 Retail Expansion Network (REN) operates PaidByCash, a patent pending e-commerce service with more than 60,000 affiliated retail stores nationwide that enables any online shopper to pay with cash with a Virtual MasterCard® Card. We are dedicated to helping e-commerce sites reach the 100 million Americans who do not participate in internet retail – either because they lack a credit card, don’t trust giving their credit card over the internet or telephone, or simply prefer cash.
- Value for the consumer: Our innovative technology has already cut the price of completing a cash transaction online by 50%. We will continue to drive costs out of our system and pass those savings to our customers.
- Security and reliability: We take data security and privacy issues seriously, and have created a system that protects our customers. As part of our pledge, we have chosen not to allow our product to be used for gambling, pornography, the purchase of firearms, or any other product or service that is profane or dangerous. We strive to work only with partners and merchants who have demonstrated the same safeguards for security and integrity.
- Award winning customer support: We are available for you 24 hours a day, 7 days a week. Or you can choose to email us or call us if you wish.
- All the benefits and protections of MasterCard®: When you pay cash, you will receive a Virtual MasterCard® Card – which gives you all the protections of the MasterCard® system.
- Ease and convenience: We have linked up 60,000 retail locations for you to easily pay cash in order to make a purchase online. The average urban American lives 0.2 miles away from a retail location (a walk away), the average suburban American lives 1.5 miles from a retail location (a bike ride away), and the average rural American lives 3 miles from a retail location (a short drive away).
The Retail Expansion Network team is made up of management, investors and advisors with years of experience building successful businesses, including previous entrepreneurial companies in payment security and authorizations, consumer retailing, prepaid products, and software.
The REN management team is led by Michael Marubio (CEO), Mike McGuinness (VP, Payment Solutions), Steve Downs (VP, CFO), and Robert Williams (VP, Retail Distribution). Each member of the team is a successful entrepreneur who has led and managed companies in the secure authorization and payment industry.
REN is backed by investors who include partners and senior management from Goldman Sachs, Great Oak Capital management, Thomas H. Lee Partners, and RS Investments. REN counts among its advisors senior management and principals from leading e-commerce, finance, and technology corporations such as Visa International, Electronic Arts, SiVault, Gap, and Oracle.
REN’s partners have given the company the ability to create the nation’s first coast-to-coast cash load network and universal settlement system for e-commerce. Partners, suppliers and infrastructure providers include Western Union, Card Express, First Bank of Delaware, and MasterCard International, as well as retailers such as Safeway, Circle K, Kmart, Kroger, Rite Aid, and Pathmark.
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