FEED Becomes Mocapay, Heightens Commitment to Standardizing Mobile Payments

BOULDER, Colo.--(BUSINESS WIRE)--On the heels of a $3.25 million cash infusion from its Series A round of funding, FEED, a Boulder, Colo.-based mobile payment company, has changed its name to Mocapay and appointed a new executive team. The name change, along with the addition of a powerhouse executive team, represents Mocapay’s commitment to becoming the standardized mobile payment platform.

“With this talented and acclaimed group of individuals, Mocapay is poised to launch our standardized mobile payment technology to the national marketplace by the summer of 2008”

The new name, Mocapay, is indicative of the cutting edge service the business provides – Mobile Cash Payments. Mocapay allows consumers to pay for a range of goods and services via mobile phone and represents the company’s transition from a payment option for food services only, to a mobile payment solution for every available retail channel.

“We’re excited to bring Mocapay to our customers,” said Andrew Schneidkraut, owner of Albums on the Hill, a Boulder-based CD and record store. “Mocapay’s transactional costs are a fraction of what I pay with traditional credit card companies. We can also send our customers special offers to their mobile phone – these combined features are in step with what I need and what my customers want.”

Mocapay’s new executive team joins founder and CEO Rod Stambaugh. His18 years of payment industry experience serves as the driving force behind Mocapay’s unique offering. Joining Stambaugh and the team at Mocapay are Michael Ferkiss as VP of business development, Lance Gentry as CMO, JK Hullett as CFO, Doug Hurst as senior product manager, and Dean Rizutto as CTO. Together, the group brings more than 75 years of combined experience building brands like XOR, IZZE, Ericsson, Motorola, @LastSoftware, Merchant-Link, Inc., Pay By Touch, and IP Commerce.

“With this talented and acclaimed group of individuals, Mocapay is poised to launch our standardized mobile payment technology to the national marketplace by the summer of 2008,” said Stambaugh. “This team, together with strategic tier-one retail and financial industry partners, intends to forever transform the payment industry and we’re proud to start it right here in Boulder.”

About Mocapay

Mocapay is a mobile payment and marketing company that lets consumers pay for goods and services at the register and online with their mobile phones. Mocapay simplifies the payment process, providing total transaction security. Mocapay saves merchants money vs. credit card transaction fees, while providing consumers with unprecedented value via real-time promotions from their favorite retailers. Based in Boulder, Colorado, Mocapay operates with any of the 230 million mobile phones in the United States. For more information, visit www.mocapay.com.

Mocapay News Clip Link: http://youtube.com/watch?v=4VLZb47xuls