FinovateSpring 2011 / PayNearMe
Presenter Profile:
How they describe themselves: PayNearMe, the cash payment network, enables leading companies in e-commerce, transportation, entertainment, lending, collections, international remittance and beyond to serve the 25% of U.S. households that do not have access to a credit or debit card; those who have plastic but who won’t use it because of concerns over budgeting, security, or privacy; and the 95% of teenagers who prefer to pay with cash. Using PayNearMe, these consumers can complete transactions with cash at a local store, starting with more than 6,200 7-Eleven stores across the United States. When consumers pay with PayNearMe, payees are notified in real-time. Funds are guaranteed 100% good and there’s no risk of fraud or chargebacks.
How they describe their product/innovation: PayNearMe combines a load network with a flexible application development platform that enables consumers to conduct a broad range of remote business transactions. At FinovateSpring, we will demonstrate PayNearMe-based applications in international remittance, retail-enabled bill payment, and mobile payments with cash.
Contacts:
Bus. Dev.: Mike Kaplan, mike@paynearme.com, 908-902-0497
Press: Stephanie Gnibus, GMK Comm., stephanie@gmkcommunications.com, 408-776-9727
Sales: Dave Litwak, dave@paynearme.com, 817-421-9990
Website: www.paynearme.com
HQ Location: Mountain View, CA
Company Founded: 2009
Product Being Demoed: Mobile cash payments
Product Launched: PayNearMe network went live in Sep 2010; new applications added monthly.
- Key Executives
Danny Shader (CEO & Founder), Michael Tibbott (Engineering), Scotty Perkins (Operations), John Minor (Product), Dave Litwak (Sales), Michael Kaplan (Business Development)
Key Stats
- Key Board Members
Danny Shader (CEO & Founder, PayNearMe), Jon Callaghan (True Ventures), Dan Levitan (Maveron), Mark Britto (CEO, Boku)
- Key Advisory Board Members
True Ventures, Maveron, August Capital, and Khosla Ventures Key Advisory Board Members: Bill Campbell (Chairman, Intuit; Lead Director, Apple), Jeff Jordan (CEO of OpenTable.com, former president of PayPal)
- Key Investors
True Ventures, Maveron, August Capital, and Khosla Ventures Key Advisory Board Members: Bill Campbell (Chairman, Intuit; Lead Director, Apple), Jeff Jordan (CEO of OpenTable.com, former president of PayPal)
- Key Partnerships
Retail partnership with 7-Eleven featuring a real-time connection to the PoS infrastructure in all 6,200 company-owned and franchised stores over PayNearMe’s rails.