PreCash Inc., which allows the underbanked to make electronic bill payments and other transactions in cash, says it now allows payments to more than 10,000 billers.
The expanded service allows retailers to allow their walk-in customers to use cash to fund electronic payments to the new list of billers.
"Underbanked consumers, or people without bank accounts and credit cards, go to [money service businesses], grocers, convenience stores and other retailers to pay bills, buy calling cards, or to add minutes to mobile phones," said Steve Taylor, CEO of PreCash, in a press release. "With the addition of 10,000 billers, our partners can simplify their point of sale by offering all of these services through a single-source payment platform."
The retailer that facilitates the payment collects a convenience fee. Consumers can also make payments through a kiosk or mobile and online applications.
"For PreCash, having an additional 10,000 billers makes our services more attractive to convenience stores, grocers and other retail businesses," Taylor said in the release. PreCash is based in Houston.
