PayNearMe Inc. is launching a reusable payment card option for consumers who prefer to use cash to pay for online purchases, loan payments and utility bills, the Mountain View, Calif.-based company announced on Nov. 16.
The company already offers consumers the option to pay with cash at local 7-Eleven convenience stores using a printed paper slip (
The card option, which does the same task as the paper slip, is designed for consumers unable to print the slips and who are not interested in printing a new slip for each payment, Danny Shader, PayNearMe founder and CEO, tells PaymentsSource.
With the card option, consumers select PayNearMe when making an online purchase or paying a bill, and they enter their mobile phone number, Shader says.
PayNearMe then sends them a text message instructing them to pick up a free plastic card at their local 7-Eleven store. To activate the card, consumers text the number on the card to PayNearMe, Shader explains.
To complete the payment, consumers take the card to the 7-Eleven sales clerk, who scans the card to determine how much the payer owes. The consumer then gives the clerk the cash, which completes the online payment. Consumers may keep the card to reuse for another payment, Shader says.
