#49 - Danny Shader, Founder & CEO at PayNearMe
Slice of Finance Team
06/25/2025
Episode details
Join us on this week's episode of the Slice of Finance podcast, hosted by Jared S. Taylor!
Our Guest: Danny Shader, Founder & CEO at PayNearMe.
What you’ll get out of this episode:
- Redefining Cost in Payments: Shader explains that the true cost of payment isn't just processing fees—it's missed payments and customer service inefficiencies.
- Payment Experience as Brand Identity: For many consumers, paying a bill is their main interaction with a service provider, making it a critical brand moment.
- Combatting Phishing and Friction: PayNearMe’s SmartLink and QR code solutions reduce fraud risks and customer confusion by eliminating the need for data entry.
- Universal Access and Modality Flexibility: By supporting diverse payment methods—Venmo, Apple Pay, ACH, even cash—PayNearMe ensures bills can be paid conveniently.
- Long-Term Savings Through Simplicity: A streamlined payment experience decreases call center traffic, reduces exceptions, and leads to perpetual cost savings.
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Reframing the Cost of Payment Acceptance
Most businesses think of payment processing costs as the key expense in billing. Danny Shader challenges this idea, explaining that the real costs arise when things go wrong—missed payments, bounced transactions, or customers needing support. Each failed interaction can cascade into back-office inefficiencies and costly service calls, turning billing into a hidden financial sinkhole.
Why Payment Experience Matters
As Shader notes, “If you don’t pay in commerce, you don’t get the product. But in billing, the product has already been delivered.” This makes collecting payments not just important, but urgent. A clunky or confusing payment experience can sour customer perception and jeopardize collection. For many billers, especially auto lenders or utilities, this billing experience is the only direct interaction with the consumer.
Eliminating Friction and Fraud Risk
A standout moment in the interview involves a demo of PayNearMe’s SmartLink QR code. Shader emphasizes how this eliminates phishing risks by not requiring any input from the customer. The system already knows the customer and tailors the experience accordingly. This not only reduces fraud but prevents expensive service calls for login help—each potentially costing up to $20.
Flexible Payments for Every Consumer
PayNearMe’s strength lies in supporting multiple payment types—cards, ACH, digital wallets, and even physical cash through its proprietary walk-up network. Shader underscores the importance of letting people pay how they want, when they want, with funds where they are. This ensures fewer dropped payments due to incompatibility or inconvenience.
Scaling with Innovation and AI
Looking ahead, Shader promises more innovations from PayNearMe, especially leveraging AI to further optimize payment journeys. With 17 years of groundwork and a growing client base, the company is poised to tackle deeper inefficiencies within the billing ecosystem.
