Mobile bill payments platform Pageonce reached a major milestone recently, surpassing $1 million a day in payments processed. How does the company plan to parlay that success into payments for small businesses and individuals? PYMNTS.com spoke with Steve Schultz, COO of Pageonce, to find out.
If you’re serious about eliminating physical check payments from consumers’ everyday lives, you have to enable those consumers to pay for everyday services as well.
That seems to be the central strategy behind the new capabilities introduced by Pageonce: a mobile bill payment company that’s recently added ways to make payments to small businesses and individuals to its mobile payments platform. PYMNTS.com spoke with Steve Schultz, COO of Pageonce, to discuss his company’s digital wallet vision, its decision to dive into the world of individual payments and more.
According to Schultz, Pageonce first launched in 2008 as one of the first 500 apps available in the iTunes marketplace, and has expanded over time to encompass 8 million users through a digital platform.
“For us, it’s bringing together a personal finance, payments, and mobile all in one solution. The personal finance component is seeing how much money I have, looking at my transactions, my cash, what payments I need to make … and really understanding what’s in my wallet,” Schultz explained.
“With payments, obviously that’s taking action, making payments, whether it’s bill payments – which is 50 percent of household expenses – whether it’s making payments to small businesses or other people, or making payments at the point of sale. And all of that, from our point of view, is really going to take place on the mobile device.
It’s really the combination of personal finance, payments and mobile that we’re really strong in, and that’s our vision for a digital wallet.”
The mobile aspect of Pageonce’s vision became reality in November 2011, when they officially launched their mobile bill pay service. Since then, the company has grown to see over $1 million a day in payments processed: something Schutlz partly attributes to the explosion in mobile payments over the past year or so.
The company recently expanded their mobile bill pay service to individuals and small businesses using their “Pay Anyone” platform. According to Schultz, adding this functionality to Pageonce was a decision based largely on direct feedback from consumers.
“We heard a lot from our users, ‘hey, I love paying my bills to providers that you support, but I have all kinds of other bills that I pay locally,’” Schultz said. “I think rent is a good example, as are gardeners or nannies or babysitters or Preschools or soccer leagues: all kinds of things that people need to pay that are typically paid using a paper check. So our point of view was, wow, we want to really expand our service so that we can cover 100 percent of peoples’ recurring bills, and the usefulness of Pageonce, to make these types of hyperlocal payments.”
To hear more Schultz on Pageonce’s growth and its new hyperlocal billing functionality, listen to the full podcast below.
Steve Schultz, COO, Pageonce
Steve leads the business strategy, revenue and business and corporate development at Pageonce. A recognized leader in consumer finance, Steve Schultz joined Pageonce from Yahoo! where he was GM of Yahoo! Finance and Yahoo! Real Estate. At Yahoo!, Steve led business and content strategy, business development and strategic partnerships which included relationships with Intuit, Fidelity, Dow Jones, Scottrade, Bankrate, Bloomberg and Zillow.com. Steve led Yahoo! Real Estate from the #10 to the #2 real estate destination on the Web, and was named one of the 100 most influential leaders in real estate by Inman News in 2009 and 2010.
Steve holds a bachelor’s degree in Economics from the University of California, Davis and an M.B.A. from the University of California, Berkeley Haas School of Business.