Financial Economist Myron Scholes Joins Mobile Wallet Kuapay as Chairman of Advisory Board

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Scholes is the 1997 recipient of the Nobel Memorial Prize in Economic Sciences and co-author of the Black-Scholes model, which is used to value derivative instruments containing option components

Kuapay (, the secure mobile wallet that aims to enhance the transaction experience among consumers, merchants, and banks, announced the addition of the famed financial economist Myron Scholes to its advisory board where he will serve as chairman. Scholes is a Nobel Laureate in Economic Sciences, and co-originator of the Black-Scholes options pricing model.

Scholes brings more than 40 years of extensive experience in finance and economics to Kuapay. He has lectured and written extensively on financial intermediation, including the evolution of transacting, and has been involved in developing transacting and accounting businesses.

“Kuapay possesses a unique and attractive combination of international market strategy, innovative security architecture, and a vision as to the future direction of mobile payments using the smart phone, which immediately drew me to the company,” said Scholes. “I see massive potential for Kuapay to be a dominant player in the mobile payments market, which is very much still in its infancy. I look forward to continue to advise this company on its journey to success.”

“We are extremely honored to have Myron Scholes’s wealth of experience across economics, finance and business, along with the benefit of his esteemed status within the international community, lead our advisory board,” said Joaquín Ayuso, founder and CEO of Kuapay. “His insights thus far have been invaluable to our global team. We’ve worked tirelessly on our product, and it’s thrilling to see someone of Scholes’ stature take notice.”

Kuapay’s mobile wallet app is available for download on iPhone, Android and Blackberry. To learn more about Kuapay, visit

About Kuapay
Kuapay is a mobile wallet solution that is individualized, fast, and flexible. Founded in 2010 by Joaquín Ayuso, Kuapay helps users consolidate their physical wallet into their smartphone in a convenient, trusted, and secure way. Kuapay is free for users and merchants pay only a low per-transaction fee, with no setup fees or monthly subscription fees. Users can pay with Kuapay throughout Santa Monica, New York City, and San Francisco as well as South America and Spain. Kuapay expects to expand acceptance to numerous additional U.S. locations over the next few months. Kuapay is available to download for iPhone, Android and Blackberry. For more information, visit

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Taryn Langer
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