PayNearMe Inc. has launched a bill-payment function for its cash payment system that works with bar codes printed on billers’ statements.
The Mountain View, Calif., firm today is expected to announce its Embedded Barcode Remittance product is live with 6,200 7-Eleven Inc. stores.
Consumers can take bills that use this system to 7-Eleven stores to pay those bills using cash at the point of sale.
Danny Shader, PayNearMe’s chief executive, said in a press release that this system “demonstrates yet another innovative way our cash-payment network can be used by various industries for remote collection of cash payments.”
PayNearMe, formerly Tilono Corp., enables consumers to initiate purchases online and complete them using cash at certain retailers. An earlier version of the system, called Kwedit, was developed for e-commerce purchases.
PayNearMe also is expected today to announce a pact with Greyhound Lines Inc. enabling the transportation company to distribute tickets that are printed on participating retailers’ receipts. Consumers would initiate the ticket purchase online and receive the ticket on the receipt after the payment is made in person.
PayNearMe is also announcing a service for topping up mobile phone accounts and one for domestic money transfers.
The transfer service, handled through a deal with Ria Financial Services Inc., a unit of Euronet Worldwide Inc., enables transfers to be initiated through mobile phones or by purchasing a Ria card at 7-Eleven locations.
“By combining our excellent services with 7-Eleven’s very convenient distribution and PayNearMe’s innovative technology, we have created what is probably the easiest and most convenient way to send money or pay bills today in the U.S.,” Michael J. Brown, Euronet’s chairman and CEO, said in a press release.
