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:

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.

Going Global? You’ll Need These Multi-Layered Fraud Solutions

Cross-border ecommerce represents a tremendous opportunity for enterprising entrepreneurs, but the opportunity comes with a caveat: Cross-border fraud is on the rise.

Fortunately, emerging technologies are adding advanced layers of fraud protection to facilitate safe, secure transactions that enable entrepreneurs to maximize the opportunity.  The progression is rather simple, really: An entrepreneur selling widgets out of a brick-and-mortar operation realizes the expanded reach an ecommerce site would afford them and they start processing online.  As market share grows and business booms, the prospect of expanding the customer base by going global is too compelling to miss.  But what changes when an entrepreneur wants to start processing (and fulfilling) card-not-present (CNP) transactions across borders?  The biggest obstacle is unquestionably fraud – and the potential solutions are driving a revolution in multi-layered fraud protection technologies.

Consider the technology designed to mitigate fraud in each of the merchant channels described in the example above. At the point-of-sale (POS), EMV (Europay, Mastercard and Visa) technology is already dramatically reducing the risk of identity theft and card/PAN (personal account number) theft.  However, as technology improves at one level, the fraudsters find their new opportunity at the next.  In domestic CNP transactions, technology tools such as address verification services (AVS) and CVV2 are standard here in the United States.  In cross-border commerce, however, the entrepreneurs (and consumers) require added layers of security.

Multi-layered fraud tools (such as Payscout’s fraud solution suite) connect to multiple data sources, such as device fingerprinting and geo-location services, on top of the AVS and CVV2 solutions.  Those added layers of security support more secure transactions, provide further insight and promote quality know-your-customer (KYC) practices.  Cross-border merchants need fraud solutions that create customized fraud algorithms, based on the entrepreneur’s requirements, that connect to multiple data sources.  With these solutions in place, merchants can protect their bottom line – and their margin growth.

These technology tools (and partnering with the right payment processor to provide them) help merchants reduce risk and maintain margin growth.  Payscout is leveraging these tools on a global scale in an effort to achieve its mission to “support the entrepreneurial dream one [secure] transaction at a time.”

The Key to Great Culture? Lead by Example.

Payscout CEO Cleveland Brown spent the morning of February 15 at his alma mater, UCLA, delivering a guest lecture to 75 bright minds in Professor Hopenhayn’s Economics of Entrepreneurship class at the Anderson School of Business.  Coincidentally, the guest lecture he delivered was both about – and itself a reflection of – Payscout’s Culture.  Mr. Brown spoke to the students about achieving their entrepreneurial dreams through a commitment to creating culture through the foundation of a Vision, Mission Statement, Cultural Attributes, and Belief.  “It’s great for these students to learn a logical progression on implementing culture as fundamental to entrepreneurship,” said Hugo Hopenhayn, Professor of Economics at UCLA and a fellow of the Econometric Society. “It is imperative that our students are taught the real world challenges and to have someone that has been in their shoes to lead by example.”  Setting that example, and making the time to volunteer as a guest lecturer at his Alma Mater, is just one of the ways Payscout CEO Cleveland Brown exemplifies Payscout’s Belief, “every individual has a social responsibility to make the world a better a place.”  “The Culture is our foundation,” said Brown, “our Vision, Mission, Cultural Attributes, and Belief help guide the decision-making process for our team and make Payscout a great place to work.”  Those benefits of great culture are starting to pay off.  Payscout was recently featured on Entrepreneur’s Top Company Cultures list, a comprehensive ranking of U.S.-based businesses exhibiting high-performance cultures.  The Top Company Cultures list placed Payscout at #17 among medium-sized businesses.  “Having great culture is the thing we’re most proud of at Payscout,” said Brown. “It’s an honor for me to come to UCLA, live up to our Belief statement, and use this opportunity to speak to the business leaders of tomorrow about the keys to creating great culture.”

Leadership Training for the Future

On Thursday, March 2, Payscout partnered with the Jefferson Awards Foundation to support the Students In Action leadership training event in Downtown LA.

The Jefferson Awards Foundation launched the Students In Action program in 2006 with a goal of developing today’s students into tomorrow’s community leaders. The three pillars of the program are Leadership, Engagement, and Impact, and on Thursday, over 140 high school and middle schoolers from the greater Los Angeles area gathered for a day spent honing their leadership abilities.

Payscout Chief Operating Officer Juan Sotelo was an active participant in the event, supporting the training curriculum by delivering a presentation on Ethics. In his talk, Mr. Sotelo emphasized the importance of leading with integrity – and why ethics matter for student, business, and community leaders alike.

“This was our vision when we announced our partnership with the Jefferson Awards Foundation and launched Payscout Gives,” said Mr. Sotelo, referring to a series of community outreach initiatives that focus on supporting education and social entrepreneurship. “The chance for us to support leadership training for tomorrow’s community leaders ties directly to our company Belief statement: every individual has a social responsibility to make the world a better place.”

“We’re elated and thrilled to have a partner like Payscout to support and participate in an event where we power students to have maximum impact on the issues they care about most through our Students In Action program,” said Jackeline Muñoz, Greater Los Angeles Regional Program Manager at the Jefferson Awards Foundation. “We are empowering the leaders of tomorrow, and Juan and the Payscout team not only had a direct impact in helping make our training a success, but they also serve as an extraordinary example of compassionate leadership.”

Recognizing Our Partners This Season.

Dear Valued Partners and Customers,

We would like to express our gratitude.

At Payscout, we have been very fortunate to experience tremendous growth over the last several years. Payscout has been recognized by Inc. Magazine as one of America’s fastest-growing, privately-held companies for three years in a row, ranking #2,416 in 2014, #434 in 2015, and #383 overall in 2016, as well as #27 for financial services and #5 among payment processing companies.

We could not have had this success over the years without the support and constructive collaboration of partners like you. That’s why we’re relaunching our partner newsletter this December. From cutting-edge emerging technology to breakthrough global payment solutions, we have a lot to share with you and  know  you’ll always be  integral to our continued efforts to expand.

We are committed to holding ourselves accountable to the achievement of our Mission, “to support the entrepreneurial dream one transaction at a time,” and we recognize that partners like you enable us to fulfill this ambition. We hope you will find the updates and news items in our new publication relevant to your interests, because we will always strive to acknowledge the fact that your success is our success, and we’re thrilled to share this incredible business journey with you.

Happy Holidays from Payscout.

Please keep an eye out for our ongoing Partner News editions throughout 2017.


Manpreet Singh

Co-Founder & President

“Payscout Supports the Entrepreneurial Dream One Transaction at a Time”

This Holiday, Don’t Let “The Grinch” Steal Your Data.

The Holiday Season represents a tremendous opportunity for merchants looking to capitalize on ecommerce sales. With the increasing threat of cyber attacks and data security breaches, it also presents a unique set of challenges for business owners looking to capitalize on the seasonal uptick in online shopping.

The 2016 holiday shopping season is going to keep a lot of data security professionals busy.

ThreatMetrix, a digital identity company, recently released a 2016 cybercrime report in which they predicted a sharp increase in cyber attacks targeting key retailers during the 2016 holiday season; with a potential 50 million cybercrime attacks during the peak shopping week.

In addition to the substantial volume of predicted attacks, the complexity of these cybercrimes continues to evolve.

“Attacks have evolved from being one-dimensional with a singular purpose to being a Frankenstein’s monster of attack vectors, using bots, social engineering and remote access stealth in various combinations,” says Vanita Pandey, vice president of strategy and product marketing at ThreatMetrix. “Fraud prevention is no longer simply about timely detection but about getting under the skin of evolving attack patterns to better thwart the rise of cybercrime.”

The increasing complexity of these attacks – and the preventative measures that ward against them – come at a time when most retailers and etailers are overestimating the efficacy of their endpoint security.

In a recent Tripwire study conducted by Dimensional Research, retail IT professionals were found to be overconfident in their ability to efficiently identify and mitigate a cyber attack. Seventy-one percent believed they could detect configuration changes to endpoint devices on their organizations’ networks within hours, but only fifty-one percent knew exactly how long the process takes.

The combination of increasingly complex cyber crime attacks, and overconfidence in endpoint security, means the solution providers who can deliver on the promise of increased fraud protection will help their clients move confidently through another busy holiday season for ecommerce shopping

Consumers ready to buy, but also worry.

Reports from another recent payments study suggests online shopping will continue to surge this holiday season, but this promise also comes with increasing consumer concerns about the security of cardholder data.

76 percent of 1,900 consumer respondents in the United States and UK, plan to shop online this holiday season. Many are planning to spend as much or more than they’ve spent online in the past: 55 percent of respondents said they’ll spend the same amount and 19 percent are planning to spend more.

Despite this optimistic outlook, consumers are increasingly reticent about security.

When asked if they’re concerned about security when disclosing their credit card and bank information online, 74 percent of these same respondents agreed – and 45 percent strongly agreed.

Consumer concerns are amplified when considering shopping at retailers that have recently experienced a data breach. More than half of respondents, 57 percent in total, said they would not shop with retailers who had experienced a breach. Almost a third, 31 percent, said they strongly agree that they would avoid that retailer.

So, what does all of this mean for online entrepreneurs? It means this holiday season is shaping up as a tremendous opportunity – but one data breach could not only compromise the security of a customer-base, it could undermine the merchant’s ability to maximize the pending holiday shopping surge

Payscout is here to help.

Fortunately, for both payment solution providers and the merchants they serve, Payscout can help.

With a leading global team of managed risk analysts and fraud-management experts, Payscout is poised to protect retail and ecommerce businesses with automated fraud screening and manual review to ensure the business – and its customers – remain secure.

Click here to learn more about Payscout’s fraud management tools.

Moreover, just in time for the holiday season, Payscout recently announced a partnership with Protocol, a recognized thought leader in data security standards for Payment Card Industry (PCI) Compliance. Payscout and Protocol will work together to build a strong data security foundation built on best practices, but also customized on how each merchant client handles and processes cardholder data.

There is a lot on the line for business owners this holiday season – and all year long. Entrepreneurs should focus on doing what they do best: providing the goods and services that help earn their customers’ loyalty.

When it comes to data and security, leave it to a global payment processing partner with Integrity/Trust and Reliability built into the very foundation of its business.

This holiday, Payscout is here for online entrepreneurs and their payment services providers, to make the most of a promising shopping season.

Virtual Reality is the Future of Global Ecommerce.

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

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

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

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

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

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

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

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

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

Payscout has a solution.  

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

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

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

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

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

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