Utah-based pmtbox has appointed Steven Boal, founder of Coupons.com and CashStar, to its board, adding digital commerce, payments and company-building experience following its $15 million seed financing.
Orem, Utah - October 22, 2026
Orem-based pmtbox, an enterprise commerce platform combining payments, fraud prevention and transaction data, has appointed Steven Boal to its board of directors. Boal founded Coupons.com, later renamed Quotient Technology, and digital gifting company CashStar, bringing experience building technology businesses for retailers and taking a company public.
The appointment follows pmtbox's $15 million seed round announced in April 2026. Led by Tandem Ventures, the financing included Element Ventures, Cynosure Investment Partners and Pluralsight founder and CEO Aaron Skonnard. The company described the round as Utah's largest reported seed financing in the preceding decade.
Boal joins Tandem Ventures founding partner Alex Bean and pmtbox founder Wayne Hamilton on the board. Bean and Hamilton joined when the company announced its financing.
Bringing digital commerce experience to payments and fraud
Boal founded Coupons.com in 1998 and helped build the business into Quotient Technology, which went public on the New York Stock Exchange in 2014. He also founded and chaired CashStar, a digital gifting platform acquired by Blackhawk Network in 2017.
Both businesses operated in areas where transaction integrity and trust were essential. Coupons.com developed digital coupon technology that brands and retailers could use to distribute promotions, while CashStar enabled retailers to sell and manage digital gift cards.
At CashStar, pmtbox co-founder and CTO Pete Kledaras developed payments and fraud-management technology. The company built a platform that served as merchant of record for digital transactions on behalf of hundreds of retailers, according to pmtbox.
Kledaras said his experience working with Boal at CashStar informed his view of what Boal could bring to pmtbox.
“I was in Maine building CashStar’s payments infrastructure while Steven chaired the company from Mountain View, so I’ve seen how he operates when real money is on the line,” Kledaras said.
Kledaras said merchants often treat fraud and chargebacks as unavoidable expenses rather than problems that can be addressed through better technology and operational decisions. He said Boal's experience would be valuable as pmtbox expands its enterprise business.
Addressing the full cost of payments
pmtbox is built around the premise that merchants can gain better visibility and control by consolidating payments processing, fraud management, dispute handling and transaction data rather than managing separate vendors and systems.
The distinction matters because the cost of accepting a payment extends beyond the processing fee. Merchants can also incur losses from fraudulent transactions, chargeback fees, the cost of handling disputes and legitimate purchases that fail during checkout.
Separating these functions across multiple providers can make it difficult to evaluate their combined financial impact or determine where a transaction is being lost. pmtbox aims to bring those functions together so merchants can assess payment performance and risk within a more unified system.
“Most merchants treat payments as a rate they negotiate once, and then they add up what they lose to fraud, chargebacks and disputes and find the real cost is far higher,” Boal said. “They often don’t even realize how conversions are impacted.”
Boal said he was interested in pmtbox because Hamilton and Kledaras had approached the problem from the perspective of operators who had worked directly with payments infrastructure.
The board appointment adds an executive with experience in digital commerce and merchant technology as pmtbox develops its platform following the seed financing. The company's challenge will be to demonstrate that combining these functions can deliver measurable improvements in merchants' costs, fraud losses and payment approval rates.
Beyond commerce technology
Boal is also CEO and board chair of Matia Mobility, a Salt Lake City-based company that develops mobility technology, including the Tek RMD M1, a robotic mobility device designed to help people with mobility impairments sit, stand and move at eye level.
Earlier in his career, Boal held technology and financial-market roles, including vice president and head of global emerging-markets derivative technology at J.P. Morgan. He holds a bachelor's degree from the State University of New York at Albany and has lectured at Stanford Graduate School of Business.
For pmtbox, his appointment brings experience spanning digital promotions, retail gifting, payments and company building to a board overseeing the next stage of the company's development.
About pmtbox
pmtbox is an Orem-based enterprise commerce platform that combines payments, fraud prevention, dispute management and transaction data. The company aims to help merchants improve visibility into payment performance and manage the financial impact of fraud, chargebacks and failed transactions.
Learn more at pmtbox.com.