The company formerly known as Pageonce has changed its name to Check. See for yourself at their new online home, check.me.
Why Check? According to COO Steve Schultz, the name change long had been a work in progress for the company, and includes at least three elements they believe will help consumers and potential partners better understand the brand and the business.
On its face “Check” reminds consumers that the service still represents an alternative to paper checks, arguably part of the original mission of Pageonce. Beyond this, the company appreciates how the name “Check” also reflects the idea of “checking off” tasks that have been accomplished, as well as the importance of keeping one’s finances simple and “in check.”
The evolution of Pageonce to Check is a testament to the evolution of a company that began with an innovative data aggregation tool. Said Schultz in a phone conversation last week, “The company is very different now and has grown to be one of the few companies to provide a digital wallet that includes personal finance management, bill pay, and mobile.”
All of this is geared toward helping the company take better advantage of the $4 trillion bill payment market. “We will continue to focus on innovation in payments,” he added, noting that their peer-to-peer payment feature, PayAnyone, continues to grow since its launch three months ago. The company is especially pleased at the high collection rates (i.e., the rate at which people pick up the money sent to them). Said Schultz, “it is one thing to send people money. People have to actually go and get it.”
“Fortunately, because our average ticket is $400-500, most people have enough incentive to collect the money.”
What else is coming from Check in 2013? Expedited bill pay is one of the features many customers have been longing for. Here, Schultz says that the feature is a “natural fit for us” and is something consumers can expect from Check later this year.
Check is also working more directly with billers. Although formal announcements are still at least a month away, Check will be serving as the mobile payment channel for a number of billers in the near future.
“We found that some billers have no mobile channel, or have tried to build their own,” said Schultz. “Others have tried to develop a specific payment app.”
“What we found is that customers want a simple solution. This will allow bill payment without the traditional PFM linking. Give Check your account number and they’ll be able to do the rest.”
As Pageonce, the company demoed its technology as part of FinovateSpring 2010. See them in action here.