We’re proud today to introduce our new corporate brand that reflects the success YapStone has achieved and that establishes our vision for the future of our company. The re-branding effort is tangible evidence of an energized focus on the YapStone story and our 15 years of success in the payments industry – supported by new brand identity and a corporate website. As a project of this magnitude required thoughtful examination into who we are and why we exist, we sat down with Troy Scarlott, SVP of Marketing, to discuss the strategic development of the YapStone brand.
What brought about the decision for a YapStone rebranding effort?
Troy: Our first goal for YapStone’s rebranding effort was to position the company in support of our focus and purpose. One of my marketing influences, Simon Sineck, believes that every organization should understand why they exist. One of the first exercises we did as a management team was to figure out the “why” and it brought us back to our namesake, YapStone. On the island of Yap, a small island in the Western Pacific Ocean, the Yapese people developed a form of stone currency called Rai, or Yap stones, to exchange value in much the same way as we exchange value for goods and service in the digital age. We believe that if we create real value, we’re not just processing transactions… we are developing personal interactions between a business and a consumer. Our payment platform is making that business more effective by delivering convenience, ultimately making people’s lives a little easier. Our payment solutions enable the exchange of mutual value between the property manager and the renter, the vacation home owner and the vacationer, the parish and the parishioner and the charitable organization and the donor. This strategy is now seen in the new tagline, “Powering Payments.”
Tell us about the new tagline, “Powering Payments” and what it means.
Troy: Simply put, and taglines are never simple to come up with, we wanted to emphasize who we are and what we do in an active, positive, forward thinking way. As a hyper growth technology company, we have realized that electronic payments can be a driving force for business success. I think, “YapStone, Powering Payments” – captures it perfectly. And our CEO, Matt Golis, came up with it. I kept trying to beat it yet couldn’t do it.
On the homepage of the new YapStone website, a visitor will immediately see the phrase, “Changing the way the world pays.” Can you explain what that means?
When we say YapStone is “changing the way the world pays,” it serves as an aspirational goal while also supporting what our teams are doing every day. YapStone is focused on developing payment solutions for large markets that are dominated by the paper check. One example, our payment solution for the apartment rental industry, RentPayment, is disrupting the ‘paper check paradigm’ that has dominated the industry for decades. We give renters new ways to pay – from credit and debit cards to using a mobile app. All of our solutions are more convenient than dropping a check in the mail and worrying that it got there on time.
In part 2 of our piece, we’ll take a detailed look at the design and execution of the new website.