The good and bad sides of name recognition

The good side...

After only a year under the name Purepay Receivables Automation I was thrilled at the recent TAWPI conference to have so many people approach me and say they had heard of Purepay and heard good things. They would often comment that it was an appropriate name and that we were taking the right direction by looking at our business as more than check processing, and taking a leadership position in receivables automation. With a 15 year history under our previous company names (Creditron and Netvantage) I had wondered how long it would take for the new name to catch on. Apparently the answer is about a year.

The bad side…

We have now joined that elite group of companies including Microsoft, Bank of America, and American Express in that our name recognition and trust in the industry is being used in an internet scam. The scam appears to involve the online sale of a vehicle with the promise to have the transaction guaranteed by Purepay. Of course, Purepay is not in the business of acting as an agent for online auto sales. We have reported this matter to the authorities, and taken what action we can, but this certainly was an unwelcome aspect of our name recognition.

I am sure that this scam will be shortlived now that it has been discovered and reported. Our name and reputation in the industry will be with us for a long time though. Every member of the Purepay Receivables Automation team is proud of our name and our company. We are working every day to build our reputation as an innovative and trusted thought leader in the payments industry.

For the many other thought leaders at TAWPI who recognize that traditional check processing and remittance processing have a limited lifespan, but that the demand for efficient automation of receivables will outlive any single payment type, we look forward to future discussions. Our name is Purepay Receivables Automation and we are ready to serve you and your changing payment needs.