PayNearMe Enables Cash Payments in CNP Transactions

Sept 23, 2010

PayNearMe announced the launch of its new payment option that enables unbanked consumers or those who prefer to use cash, the ability to conduct a wide range of CNP payments. The company said consumers can use PayNearMe for e-commerce purchases, telephone orders, loan repayments or to load funds into e-wallets. After choosing the PayNearMe option when making a purchase, consumers can complete the transaction by paying cash at a local retail store. Initially, PayNearMe payments will be accepted at more than 6,000 7-Eleven stores throughout the U.S. “PayNearMe enables almost any business—e-commerce merchants, catalogers, lenders, collection agencies, and more—to provide a simpler, faster, and often far less expensive payment mechanism to their consumers,” said Danny Shader, PayNearMe’s CEO. “We designed PayNearMe to improve the customer experience for those who prefer to pay with cash so that businesses who serve them can grow their top and bottom lines more quickly.” The company said that, Facebook, Progreso Financiero, MOL AccessPortal (MOL), m-Via, Lexicon Marketing, LLC, Adknowledge’s Super Rewards, Money to Go and SteelSeries will be among the first merchants to offer PayNearMe as an option to pay for goods and services with cash at 7-Eleven stores.