ChargeSmart, enables individuals with Internet access and a major credit card to make payments to billers in five different industries, opens headquarters in San Francisco and, in follow up announcement, chooses operating

officer.

 

ChargeSmart Establishes Headquarters in San Francisco; chooses chief operating officer

San Francisco, July 23, 2008—ChargeSmart LLC, a provider of online payment solutions to the financial and mortgage industries, has opened its headquarters in downtown San Francisco. The new location better supports ChargeSmart’s internal growth as well as the growing interest from the mortgage and auto industries for innovative and user-friendly payment options.

 

ChargeSmart enables individuals with Internet access and a major credit card to make payments to billers in five different industries. Customers submit payments directly to ChargeSmart and indicate the amount they wish to pay and the recipient. The ChargeSmart system accepts, processes and remits payments electronically, ensuring every step from the customer to the payee is accounted for and traceable. Additionally, the company’s easy-to-use interface enables customers to gain reward points or miles from their card issuer.

 

“The Bay area attracts many innovative, high-tech companies, therefore the reason we selected this location,” said Mitch Friedman, co-founder of ChargeSmart. “Having a headquarters in this district will not only allow us to grow as we need to but also feed off the entrepreneurial energy.

“One of our primary goals is to make paying bills easier and more convenient for consumers,” he added. “We want to become the preeminent solution for online bill payment, from mortgages and auto loans to utilities.”

Friedman added, “Since the initial company launch about a month ago, we are seeing double-digit growth in the number of transactions being processed every week. We believe in responsible spending habits and while our solution may not be a fit for everyone, we believe that we are positioning ourselves for rapid growth. Consumers want convenience, and they want alternatives to sending an e-check. With ChargeSmart, payments can be made to non-traditional credit card accepting accounts.”

 

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August 11, 2008—ChargeSmart LLC, a provider of online payment solutions to the financial and mortgage industries, announced that Philip Mikal has been appointed chief operating officer of the company. His responsibilities include day-to-day development, design, operation and improvement of ChargeSmart’s electronic payment platform as well as personal involvement in customer research and analysis.

Mikal joins ChargeSmart from his consulting practice where he works with early-stage start-up companies. He is a serial entrepreneur with a strong background in Internet technology, financial services and the real estate industry. He has founded several profitable Web-based companies and holds a good track record in selling both investors and early customers.

“As ChargeSmart continues to solidify its place as the first choice for online credit card funded bill payment, Philip’s professional experience will be paramount to our continued success,” said Mitch Friedman, co-founder of ChargeSmart. “Philip's background as an entrepreneur and engineer gives him the unique ability to direct ChargeSmart's many new and upcoming initiatives, as well as spearheading our marketing and engineering teams’ efforts.

“His extensive experience working with young start-up companies demonstrates Philip’s ability to deliver world-class online marketing and to make tough decisions in high-risk, low-data environments.” 

“ChargeSmart is comprised of a team of experienced professionals dedicated to providing a convenience to consumers via an additional payment method,” Mikal said. “I want to be an integral part of seeing ChargeSmart reach the level of success I believe it can have.”

Friedman added, “Philip is a start-up specialist who turns ideas into sales and profits. He can lead ChargeSmart from its early success and continue to attract savvy consumers to our convenient one-stop-shop for bill payment.”

Mikal specializes in conducting consumer research and analysis to identify product to market fit for Internet-based services. His success in developing innovative payment products and predicting future trends comes from previous experience in establishing key relationships within the payments ecosystem and directing sales through customer development processes.

 

About ChargeSmart LLC
San Francisco-based ChargeSmart is a revolutionary, comprehensive online payment service that enables consumers to pay their mortgage loans, auto loans and leases, education loans and utility bills using a major credit card. Through its network of more than 4,000 billers across the U.S., ChargeSmart completes transactions using a secure Internet-based payment system.  

The company’s executive team is comprised of financial, technical and real estate experts all of whom recognize the importance of meeting and exceeding consumers’ need for convenience, reliability and efficiency. With more than 50 years of combined Wall Street, realty and technology experience, they share a common goal to modernize the way people view all types of bill payment.
 
For more information about ChargeSmart, visit its Web site at www.ChargeSmart.com or call 415.974.5100.

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