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PaymentOne – Profile

March 2, 2005

HQ: San Jose, CA
Founded: 2000 (previously eBillit)
Management: Joe Lynham is President, CEO Founder, Visionary, and Leader. He previously founded VRS Billing Systems in the telecommunications sector, which he claims to have taken from startup to $20M in annual revenues within 3 years.
Investors: Company was bootstrapped by founder.
Business Model: Hosted payment software/services for Internet transactions. Its most successful offering is PhoneBill, which takes online transaction offline to the phone where some customers feel more secure. Rather than charging credit cards, PaymentOne allows customers to charge to their phone bills. More than 2.5M consumers have signed up for PhoneBill. Clients include ISPs and digital content companies. Annual billings through PaymentOne exceeded $234M in the second year of operation and it was number 11 on Deloitte & Touche’s 2004 Technology Fast 50 for Silicon Valley.
Competitors: Bumps into various sectors but primarily micropayment companies like Paypal, Bitpass, Yaga, and Peppercoin.
Dirt: PaymentOne feels that its rocket booster might be abroad. Fewer people in Latin America and Asia hold credit cards so eCommerce has yet to take off there to the extent that it has in North America. Despite competition from biggies like Paypal the company feels like it is quickly staking out its own territory. Let’s see how fast others emulate.

3 Comments leave one →
  1. June 1, 2006 3:10 pm complimentwhosewondered

  2. June 1, 2006 3:12 pm complimentwhosewondered

  3. June 20, 2006 10:54 am

    Edmonton dominated the Carolina Hurricanes on Saturday night and the 4-0 margin in Game 6 makes it hard to imagine the Oilers not hoisting hockey’s Holy Grail above their heads in less than 48 hours. And it would not come as any shock to see defenseman Chris Pronger, who had another 31-minute night, take the honors for the Conn Smythe Trophy as the playoff MVP.

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