News

PayNearMe marks 10 years, 5K clients

May 24, 2019

PayNearMe, a platform that facilitates cash, debit, credit and ACH payments, is celebrating two milestones — the company's 10th anniversary and its acquisition within that period of 5,000 clients across multiple market segments.

PayNearMe was founded in 2009 to enable underserved consumers to make cash bill payments to businesses and government agencies through neighborhood retail locations. 

According to a press release, the company added the ability to process electronic payments — including debit, credit and ACH — in 2018, and later added built-in features that include SMS and email messaging and mobile wallet integration.

"We originally built PayNearMe to solve a big problem — the difficulty and expense of paying bills with cash through traditional walk-up networks," CEO Danny Shader said in the release. "We created the only cash processing platform that operates in real time, 24/7, at local, convenient, safe and trusted national retailers. As we celebrate our 10th year, we are proud to offer a complete platform that ensures our clients can accept every payment, every time." 

Today, the company's retail network includes more than 27,000 storefronts nationwide, including participating 7-Eleven locations.

"As the first retail outlet to accept PayNearMe cash payments for online purchases, 7-Eleven has seen customer acceptance, number of transactions, and our business relationship grow significantly over the last 10 years," 7-Eleven President and CEO Joe DePinto said. "PayNearMe's reliable and flexible payment platform is another way 7-Eleven continues to give customers what they want, when and where they want it —whether they want to conveniently pay bills with cash, make online purchases, buy a bus ticket or even pay taxes."