, U.S. Senator Robert Taft, Jr., and longtime public servant Sam Beard as the American equivalent of a Nobel Prize for public and community service. Since then, its awards recognizing those who’ve made strides in volunteerism and public service have been given to several Presidents and Vice Presidents of the U.S., Supreme Court Justices, generals, Senators, and the top business leaders, humanitarians, artists, performers, journalists, and athletes in the country.

Learn more about Payscout’s innovations and user-friendly platforms, at www.payscout.com

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.

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!

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!

 

Bloomberg TV: Payscout Unveils VR Shopping Tech

Payscout is at Shoptalk this week demoing a VR payment experience that shows how easy it could be for users to make frictionless donations in VR, without reaching for their headsets or wallets.

Payscout Chief Operating Officer Juan Sotelo was on Bloomberg TV yesterday to talk about those VR experiences – and how they are poised to change retailing.

You can see the video here: https://www.bloomberg.com/news/videos/2018-03-20/how-virtual-reality-will-change-retailing-video