ChargeSmart Establishes Headquarters in San Francisco

Business Editors
     SAN FRANCISCO--(BUSINESS WIRE)--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.
     Located in the Soma district, which straddles the financial and technological centers of the city, the new office accommodates ChargeSmart’s current employees and offers additional space for future expansion. In addition to ChargeSmart, various start-up businesses, in both the early and more established stages of development, are common in the area. And branches of multiple large financial institutions surround these companies.
     â€œThe Bay area attracts many innovative, high-tech companies, hence 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.
     â€œOne 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.”
     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.
     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.”
     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.
    For ChargeSmartMedia ContactsCharlyne H. McWilliams, 301-933-5567orMegan Ard, 678-781-7223
    State Keywords: CaliforniaIndustry Keywords: Technology; Internet; Automotive; Professional Services; Banking; Finance; Other Automotive; Construction & Property; Residential Building & Real EstateSource: ChargeSmart LLC