Financial Inclusion

PayNearMe’s Cash-Based Mobile Bill Pay Debuts At 7-Eleven

Financial services technology company PayNearMe is partnering with 7-Eleven to bring a new domestic bill payment service to consumers across the U.S.

The company announced yesterday (Sept. 22) that its PayNearMe Bill Pay app will allow consumers to use a barcode scan at participating 7-Eleven stores to pay more than 17,000 national and local billers with cash.

“Cash users are largely neglected in today’s bank-based digital economy. By building a suite of easy-to-use financial services that are also easy for retailers to provide to their customers, we will make it possible for everyone to benefit from the convenience of digital transactions,” PayNearMe Founder and CEO Danny Shader said in a company release.

“This PayNearMe Bill Pay app is just the beginning.”

The line of financial services PayNearMe plans to launch for cash-preferring consumers is expected to expand the company’s cash merchant offerings for businesses.

[bctt tweet=”‘Cash users are largely neglected in today’s bank-based digital economy.’”]

According to the company, the PayNearMe Bill Pay app will function as a full-service bill payment center, providing customers the ability to monitor payment history, set reminders and pay bills in less than 60 seconds.

The list of acceptable billers will include PayNearMe’s existing merchants, as well as a wide range of cable companies, utilities providers and insurance firms.

As the first retailer to partner with PayNearMe on this initiative, 7-Eleven is offering a co-branded app called 7-Eleven Bill Pay Operated by PayNearMe, which will provide the same features and functionality but will be promoted exclusively to 7-Eleven customers.

“7-Eleven Bill Pay app builds on 7-Eleven’s portfolio of products and services that are affordable and convenient for financially underserved customers,” said Raja Doddala, 7-Eleven’s vice president of innovation and omnichannel strategy.

“This app is one in a series of innovations that will take 7-Eleven stores from being convenience stores to ‘convenient’ stores.”

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