Tagged services

Ken Rees CEO of Elevate Credit Inc. Talks about the Importance of Technology in Financial Services in Sarder TV Interview

Ken Rees has a long career as an executive in the financial services industry, including being Chief Operating Officer of Think Finance Inc., CashWorks, InnoVentry, and is currently the CEO for Elevate Credit. In an exclusive interview with Sarder TV, the independent learning channel, Rees talks to Chitra Nawbatt, Sarder TV correspondent, about his career, the creation of his new company, effective leadership, and the importance of creating a learning culture in keeping a company vital and competitive.

“Ken Rees is a successful executive and entrepreneur and he has a lot to say about his field of financial services, the impact of technology in his industry and the importance of being a learning organization,” said Russell Sarder, CEO of NetCom Learning and creator of Sarder TV.

“We are excited to be able to offer this interview with Ken Rees as part of our learning video database so that others can learn from the experience of a successful entrepreneur and businessman,” said Sarder.

Ken Rees has spent almost his entire career in the financial services sector, much of it serving customers not well served by the traditional credit and banking industry. In the interview for Sarder TV, Rees talks about why it is important to provide financial services that allow individuals with poor credit backgrounds to get the credit they need while obtaining the ability to improve their credit history. According to Rees, his company, Elevate, helps customers gain access to free financial training and when they demonstrate responsible financial behavior they are rewarded with lower interest rates and additional products. Rees credits much of the success of his online company to being technology driven, allowing for the successful use of big data in innovative ways. These technological advances allow Elevate to use additional resources when making a decision to grants loan, other than the traditional use of credit scores. The Sarder TV interview with CEO Ken Rees provides an insiders view of the online consumer financial lending industry and demonstrates the importance of learning, technology and innovation to company success.

Sarder TV offers provoking, educational and candid interviews so that new entrepreneurs and aspiring business people can learn from them. The database is part of the international Learning Movement created by Russell Sarder to help spread knowledge and inspire a passion in lifelong learning. Operating on the premise that motivated individuals can learn from the experience, the success and the mistakes of others, Sarder TV provides a unique opportunity to see and hear influential personalities talk about the subjects that matter to them. Some of the past interviewees have included Ira Neimark, former CEO of Bergdorf Goodman, Susan Davis, CEO of BRAC USA, and Dan Hoffman, President and CEO of M5

Don’t miss this compelling and informative interview with Ken Rees at Sarder TV.

Sarder TV seeking additional leaders for interviews

Sarder TV is also seeking leaders to interview and is targeting leaders from Fortune 500 companies, and exceptional public figures like Bill Clinton, Oprah Winfrey, Jim Collins, Bill Gates, Warren Buffet and many more. According to the National Venture Capital Association, more than 30 percent to $ 600 million this year has been invested in Web-based education. For investors seeking an opportunity to participate in a multimillion dollar idea Sarder TV presents an excellent investment and is actively seeking investors. Several investors have already expressed an interest in this innovative idea. Investors interested in becoming a part of Sarder TV are invited to get in touch as well, contact us at here.

About Sarder TV

Sarder TV is a learning channel that contains a series of exclusive educational interview videos from top leaders in their industries, as well as motivational videos encouraging our public to succeed in their personal and professional lives, and many more. Russell Sarder, CEO of Sarder TV, has interviewed a series of leaders, who have shared their experiences and how they were able to achieve their success. Some of the names that Sarder has interviewed are: Ira Neimark, former CEO of Bergdorf Goodman; Russ Edelman, co-author of Nice Guys Can Get the Corner Office, Dan Hoffman, and David Hershfield, SVP Online Technology at RedCats.

Related Interest Rates Press Releases

High-Risk Business in Midst of Peak Season: Payscout Comments on Risk Management Services that Assist Travel Agents in Navigating Potential Liabilities

Los Angeles, CA (PRWEB) March 27, 2015

According to the U.S. Department of Commerce, in 2012 the U.S. travel and tourism industry generated nearly $ 1.5 trillion in economic output. This activity supported 7.8 million U.S. jobs, and accounted for seven percent of all U.S. exports. While the majority of activity in the industry is domestic, expenditures by international visitors in the United States generated nearly $ 166 billion in sales and a trade surplus of more than $ 47 billion. (1)

The need for travel agents—and the opportunities for them in the market—continues to grow. Only last week, for example, Airlines for America (A4A), a trade group of U.S. air carriers, predicted that travel in March and April of 2015 will increase about two percent, to an average of 2.2 million passengers a day. In its announcement, A4A attributed the increase in spring air travel to rising U.S. employment and personal incomes, an improving economy, the highest consumer sentiment in a decade, and the continued affordability of air travel. (2)

With increased opportunity, though, comes increased risk. The primary reason for this, says Payscout CEO Cleveland Brown, is that consumers are statistically more likely to dispute and charge back travel agency charges than other types of transactions, leading agencies to be placed in the same risk category as merchants selling adult products, escort and companion services, fortune telling, and sports forecasting or odds making. “The risks are real,” says Brown. “As a sales agent for an airline, for example, an agency might be liable for the entire amount of an airline ticket if it were successfully disputed or were purchased with a stolen credit card.” An additional layer of risk is the future deliverable of the product. A customer may purchase travel up to a year in advance, which leaves the transaction to chargeback exposure up to the time of travel and an additional six months to year after travel, if the consumer is not satisfied with the services.

This particular risk is likely to remain a part of the travel agency business for the foreseeable future. “Until credit card acceptance rules are materially changed,” say travel attorneys Norman Bluth and Mercedes Ozcan, “travel agencies are at risk when a customer perpetrates a fraud. Given this reality, the best way to be protected against credit card fraud is to know your customer. A travel agency needs to obtain as much information as possible from its customers, and to respond to debit memos and chargebacks within a few days of receiving notice of such.” (3)

Travel agents can help their clients avoid the danger of fraud while traveling, which helps build relationships and mutual trust—and may reduce chargebacks. A recent USA Today feature on identity theft lists a number of tips agencies can provide their customers, such as avoiding free, insecure Wi-Fi networks; disabling a smart phone’s ability to automatically connect to hot spots; locking the phone with a password; using cash wherever possible; and avoiding street-corner ATMs. (4)

When working with its clients in the high-risk travel field, Payscout helps agencies spot possible risk patterns, take preventive measures, and protect their businesses while continuing to process payments smoothly. Payscout’s goal is to enable its clients to remain competitive while taking advantage of the growth opportunities in their industry.

“Travel,” says Brown, “is a thriving—and essential—industry in the United States. However, it brings with it a number of issues about which industry participants must be very careful. As far as credit card processors are concerned, travel agencies are among the highest-risk merchants, which means new travel agencies have great difficulty opening a merchant account that enables them to handle credit card transactions. We strongly encourage merchants in this space to work with a merchant service provider who is experienced in managing risk.”

As with any high-risk activity, an ounce of prevention is worth a pound of cure. The most successful travel agencies, Brown notes, train their staff in the proper application of credit card acceptance best practices, and have them apply these practices on a consistent basis. While specific procedures will vary from agency to agency, at a minimum, agency management should be careful to set aside large-value bookings for fraud review, track and store key characteristics of all known fraud transactions, and carefully screen high-risk bookings, such as those in which the passenger and the cardholder have different names, or when the date of travel is less than six days after the date of purchase.

About Payscout, Inc.:

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

Payscout is a global merchant service provider (MSP) and payment service provider (PSP) with tier-one bank sponsorships in the United States, Latin America, Caribbean, Asia-Pacific and Europe. Serving small to medium businesses (SMBs) and enterprise companies alike, Payscout offers payment processing solutions for brick-and-mortar and eCommerce transactions. The company has earned acclaim as a new-generation provider of merchant banking services, specializing in online/eCommerce retailers with a predominant proportion of card-not-present (CNP) transactions; and it is one of the few providers to deliver a true global payment solution that encompasses all merchant risk verticals. Customers can access Payscout’s credit card processing services via a state-of-the-art, web-based user portal and through direct interactions with highly trained experts. In addition to supporting thousands of clients across a multitude of industries and all 50 states, Payscout maintains global partnerships with VISA USA, Bank of America Merchant Services, VISA Europe, VISA Latin America, VISA Asia Pacific, MasterCard Worldwide, China Union Pay, Deutsche Bank, First Data and Payscout Brazil. Payscout was recognized as one of America’s fastest-growing privately held companies in 2014, ranking #2,416 on Inc. magazine’s Inc. 5000 list. Within the financial services industry, Payscout placed #140 nationally and #24 in California. For more information, visit http://www.payscout.com.

1. U.S. Department of Commerce, Industry Snapshots, 2013.


2. Dallas Morning News, March 11, 2015


3. “What to do about the costly problem of charge back fraud,” Travel Market Report, September 26, 2013. travelmarketreport.com/articles/What-to-Do-About-the-Costly-Problem-of-Chargeback-Fraud

4. USA Today, May 15, 2014. usatoday.com/story/travel/2014/05/15/identity-theft/9091065/

Merchants beware of low card processing rates.(bank on it)(merchant financial services ): An article from: Hawaii Business

Merchants beware of low card processing rates.(bank on it)(merchant financial services ): An article from: Hawaii Business

This digital document is an article from Hawaii Business, published by Hawaii Business Publishing Co. on August 1, 2003. The length of the article is 780 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

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Title: Merchants beware of low card processing rates.(bank on it)(merchant financial servi

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