What’s in a name?
According to the payments player formerly known as Pageonce – and now known as Check – it’s the story of a company’s evolution.
Check is making its new name official today, as it continues to move beyond its original mission and continues to expand its focus on mobile payments. As the company continues towards its goal of being a single solution that ties together personal payments and finance via smartphone, its new name, “Check,” is supposed to convey multiple aspects of its business.
Why is Check rebranding now, and how have they grown since we last spoke in March? We spoke with Steve Schutlz, COO of Check, in this PYMNTS.com exclusive to find out.
PYMNTS.com: Tell us why Pageonce is becoming Check. What does this signify?
Steve Schultz: Check is a better reflection of who we are, what we do, and the value we deliver to customers. When we started the company in 2008, it was about delivering all your personal information on one page…hence Pageonce. While the service is still highly personal, our value proposition is much different. Now we’re focused on bringing together personal finance and payments on a mobile device. We’ve grown to 8 million users but we think Check will help us get to the next 100 million.
Why are you choosing Check now?
Check is a great name to communicate what we do. First off, it’s short, easy to spell, easy to visualize and remember. This is critical when trying to build a consumer brand. Second, Check symbolizes several meanings that all make sense. It can mean an alternative to traditional paper checks. It can mean a check mark against your financial task (Check…I’m done!). And finally, it can mean keeping your money “in check”. Check has always been built to be fast, efficient and super useful, and the name does a great job reinforcing this value.
Where are you guys now in terms of customers and payments volume, and what have you been up to since we spoke in March?
Check is 8 million-plus users and doing $1.6 million in payment volume per day. Since we last spoke, we’ve been growing payment volume 30 percent month-over-month. One of the more exciting initiatives we’ve been working on is partnerships with billers. We’ve closed several deals to be the mobile payment service of choice for several billers. These partnerships will launch in the next month, and we’ll be excited to share more then.
Did you envision your platform growing like this back when you launched in 2008?
Being one of the first 200 iPhone apps in 2008 began our incredible growth run. We knew smartphones were something special in 2008, but had no idea mobile would take off as fast as it has. When we launched payments at the end of 2011, we knew it had huge potential. But we didn’t know how long it would take for consumers to adopt. The first half of 2012 was relatively modest growth. Then around Oct 2012, payment volume really started taking off and since then we’ve seen 30 percent month-over-month growth.
Tell us what you see coming in the future for Check. Are there any products or services you’re working on that you can tease for the rest of 2013?
We’re going to stay focused on making our product, particularly payments, better and better. Look for some upcoming announcements about our biller partnerships.