PayNet, Inc. History

PayNet, Inc., which founded this industry-first “Payment Information Network” in 1999, is headquartered in Skokie, Illinois. The company began as a data repository to replace the manual telephone call to obtain credit references for equipment lenders, which is a national industry representing more than $600 billion in net assets.

Media / Press Availability

The PayNet President and Co-Founder, William Phelan, is quoted by national media outlets on a regular basis including Reuters, Bloomberg Business News, CNBC, FOX Business News, Business News Network (Canada) and The Wall Street Journal.

Mr. Phelan regularly speaks throughout the nation on the latest trends on the small business economy such as Testimony to the House Committee on Small Business, United States House of Representatives, February, 2011; Equipment Leasing and Finance Association Annual Conferences; Synovus Business Banking C&I Forum; Consortium on Bank Regulation.

PayNet executive management may be available for business analysis, commentary or interviews. Please contact Jamie Born at media@paynetonline.com or 1-847-853-6117 with inquires.

  • When becoming a PayNet member, we were hoping to gain better analytics around portfolio quality. The special projects such as analytics benchmarks help us make better decisions for our company. Additionally, we wanted to use the information in the PayNet database to improve our decision making and underwriting process. This aids in the reduction of the risk associated with bringing on new customers.

    Adam Warner

    President
    Key Equipment Finance

  • PayNet is the commercial lending industry's missing link. PayNet provides comparable term data other data providers do not have. This unique data allows us the confidence to approve deals that otherwise would have been left on the table. This increases our lending volume while mitigating our risk. PayNet provides an unmatched depth of industry intelligence and predictive information to subscribing lenders.

    Dustin Jefferies

    Director of Operational Risk
    Great America Leasing Corporation

  • The main reason we chose to become a PayNet member was to improve underwriting while focusing on the ultimate goal of reducing losses. PayNet's competitive advantage would be their information and ability to give us more information than we had at the time. If you are in a similar business to Stearns Bank, I would recommend PayNet.

    Joe Schluender

    Credit Manager
    Stearns Bank

  • We look to PayNet for industry-wide knowledge due to their database. Their market insight such as monthly delinquency trends gives us a good view of what is going on in the specific industry that we compete in. This knowledge is shared with Volvo senior management as well.

    Nick Jones

    Volvo Financial Services

  • Our PayNet sales representative is always helpful and proactive. The analytical work delivered by PayNet's Analytics Team has been useful to our strategic planning process. Additionally, peer group comparisons have clearly influenced our collections and credit practices.

    Peg Maloney

    SVP Credit Operations
    Key Equipment Finance