Tag Archives: culture

OFAC Compliance and Why It’s Important

by April 12, 2021Awards, Company Cultureaward, company culture, culture, top workplace, twpMegan Yardis

April 12, 2021Awards, Company Cultureaward, company culture, culture, top workplace, twpMegan Yardis

Who is OFAC? The Office of Foreign Assets Control (OFAC) is a division of the U.S Department of the Treasury that supports U.S foreign policy by enforcing sanctions against countries and groups. Entities under U.S sanctions include foreign governments, narcotics traffickers, money laundering culprits and organizations involved in terrorism or the proliferation of weapons of … Read More

Paymerang CARES Distributes Over $35.6 Million in Refunds to Students

by April 6, 2021Awards, Company Cultureaward, company culture, culture, top workplace, twpBrian Cook

April 6, 2021Awards, Company Cultureaward, company culture, culture, top workplace, twpBrian Cook

“Issuing CARES Act payments to students via Paymerang was a no-brainer when it came to convenience, lower costs, and quality customer service.” -Controller, Goshen College To help our higher education institution clients, Paymerang has provided resources to support the government funded CARES Act. Through our Paymerang CARES program, launched in April 2020, we were able to help our … Read More

Paymerang Named to RTD’s Top Workplaces 2021

by March 31, 2021Awards, Company Cultureaward, company culture, culture, top workplace, twpGloria Garber

March 31, 2021Awards, Company Cultureaward, company culture, culture, top workplace, twpGloria Garber

Paymerang is honored to be named a Top Workplace in Richmond for 2021. “We’re humbled by this recognition and take great pride in our company culture and especially in our team members,” said Nasser Chanda, CEO of Paymerang. “Our rapid growth and success within the past year is attributed to the dedication of each of our … Read More

Magnolia Regional Health Center Raves about Paymerang Efficiency

by March 24, 2021Awards, Company Cultureaward, company culture, culture, top workplace, twpColleen Crist

March 24, 2021Awards, Company Cultureaward, company culture, culture, top workplace, twpColleen Crist

Prelude Software, a leading provider of payment management technology, has partnered with Paymerang, an award-winning accounts payable automation solution. This partnership solution allows hospitals to send their payments directly from their MEDITECH Accounts Payable, through Prelude’s PayPilot solution to Paymerang for payment processing with one click. The Prelude PayPilot Processing Module, in connection with Paymerang’s solution, is now available to … Read More

Paymerang Celebrates Employee Appreciation Week

by March 22, 2021Awards, Company Cultureaward, company culture, culture, top workplace, twpGloria Garber

March 22, 2021Awards, Company Cultureaward, company culture, culture, top workplace, twpGloria Garber

At Paymerang, our incredible employees are the backbone of our operations and the drivers of our tremendous growth. To celebrate all our teammates for their integrity, grit, passion and positivity, we hosted a week-long Employee Appreciation event! Each day we held a different event to show our appreciation for our teammates, culminating in an end-of-week … Read More

Paymerang Certified as an Active RVA Workplace

by March 10, 2021Awards, Company Cultureaward, company culture, culture, top workplace, twpMegan Yardis

March 10, 2021Awards, Company Cultureaward, company culture, culture, top workplace, twpMegan Yardis

We are excited to announce that Paymerang has been recognized as an Active RVA Workplace for the second year in a row! The Active Workplace Certification from Sports Backers recognizes organizations in the Richmond region that support their employees to maximize their health and wellness through regular physical activity. 2020 was a challenging year but … Read More

Paymerang Earns #1 Ranking as Top Workplace in Richmond

by October 15, 2020Awardsaward, company culture, culture, top workplace, twpGloria Garber

October 15, 2020Awardsaward, company culture, culture, top workplace, twpGloria Garber

Results based on employee engagement & workplace culture Paymerang is proud to be named a Top Workplace in Richmond and earn a coveted top ranking among this year’s Top Workplace companies. We were ranked #1 in the small company size category of the annual Top Workplaces rankings conducted by the Richmond Times-Dispatch in partnership with … Read More

How a Top-Workplace Maintains Culture During Crisis

by May 13, 2020Company Culturecareers, covid-19, culture, human resources, maintain culture, people, top workplaceGloria Garber

May 13, 2020Company Culturecareers, covid-19, culture, human resources, maintain culture, people, top workplaceGloria Garber

In today’s modern work environment, company culture is vital. According to a Glassdoor survey, 56% of employees find a good workplace culture to be more important than salary. The Coronavirus (COVID-19) pandemic has disrupted life as we know it, causing many organizations to transition to a 100% work-from-home environment. Paymerang quickly made this transition and our … Read More

Shifting Your Organization to a Growth Mindset

by August 22, 2019Insightscompany culture, culture, fintech, growth, growth mindset, high growth organizationGloria Garber

August 22, 2019Insightscompany culture, culture, fintech, growth, growth mindset, high growth organizationGloria Garber

You may have heard the term “growth mindset” used in the workplace in recent years. While the concept itself is not a new idea, there has been a resurgence of the phrase as it applies to modern organizational cultures. The payments industry is evolving rapidly today, with a growing set of electronic payment options that … Read More

OFAC Compliance and Why It’s Important

April 12, 2021Awards, Company Cultureaward, company culture, culture, top workplace, twpMegan Yardis

Who is OFAC?

The Office of Foreign Assets Control (OFAC) is a division of the U.S Department of the Treasury that supports U.S foreign policy by enforcing sanctions against countries and groups. Entities under U.S sanctions include foreign governments, narcotics traffickers, money laundering culprits and organizations involved in terrorism or the proliferation of weapons of mass destruction.

Importance of OFAC Compliance

Many companies underestimate how serious the consequences of having an OFAC violation can be. Organizations not complying with OFAC-administered sanctions are liable for significant penalties, even if their action was unintentional or uninformed. The importance of reducing the likelihood of payments being sent to individuals or organizations determined to be threats to US national interests is paramount.

Penalties can include:

Civil penalties: $250,000 or twice the amount of each underlying transaction up to $1,075,000 per violation.
Criminal penalties: $50,000 or $10,000,000 fine; 10-30 years in prison
Publication of penalty: OFAC publishes the names of companies that have been penalized

See below for drastic increase in entities on the OFAC list since 1994.

How to Mitigate Risk of OFAC Violations

Screening customers, clients, and vendors should be a key element of any compliance program. Using an ePayments or Finance Automation company for Accounts Payable payments is the best way to effectively protect your company against doing business with vendors on the government’s Do Not Pay list and avoid the penalties.

Our solutions at Paymerang have built in compliance enhancing functions, such as centralized record-keeping for audit purposes, that are critical to being able to demonstrate OFAC compliance. A common short falling of many organizations is not updating the Do Not Pay list, which you can see below is growing exponentially.

Is Your Business OFAC Compliant?

Take some time to assess your compliance program. Does it include OFAC? Are you screening adequately? Does your training include sanctions programs and compliance?

Paymerang is well-equipped to assist your company in establishing a comprehensive compliance program or improving an existing one. We can also assist with training and auditing. Contact us for a free demo.

Paymerang CARES Distributes Over $35.6 Million in Refunds to Students

April 6, 2021Awards, Company Cultureaward, company culture, culture, top workplace, twpBrian Cook

“Issuing CARES Act payments to students via Paymerang was a no-brainer when it came to convenience, lower costs, and quality customer service.” -Controller, Goshen College

To help our higher education institution clients, Paymerang has provided resources to support the government funded CARES Act. Through our Paymerang CARES program, launched in April 2020, we were able to help our higher education clients quickly disburse CARES Act payments to students. Our higher education clients were able to send simple, digital CARES Act payments to students with zero disruptions to their existing processes. Most importantly, these payments were sent electronically and delivered directly to students.

29,000 students nationwide were able to receive their funds more quickly and more securely

To send the secure eChecks faster and more securely, all our higher education clients had to do was upload their CSV file, fund the payments, and mark the items as paid. This simple and straightforward process allowed us to provide our clients with a quick resolution to distributing their funds.

Paymerang CARES payments were sent directly to student email addresses to ensure direct delivery to students. Once students received the funds, they had multiple deposit options: print from home and deposit personally or using mobile deposit, direct deposit via ACH (eDeposit), or deposit to a Visa debit card. The past year has been filled with uncertainty, especially for students with postponing graduation, missing milestones, and having to adapt to attending classes remotely; Paymerang wanted to ensure full transparency and security regarding students’ finances in the midst of the unknown.

88% of all payments were distributed electronically

We were proud to offer this program to our clients and help alleviate some of the unforeseen circumstances caused by the pandemic.

You can click here to learn more about Paymerang CARES.

Paymerang Named to RTD’s Top Workplaces 2021

March 31, 2021Awards, Company Cultureaward, company culture, culture, top workplace, twpGloria Garber

Paymerang is honored to be named a Top Workplace in Richmond for 2021.

“We’re humbled by this recognition and take great pride in our company culture and especially in our team members,” said Nasser Chanda, CEO of Paymerang. “Our rapid growth and success within the past year is attributed to the dedication of each of our employees. As our organization continues to scale, we continually revisit our core values and act on feedback to provide the best experience to our employees and clients.”

Chanda expressed pride in the team’s focus on positivity and exceptional customer service during the unprecedented times caused by the pandemic. “We’ve kept innovation and spirits high while continuing to deliver value and security for our customers and their vendors,” he said.

Paymerang is also deeply invested in fostering an environment of inclusion and growth for team members. “This year, we’ve invested in training and developing our emerging leaders as well as building bench-strength in all areas of the company,” Chanda added. “Our goal is to cultivate an environment of continuous learning, where team members can discover their strengths, master new skills, and grow within the company.”

The recognition is based on results from the eighth annual Top Workplaces program conducted by the Richmond Times-Dispatch and Energage, a Pennsylvania-based employee research firm. The program surveys employees about workplace culture, values and leadership, among other criteria.

Paymerang is one of 26 organizations in the Midsize category (125 to 399 employees). Last year, Paymerang ranked #1 in the Small size category.

Magnolia Regional Health Center Raves about Paymerang Efficiency

March 24, 2021Awards, Company Cultureaward, company culture, culture, top workplace, twpColleen Crist

Prelude Software, a leading provider of payment management technology, has partnered with Paymerang, an award-winning accounts payable automation solution.

This partnership solution allows hospitals to send their payments directly from their MEDITECH Accounts Payable, through Prelude’s PayPilot solution to Paymerang for payment processing with one click.

The Prelude PayPilot Processing Module, in connection with Paymerang’s solution, is now available to customers within MEDITECH’S customer base, which consists of thousands of hospitals across the United States.

“This partnership solution connects directly to our MEDITECH Accounts Payable, so we have one click that sends the payments through Prelude’s PayPilot solution directly to Paymerang and they handle the rest,” said Haven Caldwell, Controller, Magnolia Regional Health Center. “This has been a game-changer for us.”

The process is now easy and seamless for healthcare organizations, and they can experience the time and material savings benefits of Paymerang through this partnership.

Paymerang’s partnership with Prelude Software is designed to reduce both the hours and the materials required to process payments by helping hospitals automate their entire accounts payable process – saving hospitals time, resources and money.

Christian Albarracin, Executive Director of Finance at Magnolia Regional Health Center applauded the solution, “Having more time to focus on our strategic goals and achieving our mission of improving the health of the communities we serve, one patient at a time, is invaluable.”

Prelude’s PayPilot makes it easy for MEDITECH Expanse Hospital clients to use Paymerang for its disbursement. This comprehensive solution allows hospitals to pay their vendors faster and more efficiently.

Interested in learning more? Schedule a call now.

Paymerang Celebrates Employee Appreciation Week

March 22, 2021Awards, Company Cultureaward, company culture, culture, top workplace, twpGloria Garber

Each day we held a different event to show our appreciation for our teammates, culminating in an end-of-week Employee Appreciation Awards!

Read on to find out how we celebrated!

Monday- We kicked off our Employee Appreciation Week with an ‘Extra’-ordinary treat!

Tuesday- As a way of showing our appreciation for our teammates, we’ve arranged for Extremes Mobile Services to stop by the office to give our vehicles some TLC!

Wednesday- We continued Employee Appreciation Week with some kettle corn to thank our teammates for making Paymerang a sweet place to work!

Thursday- We celebrated our Spec-tacular teammates by giving out Paymerang blue light blocking glasses!

Friday- We concluded Employee Appreciation Week with a Virtual Awards Ceremony! We voted on our teammates that exemplify each of our values and gave out some fun awards too!

Here at Paymerang we want the best for our employees. We believe our employees will accomplish amazing things when given the opportunity to learn and grow. We value our employees and want them to be successful both in the office and in their personal lives.

Employee events like this are just one of the reasons Paymerang has been named a Top Workplace in Richmond for the past two years!

Nasser Chanda, CEO of Paymerang, said “We are very honored to receive this award and owe it to our talented team members. They embody our culture and values in their daily interactions with colleagues and clients. Paymerang is a Top Workplace because of them, and I’m so proud to work alongside such an exceptional team.”

Thank you to everyone on Team Paymerang for all you do to make Paymerang an award-winning company!

To learn more about our company values and to see current job openings, check out our careers page!

Paymerang Certified as an Active RVA Workplace

March 10, 2021Awards, Company Cultureaward, company culture, culture, top workplace, twpMegan Yardis

We are excited to announce that Paymerang has been recognized as an Active RVA Workplace for the second year in a row!

The Active Workplace Certification from Sports Backers recognizes organizations in the Richmond region that support their employees to maximize their health and wellness through regular physical activity. 2020 was a challenging year but many organizations, including Paymerang, were able to pivot and continue to support and promote physical activity to their employees.

We’re so proud of our team for adopting, supporting, and engaging in our wellness initiatives that are infused into our daily operations. We’ve seen workplace wellness programs enhance our company culture, boost creativity and increase productivity and job satisfaction.

We implemented some of Sports Backers’ recommended best practices and have seen an incredible amount of participation from our team.

At Paymerang, we have a designated walking break every day called Walking for Wellness. We participate in walk/run events like the Anthem Corporate Run and the American Cancer Society’s Making Strides Against Breast Cancer Walk. Not to mention a team favorite…the unlimited healthy snacks! We have a wide variety of wellness opportunities that fit a variety of age ranges and physical fitness levels.

This year, we’ve started monthly team fitness challenges with a different exercise every month- we’ve already checked planks and wall sits off the list! In February 2021, we also hosted a virtual Lunch and Learn with a Registered Dietician to speak on healthy eating to help reduce stress.

Our values drive our culture and we’re grateful to our employees who exemplify our values of passion, positivity and teamwork every day. We look forward to continuing to work with Sports Backers and provide physical activity opportunities for our teammates throughout the year and beyond!

To learn more about our company values and to see current job openings, check out our careers page!

Follow Paymerang on Instagram to see the behind-the-scenes of our Active RVA Certified Workplace!

Paymerang Earns #1 Ranking as Top Workplace in Richmond

October 15, 2020Awardsaward, company culture, culture, top workplace, twpGloria Garber

Results based on employee engagement & workplace culture

Paymerang is proud to be named a Top Workplace in Richmond and earn a coveted top ranking among this year’s Top Workplace companies. We were ranked #1 in the small company size category of the annual Top Workplaces rankings conducted by the Richmond Times-Dispatch in partnership with Energage, a Philadelphia-based employee research firm.

The rankings were based on the results of an employee engagement survey containing 24 questions about the nominee’s workplace culture, values and leadership, among other criteria. Employers that scored high enough were recognized as Top Wokplaces. Companies were categorized by size (Mega, Large, Midsize, Small) and ranked within their size group to accurately compare results.

“We are very honored to receive this award and owe it to our talented team members,” said Nasser Chanda, CEO of Paymerang, noting that the company had claimed the #2 spot in 2019. “They embody our culture and values in their daily interactions with colleagues and clients. Paymerang is a Top Workplace because of them, and I’m so proud to work alongside such an exceptional team.”

As a leader in the FinTech industry, Paymerang provides innovative ePayment services that improve efficiencies with accounts payable processes through electronic payments that save time, resources, and money for clients throughout the United States.

For more information, contact our team today sales@paymerang.com

How a Top-Workplace Maintains Culture During Crisis

May 13, 2020Company Culturecareers, covid-19, culture, human resources, maintain culture, people, top workplaceGloria Garber

In today’s modern work environment, company culture is vital. According to a Glassdoor survey, 56% of employees find a good workplace culture to be more important than salary.

The Coronavirus (COVID-19) pandemic has disrupted life as we know it, causing many organizations to transition to a 100% work-from-home environment. Paymerang quickly made this transition and our skilled and motivated workforce adapted exceptionally well.

We’ve kept innovation and spirits high while continuing to deliver value and security for our customers and their vendors. Paymerang’s success has always been driven by its strong culture, which has been on display during this unprecedented time.

For two years running, Paymerang has been one of the Richmond Times Dispatch’s “Top Workplaces”. Consequently, we’d like to share the steps we’ve taken during quarantine in the hopes that it sparks some ideas for other organizations.

Daily Stand-up Meetings:

Every team gets together for a daily online stand-up meeting. Joining via video as well as audio helps our teams remain connected and accountable. Everyone is given an opportunity to update their team on their work, as well as ask any questions or raise any concerns they may have. Bonus points if you have a fun background!

Company Celebrations:

At Paymerang, we celebrate with our team on both professional achievements and personal milestones. With the virtual workplace, we have shifted our in-person celebrations to funny e-cards and virtual meetings to help welcome new babies, celebrate marriages, and support one another. We even “skunked” a coworkers yard who is expecting!

Providing Resources:

This is an unprecedented time and we want to support our staff in every way possible. We have compiled lists of resources for our employees to help with home-based work; including, fun activities to keep the kids busy, free classes being offered online, ideas for virtual date nights, and even links to free virtual exercise videos!

Virtual Check-Ins:

Every day, we post a fun game, trivia question, or fun fact to keep our staff engaged. All work and no play makes for a very boring day! Swapping ideas keeps our minds sharp for the task at hand.

Virtual Lunchroom:

The lunchroom is the heart of our office, and often where employees working in different departments get a chance to interact. To keep this company-wide engagement at the forefront, we have moved our lunchroom online to create a virtual lunch hour! Employees can pop in and out as their time allows to visit with others and take a break!

Virtual Walks for Wellness:

Each day at Paymerang, our staff gets together to take a brisk walk through the office park. When working from home, we have kept this tradition alive and shared our walks with teammates. We even have a few extra participants from time to time!

Celebrating the Wins:

Paymerang even created a virtual version of our notorious office gong. Anytime we’ve signed a new client or hit a huge project milestone, we still ring the gong!

Maintaining connections and relationships while working remotely is crucial to preserving your company’s culture. With intention and some creativity, you’ll be surprised at the endless ways you can help your team stay connected while working remote.

Shifting Your Organization to a Growth Mindset

August 22, 2019Insightscompany culture, culture, fintech, growth, growth mindset, high growth organizationGloria Garber

The payments industry is evolving rapidly today, with a growing set of electronic payment options that bring new opportunities for efficiency along with added fraud risks.

This requires industry participants, like Paymerang, to constantly innovate to deliver value for buyers and suppliers while protecting client funds. A skilled and motivated workforce by itself is not enough since the landscape is shifting so fast. Companies need workforces with a capacity for growth and adaptation to thrive in the FinTech space.

Carol Dweck, a renowned Stanford University psychologist, coined the terms fixed and growth mindset after extensive research in students’ attitudes around failure. She found some students rebounded while others were devasted by the smallest setbacks. Dweck describes the simple, yet impactful differences between the two mindsets:

Growth Mindset: People with a growth mindset believe abilities—like talent and intelligence—can be developed through dedication and hard work. They’re more likely to enjoy learning, seek out situations to experiment, and see failure as an opportunity to grow.

Fixed Mindset: Those with a fixed mindset believe the opposite. They feel they “are who they are” and were born with a set level of talent, intelligence, and even interests. Because of this, they’re more likely to seek out opportunities and situations where these views are affirmed (like doing the same job over and over to receive praise) and believe that talent alone—not effort—is the source of success.

While the bulk of this research was conducted on students, these concepts can be seamlessly applied to organizations. Technological advances have made us more efficient, while also increasing complexity of challenges faced by employees. The pace at which we work is faster than ever before and frequent change (and sometimes a little chaos) is to be expected. Adopting and developing a growth mindset in the modern workplace helps increase resiliency in environments that demand quick adaption to change, frequent refinement of strategies, and decisive action within short time constraints.

Implementing a growth mindset into your company culture yields many benefits for individuals and teams. Once people stop worrying about failing, they are more open to creative thinking and problem solving, which leads to the discovery of new and innovative solutions. By trying on new roles and responsibilities, people learn new skills that strengthen their contributions and help them continue their career path.

Fully embracing the growth mindset and applying it time and time again takes deliberate, repetitive practice. How can organizational leaders help cultivate a growth mindset within their cultures?

Here are three tips you can start applying:

Screen for a growth mindset. During the recruitment process, look for traits of a growth mindset in candidates. While interviewing, incorporate questions that dig in to core beliefs, past learnings and setbacks, and the ability to see out challenging tasks or projects. Asks questions such as, “what’s the biggest risk you’ve taken in recent years?” or “give me an example of a time you set an ambitious goal, did you meet it? What went well and what didn’t go well?”. This will give you a sense to what mindset a candidate may be bringing to the team.
Set learning goals. Take the time to understand your employees’ goals. Regularly nudge and encourage new responsibilities (like taking the lead on a project) instead of playing it safe. Be sure to celebrate the learning process and highlight that setbacks are part of the growing process. This will build the resiliency muscles needed to dust one’s self off and to keep pushing forward.
Foster a learning culture, starting with the company leadership. Leaders set the tone and people take note, making it even more important to “walk the talk”. Openly talk about your own successes and setbacks – what you’ve learned, what you’ll do differently next time. Leverage team meetings, town halls and other means of communication to highlight these learnings and encourage discussion and curiosity. Fostering this dialogue shows that it’s safe and encouraged to take risks.

FinTech companies today need to rapidly evolve to meet the needs of the marketplace. If you want to build a high-growth organization that is strong and resilient, start by supporting a growth mindset within your team members today.

Dweck, Carol. Mindset: The New Psychology of Success. New York: Random House, 2006. Print