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PayNearMe launches mobile bill payment center for unbanked consumers

PayNearMe said this domestic bill payment service is the first in a line of affordable financial services that the company plans to offer cash-preferring U.S. consumers.

PayNearMe, a financial services technology company, has partnered with 7-Eleven to introduce the PayNearMe bill pay app, enabling U.S. consumers to pay over 17,000 national and local billers with cash via a barcode scan at participating 7-Eleven stores, according to a press release. 

PayNearMe said this domestic bill payment service is the first in a line of affordable financial services that the company plans to offer to cash-preferring U.S. consumers, and extends the reach of PayNearMe's existing cash merchant processing offering for businesses, according to the announcement.

The PayNearMe bill pay app serves as a full-service bill payment center, enabling cash users to keep track of payment history, set reminders, and securely pay their bills in under 60 seconds with one trip to their local 7-Eleven store, according to the announcement. 

The wide range of billers that are payable include cable companies, utilities and insurance companies, as well as PayNearMe's existing merchants such as Greyhound bus, and Indego, the city of Philadelphia's bike share program. 

"This PayNearMe Bill Pay app is just the beginning," said Danny Shader, PayNearMe founder and CEO. "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."