Payscout Engages Congressional Caucus on Virtual Reality

Payscout was in Washington, D.C. last week for a series of meetings with the  Congressional Caucus on Virtual, Augmented, and Mixed Reality Technologies, in which the global payment processing provider  demonstrated the world’s first  VR Commerce solution.

Payscout CEO & Co-Founder Cleveland Brown, COO Juan Sotelo, and Communications and Content Strategist George Smith were on Capitol Hill last week demonstrating their patent-pending Virtual Reality (VR) Commerce  solution in the offices of  Rep. Yvette Clarke (D-N.Y.), Rep. Suzan DelBene (D-Wash.), Rep. Bill Flores (R-Texas), Rep. Darrell Issa (R-Calif.), and Rep. Ted Lieu (D-Calif.), co-chairs of  the Congressional Caucus on Virtual, Augumented, and Mixed Reality Technologies (commonly referred to as the “Reality Caucus”).

Payscout’s meetings with Reality Caucus Co-Chairs were mentioned by Politico in the outlet’s Morning Tech tipsheet.

According to the press release that accompanied the announcement of the Reality Caucus formation, the group was formed:

“…to foster information sharing between Congress and our nation’s world-leading technology industry. These technologies have shown tremendous potential for innovation in the fields of entertainment, education and healthcare. As these technologies develop, questions will inevitably rise in privacy, intellectual property and other areas. This is an opportunity to educate our colleagues and others to ensure Congress is doing all it can to encourage – rather than hinder – these enterprising fields. We look forward to working with our colleagues on both sides of the aisle to help support innovation and address the challenges posed by this emerging sector.”

Payscout is a culture built on innovation, education, and the entrepreneurial spirit, so it is fitting the Reality Caucus would an engage a pioneer in VR Commerce such as Payscout.

Payscout’s patent-pending VR Commerce solution, the first in the world of its kind, enables frictionless payments in VR experiences powered by Visa Checkout. The application  was announced at Money20/20 in Copenhagen, Denmark, and marks the first time that consumers can shop and purchase physical products within an immersive VR experience — and have those products delivered to their homes.

The Reality Caucus will continue to engage Payscout in an effort to advance their educational efforts.

Payscout CFO Obtains Anti-Money Laundering Specialist Certification

Payscout Chief Financial Officer Dan Gardner is now a Certified Anti-Money Laundering Specialist (CAMS) after successfully completing his certification with the Association of Certified Anti-Money Laundering Specialists (ACAMS).

The ACAMS is the largest international membership organization dedicated to enhancing the knowledge and expertise of financial crime detection and prevention professionals, from a wide range of industries, in both the public and private sectors.

The CAMS certification is the global gold standard in anti-money laundering (AML) certifications.

The certification places Gardner among an esteemed international group, which includes members of financial institutions, regulators, NGOs, and more, who are involved in the flow of money and the controls related to tracking and reporting activity.

As a voluntary undertaking, the successful completion of the CAMS certification process demonstrates not only a commitment to Payscout’s core Cultural Attributes of Integrity/Trust, but also a broader movement in the financial services industry to create a “culture of compliance.”

Payscout, a leading global in payment processing provider operating on six continents, recently received its Financial Institution (FI) License in the EU and is now a regulated entity. For the Chief Financial Officer to voluntarily obtain a CAMS certification suggests Payscout is intent upon acting with the utmost Integrity, both as an FI in the EU, and more broadly as the thought-leading global payment processing provider in the world.

Payscout #38 Among Largest Minority-Owned Businesses in LA

Payscout has been ranked #38 on the Los Angeles Business Journal’s 2017 list of Largest Minority-Owned Companies in LA.  The Los Angeles Business Journal published their 2017 list of the 100 Largest Minority-Owned Businesses in LA this week. “Largest” is determined by revenue (2016), but the list also denotes the growth percentage of each company.  Remarkably, among the 100 largest minority-owned companies in LA for 2017, Payscout posted the fourth highest growth rate from 2015-2016. That incredible pace of growth is central to the Vision of Payscout, which is to become the thought-leading and fastest-growing global payment processing provider in the world. Companies must be at least 50% minority owned in order to qualify for consideration on the LABJ’s list. Payscout, which is co-owned by Cleveland Brown and Manpreet Singh, is 100% minority owned.

Partnership Provides Flexible Payment Options in ARM

Payscout recently announced a strengthening partnership with software solutions provider HealPay in alignment with strategies to best serve the companies’ mutual customers.  Many of those customers are entrepreneurs in the all-important accounts receivable management (ARM) space, and the Payscout/HealPay partnership means more innovative, flexible payment integration options.

“When merchants deploy consumer friendly software, they process more payments,” said HealPay Co-Founder and CEO Erick Bzovi. “Our partnership with Payscout gives HealPay a strong back-end provider, allowing us to scale into new markets and attract more growth-oriented merchants. The partnership enables us to double down into the growing Accounts Receivable space.” HealPays’s flagship application, SettlementApp, innovates by analyzing data and providing individuals with flexible payment options. Those options are a key differentiator for ARM firms looking to provide painless, frictionless payment experiences for their customers. Payscout, the global payment processing engine powering HealPay’s front-end solutions, and HealPay are integrated with leading claims management software, accounting software, and payment gateways, enabling automated reports and reducing data entry.  HealPay and Payscout work with large creditors, collection agencies, and attorneys to help them collect payments with the most convenient and reliable solutions.  For both companies, the approach is simple: Partner with the best, most customer-focused solutions providers to deliver streamlined bill pay services and the very best software integrations in the ARM industry. Those solutions make life for entrepreneurs easier, and that’s how Payscout “supports the entrepreneurial dream one transaction at a time.”

Payscout to Bring Virtual Reality to Money20/20 EU

Money20/20, “the global platform that inspires and enables innovators to create the future of money,” is the world’s largest FinTech event, serving as a key industry benchmark and global hub for new deals and business development. On June 27, Payscout will unveil their VR Commerce solution at Money20/20 EU in Copenhagen.  Payscout has announced a Money20/20 EU panel, “Virtual Reality and the Monetisation of Immersive Content,” which will coincide with the launch of Payscout’s innovative and thought-leading VR Commerce payments solution.  The VR panel will be moderated by Payscout Co-Founder and CEO, Cleveland Brown, who will appear alongside Dr. Danny Lange, VP of Artificial Intelligence (AI) and Machine Learning at Unity Technologies; Bill Gajda, SVP, Global Head, Innovation, VISA; Trevor Pollard, VP of Architecture and Design at Westfield; and Paul Aspuria, Filmmaker/Director and Partner at Film Antics Productions, where Aspuria has created multiple 360-degree video, immersive experiences in VR. Together, the group will share their thought-leading insider insights on the monetization of VR content and challenge industry expectations surrounding this emerging technology.

The VR panel coincides with the launch of Payscout’s VR Commerce solution and will feature the unveiling of an immersive 360-degree shopping experience via an exported video recording of a real transaction in VR. Working with the finest IT people in the industry, Payscout is pioneering a completely new vision for online shopping. Payscout’s Vision is to become the thought-leading and fastest-growing global payment processing provider in the world. Payscout’s pursuit of pioneering VR Commerce aligns with the company’s vision to be thought leading.

Payscout COO Addresses Bruin Entrepreneurs at UCLA

On Tuesday, May 23, Payscout Chief Operating Officer Juan Sotelo returned to his Alma Mater at UCLA to address the Bruin Entrepreneurs, a student-driven group of future leaders, on the merits of top company cultures.  Sotelo spent over two hours speaking with the budding entrepreneurs about their various business interests/ventures and the importance of strong corporate culture.  Many of the students cited culture as an important criterium for success, and Sotelo provided a framework on how to define and build culture.  Sotelo drew on his extensive experience at Payscout, which has been recognized for creating an exceptional culture that drives employee engagement, exceeds employee expectations, and directly impacts company success.  Payscout recently ranked #17 among medium-sized businesses on Entrepreneur’s list of Top Company Cultures for 2017.  “Juan’s advice and experience was very inspiring,” said Justin Liu, Bruin Entrepreneurs Board Member and UCLA Class of 2020. “We feel fortunate to have had the chance to learn from him.”  Sotelo’s volunteerism with UCLA is only one of many recent instances of Payscout executives leading by example and dedicating their valuable time in alignment with Payscout’s Belief that, “every individual has a social responsibility to make the world a better place. “

Payscout Founder Volunteers on Turban Day

Cultural empathy is a key component of Payscout’s ability to guide entrepreneurs through the process of taking their business cross-border. Cultural empathy is the ability to accept and understand another cultural point of view, and on April 13, Payscout Co-Founder and President Manpreet Singh volunteered his time to support Turban Day, an event designed to engender cultural empathy.  Turban Day was created by Chanpreet Singh, the founder of Sikhs of New York, in an effort to raise awareness and educate people about Sikhism, the world’s 5th largest religion.  The signature feature of the event involves hundreds of volunteers gathering to tie Turbans on people’s heads.  The timing of the event corresponds with the Sikh holiday of Vaisakhi. The first Turban Day took place at Baruch College five years ago. The event has been gaining momentum ever since.  For the event founder, the idea to educate people about Sikhism came from his personal experiences.  “I’ve been called names like terrorist, ISIS. I’ve heard things like ‘Go back to your country,’” Chanpreet Singh said.  He believes it’s up to Sikhs to educate others about their religion, and at Payscout, our Always Learning cultural attribute suggests education is critical to cultural empathy.  It’s easy for a company like Payscout to talk about cultural empathy and applying the principles of the Always Learning attribute to world religions, but without leadership by example, the promotion of these attributes would ring hollow.  The volunteerism of Payscout President and Co-Founder Manpreet Singh, and his support of Turban Day in particular, suggests these attributes are core to the culture Manpreet is helping to create at Payscout.  To learn more about Turban Day and the Sikhs of New York, visit their Facebook page: https://www.facebook.com/sikhturbanday/

Thought-Leadership in Action: Payscout CEO Leads Advocacy Efforts in Washington, D.C.

In the payment industry, regulatory decisions in Washington can be disruptive to our customers and the payments ecosystem as a whole.  That’s why Payscout proudly sponsored the ACA International Washington Insights event this week and advocated on behalf of entrepreneurs in our nation’s capital.

Payscout CEO Cleveland Brown was joined by Strategic Sales & Business Development Manager – ARM Fran Fisher and Communications and Content Strategist George Smith in a series of meetings on Capitol Hill with legislators, regulators, and dignitaries.  The team heard from numerous Senators and Congressmen from both sides of the aisle about the accounts receivable management industry, sharing bipartisan recognition of the great work being done to fuel the American economy.  On Wednesday, the team had lunch with Former Congressman and Speaker of the House Newt Gingrich.  The Former Speaker provided insight on the current and future state of American politics.  The team also held meetings with the offices of California Congressman Tony Cárdenas, Senators Dianne Feinstein and Kamala Harris of California, Senators Johnny Isakson and David Perdue of Georgia, and Senators Cory Booker and Bob Menendez of New Jersey.  Sitting with our nation’s leadership, Brown led discussions on regulation and legislation such as the Financial Choice Act and the potential impact on the accounts receivable management industry.  Payscout’s Mission is “to support the entrepreneurial dream one transaction at a time.  “Thought-leading strategies, such as sponsoring the ACA International’s Washington Insights event and the additional Capitol Hill meetings Payscout arranged, help to fulfill that mission by creating opportunities to advocate on behalf of the entrepreneurs and consumers we support.

The Secret to Success is Exceptional Customer Service

One of Payscout’s core Cultural Attributes is Customer Happiness. This simple, yet essential, principle is a key driving force behind the company’s success in one of its specialty verticals: Accounts Receivable Management (ARM).  A recent report from Forrester showed 72% of businesses consider “improving customer experience” their number one goal.  One way to achieve that goal is for the leadership team to explicitly state – and continually reinforce – the importance of Customer Happiness.  Payscout has developed an exceptional reputation for customer service in all merchant verticals, including tougher-to-board-and-support industries such as Collections, Money Services Businesses, Marketplaces, and others.

Ensuring success in the ARM industry Accounts Receivable and corporate collecting is one of the most crucial processes for any business owner.  Cash inflow issues can affect every aspect of the business, which is why many entrepreneurs partner with dedicated, professional account collection firms to ensure the accounts receivable process runs and is managed smoothly.  These professional collections (ARM) firms – which play a critical role in ensuring a company is as successful as they can be – that Payscout supports in an exceptional way.  Payscout serves many of the top ARM and debt collection agencies and accounts receivable management agencies in the United States.  Our recorded retention rate was 98.63% at the end of 2015 – a sure sign that the Customer Happiness attribute is yielding an incredible customer experience.  Supporting the entrepreneurial dream!  One of the ways Payscout provides exceptional customer service is by always thinking about the end user – in this case, the small-to-medium-sized business owner who hired a professional collections firm to help them keep their inbound cash flow consistent with the outbound products and services they provide.  These business owners rely on the ARM service provider’s expertise and experience to ensure the accounts receivable process runs properly with up-to-date software, security and verification tools to help clients remain compliant with government regulations.  Payscout is ranked among the top tier of servicers for the receivables management vertical because those are precisely the solutions they provide: security, built-in PCI compliance, real-time automatic settlement, and no duplicate accounting or manual entry.  According to a recent report from Forbes on the Ten Customer Service And Customer Experience Trends For 2017, companies can lose as much as $62 billion per year due to poor customer service.  That’s a powerful example of the value of ensuring Customer Happiness – and for Payscout, that means beginning with the end-user in mind and committing to providing the exact tools the customer needs to succeed.