Tag Archives: award


OFAC Compliance and Why It’s Important

Who is OFAC? The Office of Foreign Assets Control (OFAC) is a division of the U.S Department of the Treasury that supports U.S foreign policy by enforcing sanctions against countries and groups. Entities under U.S sanctions include foreign governments, narcotics traffickers, money laundering culprits and organizations involved in terrorism or the proliferation of weapons of … Read More

Paymerang CARES Distributes Over $35.6 Million in Refunds to Students

“Issuing CARES Act payments to students via Paymerang was a no-brainer when it came to convenience, lower costs, and quality customer service.” -Controller, Goshen College To help our higher education institution clients, Paymerang has provided resources to support the government funded CARES Act. Through our Paymerang CARES program, launched in April 2020, we were able to help our … Read More

Paymerang Named to RTD’s Top Workplaces 2021

Paymerang is honored to be named a Top Workplace in Richmond for 2021.   “We’re humbled by this recognition and take great pride in our company culture and especially in our team members,” said Nasser Chanda, CEO of Paymerang. “Our rapid growth and success within the past year is attributed to the dedication of each of our … Read More

Magnolia Regional Health Center Raves about Paymerang Efficiency

Prelude Software, a leading provider of payment management technology, has partnered with Paymerang, an award-winning accounts payable automation solution. This partnership solution allows hospitals to send their payments directly from their MEDITECH Accounts Payable, through Prelude’s PayPilot solution to Paymerang for payment processing with one click. The Prelude PayPilot Processing Module, in connection with Paymerang’s solution, is now available to … Read More

Paymerang Celebrates Employee Appreciation Week

At Paymerang, our incredible employees are the backbone of our operations and the drivers of our tremendous growth. To celebrate all our teammates for their integrity, grit, passion and positivity, we hosted a week-long Employee Appreciation event!  Each day we held a different event to show our appreciation for our teammates, culminating in an end-of-week … Read More

Paymerang Certified as an Active RVA Workplace

We are excited to announce that Paymerang has been recognized as an Active RVA Workplace for the second year in a row! The Active Workplace Certification from Sports Backers recognizes organizations in the Richmond region that support their employees to maximize their health and wellness through regular physical activity. 2020 was a challenging year but … Read More

Paymerang Earns #1 Ranking as Top Workplace in Richmond

Results based on employee engagement & workplace culture Paymerang is proud to be named a Top Workplace in Richmond and earn a coveted top ranking among this year’s Top Workplace companies. We were ranked #1 in the small company size category of the annual Top Workplaces rankings conducted by the Richmond Times-Dispatch in partnership with … Read More

Paymerang Makes Inc. Magazine’s Top 5000 Fastest-Growing Companies in the U.S

Inc. magazine announced that Paymerang is on its annual Inc. 5000 list, the most prestigious ranking of the nation’s fastest-growing private companies. The list represents a unique look at the most successful companies within the American economy’s most dynamic segment—its independent small businesses. Paymerang CEO, Nasser Chanda, responded to the award announcement by stating, “Paymerang … Read More

Paymerang: #1 Best Tech Startup in RVA Two Years in a Row

Paymerang is honored to be named the #1 Best Tech Startup in Richmond, VA for the second year in a row! This award, from the The Tech Tribune, is further recognition of the amazing Paymerang team that continually delivers fantastic products and amazing customer experience. 2019 was a monumental year for Paymerang. We significantly grew … Read More

Paymerang Named Top Performer in Featured Customers’ Accounts Payable Software Report

FeaturedCustomers is the world’s leading customer reference platform for B2B business software & services. Their platform gives B2B prospects a neutral 3rd party resource to research and discover B2B business solutions through a safe & trusted environment with the help of over 736,215 real customer references—including customer testimonials, case studies, success stories, customer stories, and … Read More

OFAC Compliance and Why It’s Important

Who is OFAC?

The Office of Foreign Assets Control (OFAC) is a division of the U.S Department of the Treasury that supports U.S foreign policy by enforcing sanctions against countries and groups. Entities under U.S sanctions include foreign governments, narcotics traffickers, money laundering culprits and organizations involved in terrorism or the proliferation of weapons of mass destruction.  

Importance of OFAC Compliance

Many companies underestimate how serious the consequences of having an OFAC violation can be. Organizations not complying with OFAC-administered sanctions are liable for significant penalties, even if their action was unintentional or uninformed. The importance of reducing the likelihood of payments being sent to individuals or organizations determined to be threats to US national interests is paramount.

Penalties can include: 

  • Civil penalties: $250,000 or twice the amount of each underlying transaction up to $1,075,000 per violation.
  • Criminal penalties: $50,000 or $10,000,000 fine; 10-30 years in prison
  • Publication of penalty: OFAC publishes the names of companies that have been penalized

See below for drastic increase in entities on the OFAC list since 1994.

Photo by: Enigma

How to Mitigate Risk of OFAC Violations

Screening customers, clients, and vendors should be a key element of any compliance program. Using an ePayments or Finance Automation company for Accounts Payable payments is the best way to effectively protect your company against doing business with vendors on the government’s Do Not Pay list and avoid the penalties.

Our solutions at Paymerang have built in compliance enhancing functions, such as centralized record-keeping for audit purposes, that are critical to being able to demonstrate OFAC compliance. A common short falling of many organizations is not updating the Do Not Pay list, which you can see below is growing exponentially. 


Photo by: Gibson Dunn

Is Your Business OFAC Compliant?

Take some time to assess your compliance program. Does it include OFAC? Are you screening adequately? Does your training include sanctions programs and compliance? 

Paymerang is well-equipped to assist your company in establishing a comprehensive compliance program or improving an existing one. We can also assist with training and auditing. Contact us for a free demo.


Paymerang CARES Distributes Over $35.6 Million in Refunds to Students

“Issuing CARES Act payments to students via Paymerang was a no-brainer when it came to convenience, lower costs, and quality customer service.” -Controller, Goshen College

To help our higher education institution clients, Paymerang has provided resources to support the government funded CARES Act. Through our Paymerang CARES program, launched in April 2020, we were able to help our higher education clients quickly disburse CARES Act payments to students. Our higher education clients were able to send simple, digital CARES Act payments to students with zero disruptions to their existing processes. Most importantly, these payments were sent electronically and delivered directly to students. 

29,000 students nationwide were able to receive their funds more quickly and more securely

To send the secure eChecks faster and more securely, all our higher education clients had to do was upload their CSV file, fund the payments, and mark the items as paid. This simple and straightforward process allowed us to provide our clients with a quick resolution to distributing their funds.

Paymerang CARES payments were sent directly to student email addresses to ensure direct delivery to students. Once students received the funds, they had multiple deposit options: print from home and deposit personally or using mobile deposit, direct deposit via ACH (eDeposit), or deposit to a Visa debit card. The past year has been filled with uncertainty, especially for students with postponing graduation, missing milestones, and having to adapt to attending classes remotely; Paymerang wanted to ensure full transparency and security regarding students’ finances in the midst of the unknown.

88% of all payments were distributed electronically

We were proud to offer this program to our clients and help alleviate some of the unforeseen circumstances caused by the pandemic.

You can click here to learn more about Paymerang CARES.

Paymerang Named to RTD’s Top Workplaces 2021

Paymerang is honored to be named a Top Workplace in Richmond for 2021.  

“We’re humbled by this recognition and take great pride in our company culture and especially in our team members,” said Nasser Chanda, CEO of Paymerang. “Our rapid growth and success within the past year is attributed to the dedication of each of our employees. As our organization continues to scale, we continually revisit our core values and act on feedback to provide the best experience to our employees and clients.”

Chanda expressed pride in the team’s focus on positivity and exceptional customer service during the unprecedented times caused by the pandemic. “We’ve kept innovation and spirits high while continuing to deliver value and security for our customers and their vendors,” he said. 

Paymerang is also deeply invested in fostering an environment of inclusion and growth for team members. “This year, we’ve invested in training and developing our emerging leaders as well as building bench-strength in all areas of the company,” Chanda added. “Our goal is to cultivate an environment of continuous learning, where team members can discover their strengths, master new skills, and grow within the company.”

The recognition is based on results from the eighth annual Top Workplaces program conducted by the Richmond Times-Dispatch and Energage, a Pennsylvania-based employee research firm. The program surveys employees about workplace culture, values and leadership, among other criteria.  

 Paymerang is one of 26 organizations in the Midsize category (125 to 399 employees). Last year, Paymerang ranked #1 in the Small size category.

Magnolia Regional Health Center Raves about Paymerang Efficiency

Prelude Software, a leading provider of payment management technology, has partnered with Paymerang, an award-winning accounts payable automation solution.

This partnership solution allows hospitals to send their payments directly from their MEDITECH Accounts Payable, through Prelude’s PayPilot solution to Paymerang for payment processing with one click.

The Prelude PayPilot Processing Module, in connection with Paymerang’s solution, is now available to customers within MEDITECH’S customer base, which consists of thousands of hospitals across the United States. 

“This partnership solution connects directly to our MEDITECH Accounts Payable, so we have one click that sends the payments through Prelude’s PayPilot solution directly to Paymerang and they handle the rest,” said Haven Caldwell, Controller, Magnolia Regional Health Center. “This has been a game-changer for us.” 

The process is now easy and seamless for healthcare organizations, and they can experience the time and material savings benefits of Paymerang through this partnership.

Paymerang’s partnership with Prelude Software is designed to reduce both the hours and the materials required to process payments by helping hospitals automate their entire accounts payable process – saving hospitals time, resources and money. 

Christian Albarracin, Executive Director of Finance at Magnolia Regional Health Center  applauded the solution, “Having more time to focus on our strategic goals and achieving our mission of improving the health of the communities we serve, one patient at a time, is invaluable.”

Prelude’s PayPilot makes it easy for MEDITECH Expanse Hospital clients to use Paymerang for its disbursement. This comprehensive solution allows hospitals to pay their vendors faster and more efficiently.

Interested in learning more? Schedule a call now.

Paymerang Celebrates Employee Appreciation Week

At Paymerang, our incredible employees are the backbone of our operations and the drivers of our tremendous growth. To celebrate all our teammates for their integrity, grit, passion and positivity, we hosted a week-long Employee Appreciation event! 

Each day we held a different event to show our appreciation for our teammates, culminating in an end-of-week Employee Appreciation Awards!

Read on to find out how we celebrated!

Monday- We kicked off our Employee Appreciation Week with an ‘Extra’-ordinary treat!

Tuesday- As a way of showing our appreciation for our teammates, we’ve arranged for Extremes Mobile Services to stop by the office to give our vehicles some TLC!

Wednesday- We continued Employee Appreciation Week with some kettle corn to thank our teammates for making Paymerang a sweet place to work!

Thursday- We celebrated our Spec-tacular teammates by giving out Paymerang blue light blocking glasses!

Friday- We concluded Employee Appreciation Week with a Virtual Awards Ceremony! We voted on our teammates that exemplify each of our values and gave out some fun awards too! 

Here at Paymerang we want the best for our employees. We believe our employees will accomplish amazing things when given the opportunity to learn and grow. We value our employees and want them to be successful both in the office and in their personal lives.

Employee events like this are just one of the reasons Paymerang has been named a Top Workplace in Richmond for the past two years! 

Nasser Chanda, CEO of Paymerang, said “We are very honored to receive this award and owe it to our talented team members. They embody our culture and values in their daily interactions with colleagues and clients. Paymerang is a Top Workplace because of them, and I’m so proud to work alongside such an exceptional team.”

Thank you to everyone on Team Paymerang for all you do to make Paymerang an award-winning company!

To learn more about our company values and to see current job openings, check out our careers page

Paymerang Certified as an Active RVA Workplace

We are excited to announce that Paymerang has been recognized as an Active RVA Workplace for the second year in a row!

The Active Workplace Certification from Sports Backers recognizes organizations in the Richmond region that support their employees to maximize their health and wellness through regular physical activity. 2020 was a challenging year but many organizations, including Paymerang, were able to pivot and continue to support and promote physical activity to their employees.

We’re so proud of our team for adopting, supporting, and engaging in our wellness initiatives that are infused into our daily operations. We’ve seen workplace wellness programs enhance our company culture, boost creativity and increase productivity and job satisfaction.

We implemented some of Sports Backers’ recommended best practices and have seen an incredible amount of participation from our team.

At Paymerang, we have a designated walking break every day called Walking for Wellness. We participate in walk/run events like the Anthem Corporate Run and the American Cancer Society’s Making Strides Against Breast Cancer Walk. Not to mention a team favorite…the unlimited healthy snacks! We have a wide variety of wellness opportunities that fit a variety of age ranges and physical fitness levels.

This year, we’ve started monthly team fitness challenges with a different exercise every month- we’ve already checked planks and wall sits off the list! In February 2021, we also hosted a virtual Lunch and Learn with a Registered Dietician to speak on healthy eating to help reduce stress.

Our values drive our culture and we’re grateful to our employees who exemplify our values of passion, positivity and teamwork every day. We look forward to continuing to work with Sports Backers and provide physical activity opportunities for our teammates throughout the year and beyond!

To learn more about our company values and to see current job openings, check out our careers page!

Follow Paymerang on Instagram to see the behind-the-scenes of our Active RVA Certified Workplace!

Paymerang Earns #1 Ranking as Top Workplace in Richmond

Results based on employee engagement & workplace culture

Paymerang is proud to be named a Top Workplace in Richmond and earn a coveted top ranking among this year’s Top Workplace companies. We were ranked #1 in the small company size category of the annual Top Workplaces rankings conducted by the Richmond Times-Dispatch in partnership with Energage, a Philadelphia-based employee research firm.

The rankings were based on the results of an employee engagement survey containing 24 questions about the nominee’s workplace culture, values and leadership, among other criteria. Employers that scored high enough were recognized as Top Wokplaces. Companies were categorized by size (Mega, Large, Midsize, Small) and ranked within their size group to accurately compare results.

“We are very honored to receive this award and owe it to our talented team members,” said Nasser Chanda, CEO of Paymerang, noting that the company had claimed the #2 spot in 2019. “They embody our culture and values in their daily interactions with colleagues and clients. Paymerang is a Top Workplace because of them, and I’m so proud to work alongside such an exceptional team.”   

As a leader in the FinTech industry, Paymerang provides innovative ePayment services that improve efficiencies with accounts payable processes through electronic payments that save time, resources, and money for clients throughout the United States.

For more information, contact our team today sales@paymerang.com  

Paymerang Makes Inc. Magazine’s Top 5000 Fastest-Growing Companies in the U.S

Inc. magazine announced that Paymerang is on its annual Inc. 5000 list, the most prestigious ranking of the nation’s fastest-growing private companies. The list represents a unique look at the most successful companies within the American economy’s most dynamic segment—its independent small businesses.

Paymerang CEO, Nasser Chanda, responded to the award announcement by stating, “Paymerang is honored to join the ranks of the fastest-growing companies in America. We are firmly rooted in our mission of delivering finance automation for the modern enterprise, and look forward to many more years of rapid growth ahead!”

Complete results of the Inc. 5000, including company profiles and an interactive database, can be found at www.inc.com/inc5000.

The 2020 Inc. 5000 is ranked according to percentage revenue growth when comparing 2016 and 2019. To qualify, companies must have been founded and generating revenue by March 31, 2016. They had to be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2019.

Follow Paymerang on LinkedIn, Twitter, Facebook and Instagram to stay up to date on the latest Paymerang news and get a behind the scenes look at the people that drive our company’s growth!

Paymerang: #1 Best Tech Startup in RVA Two Years in a Row

Paymerang is honored to be named the #1 Best Tech Startup in Richmond, VA for the second year in a row! This award, from the The Tech Tribune, is further recognition of the amazing Paymerang team that continually delivers fantastic products and amazing customer experience.

2019 was a monumental year for Paymerang. We significantly grew our employee base, expanded our office space, acquired a company, and continued to develop our coast-to-coast client base.

Founded in 2017, The Tech Tribune delivers the latest technology news, in-depth technology articles, exclusive interviews with entrepreneurs, and insights on the hottest technology startups all over the world. In partnership with Crunchbase, the Best Tech Startupsseries is published for every major city and state in the US, and for the US as a whole, every year. Their mission is to recognize and honor the most exemplary young companies all across the country.

In doing research for this award, they consider several factors including but not limited to:

  1. Revenue potential
  2. Leadership team
  3. Brand/product traction
  4. Competitive landscape

Additionally, all companies must be independent (un-acquired), privately owned, at most 10 years old, and have received at least one round of funding in order to qualify.

We are in unprecedented times, and Paymerang is humbled by the opportunity to continue to provide our clients with cutting-edge technology and meaningful solutions to their ever-changing work environment and business payments needs.

Paymerang Named Top Performer in Featured Customers’ Accounts Payable Software Report

FeaturedCustomers is the world’s leading customer reference platform for B2B business software & services. Their platform gives B2B prospects a neutral 3rd party resource to research and discover B2B business solutions through a safe & trusted environment with the help of over 736,215 real customer references—including customer testimonials, case studies, success stories, customer stories, and customer videos.

Their 2020 Winter Customer Success Report named Paymerang a Top Performer in the Accounts Payable software category.

One of our core values at Paymerang is customer focus. Our clients are at the root of everything we do. We pride ourselves on delivering fantastic products and amazing customer experiences, and we’re constantly working to improve our solution and products to meet the needs of our clients. We simplify complex problems and make business payments easy. After implementing our solution, clients can refocus efforts away from payment processing and reconciliation to more strategic initiatives like operational efficiency and financial controls.

Our team of payment and enrollment specialists are an extension of our client’s accounts payable department. We’re constantly working to deliver a frictionless experience for our clients and vendors. Most importantly, should an issue or question arise – our team is there to jump in and offer a resolution.

We are proud to be named a Top Performer in Accounts Payable and we’ll continue to provide world-class customer care to our clients as we continue to grow and increase our product base.

Click here to view the entire 2020 Accounts Payable Software Report.