PCM vol. 3 Issue 9

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Spotlight You think you have what it takes to start a business in a super-hot market? PCM takes a close look at some of the most innovative and promising startup companies in the payment industry.
STARTUP SPOTLIGHT Nichole Montoya, Co-Founder & CEO of Cheddar Up “CHEDDAR UP IS REINVENTING HOW ORGANIZERS COLLECT. THE PLATFORM HELPS HUNDREDS OF THOUSANDS OF ORGANIZERS MOVE AWAY FROM PAPER AND CLUNKY TOOLS AND OFFERS A LOW-COST, USER-FRIENDLY PLATFORM TO MOVE ONLINE, MANAGE COLLECTIONS, AND SAVE TIME. ” Collecting money from a group of friends for joint gifts, trips, or dinners is usually a trying experience. In almost every case, someone needs change for a large bill, someone claims he’s already paid his portion of the tab, and someone asks if he can pay at a later date. We talk to Nichole Monoya, co-founder & CEO of Cheddar Up which is a web-based tool that simplifies the process of settling group payments without relying on cash or checks. PCM: Tell us about Cheddar Up. How did this idea come to be? Nichole: Cheddar Up was born out of the need for an organizational, payment-focused toolset. I was looking for a payments-forward, evite-like tool, but it didn’t exist. I was writing a lot of checks and filling out a lot of paper forms, and it was slowing me down. And I was just on the paying side of it. I imagined being the organizer – who was receiving all those checks and paper forms – and quickly understood the administrative burden of it all that needed to be solved. I studied the market and surveyed my peer group and they all had the same challenges. So we set about creating and growing Cheddar Up. PCM: Why is it called Cheddar Up? Nichole: Our name is sort of a play on words. “Cheddar” is a slang term for money, and the concept of settling “up” refers to paying someone. The combination of those two combined created a brand that we felt was just playful enough to solve this universal problem. It’s a light-hearted name and brand that takes the once cumbersome task of collecting from many people – and makes it easy and approachable. It’s also a brand that can appeal to just about any demographic or use case. PCM: Why is Cheddar Up needed? Nichole: Cheddar Up helps organizers simplify collecting. An “organizer” can be just about anyone – PTA volunteer, booster club president, HOA treasurer, team parent, direct seller…the list goes on. But they typically have a few things in common. They need a tool that: • Can accommodate changing and ongoing collecting needs • Can be easily handed off to the next person taking over • Can centralize and organize payments and information from many people (avoiding payments coming at them via many different payment methods) PCM: What makes Cheddar Up different? Nichole: Many things make Cheddar Up different. In addition to payments and forms, one-stop track-ing, and easy start and handoff…Cheddar Up has low fees and anyone can pay on Cheddar Up WITHOUT having to download an app or become a registered user. We’ve eliminated all barriers to entry for both organizers and payers. 17
Page 1 and 2: Vol 3. Issue 9 | September 2017 YOU
Page 3 and 4: Contents STORIES 4 PSD2, from a ret
Page 5 and 6: THOUGHT LEADERS CORNER Frédéric M
Page 7 and 8: THOUGHT LEADERS CORNER RetailNOW Re
Page 9 and 10: - NEVER JUDGE A BOOK BY ITS COVER -
Page 11 and 12: THOUGHT LEADERS CORNER Edoardo Fior
Page 13 and 14: EXPERT INTERVIEW Accelerating Digit
Page 15: EXPERT INTERVIEW PCM: What are your
Page 19 and 20: Payment Collective To get a more co
Page 21 and 22: PAYMENT COLLECTIVE PSD2: Challenges
Page 23 and 24: WORKSHOPS Payment Services Directiv
Page 25 and 26: Executive Profiles In this BRAND ne
Page 27 and 28: EXECUTIVE PROFILES OB continously f
Page 29 and 30: SPECIAL FEATURE Can we bridge the A
Page 31 and 32: SPECIAL FEATURE Fintech Battle: Pol
Page 33 and 34: EVENTS Events Dubai, UAE Revolution
Page 35 and 36: EVENTS 26-27 Dubai, UAE You are abo
Page 37: Take Your FinTech Career To The Str

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