SUNNYVALE, Calif. and CLEARWATER, Fla. – Oct. 27, 2014 – Cash collection at a payment center is traditionally rife with fraud risk from fake bills and the errors of manual processing, while taking time and resources away from serving customers. Bill2Pay, a payment processing solutions provider, is partnering with PayNearMe, the electronic cash payment network, to digitize cash collections. The integration frees up in-office resources and streamlines payment reconciliation for Bill2Pay’s utilities and government customers, while increasing the likelihood of on-time payments by offering consumers another convenient way to pay.
Consumers who wish to pay their bills with cash will be able to do so at their convenience, in their own neighborhoods, at 17,000 participating 7-Eleven, Family Dollar and ACE Cash Express stores in PayNearMe’s nationwide network. Many of the stores are open 24 hours a day, seven days a week. The funds are guaranteed to the business or government agency as soon as they are collected by the cashier.
Features such as payment receipts issued to the consumer, automatic real-time payment notifications and unique barcodes assigned to each transaction offer added peace of mind that the transaction has been processed flawlessly.
“A cash transaction that used to take our customers 15 minutes to process will now take less than one minute because with PayNearMe, everything is digital and automatic,” said David Graham, Bill2Pay’s chief marketing officer. “Offering PayNearMe helps our customers broaden their payment acceptance footprint and eases the burden of having to operate their own offices for collecting payment.”
Through this partnership, Bill2Pay business customers can add PayNearMe to their current payment offerings without changing their existing systems.
To make a cash payment, consumers simply visit the website of the business they would like to pay, where they are prompted to print a PayNearMe code or have it sent to their mobile device. They then go to a nearby store, show the cashier the code and hand them the cash, as if they were purchasing an item in the store. The company being paid instantly receives notification of the payment and the consumer receives a receipt. The whole process takes less than one minute to complete.
“Twenty-eight percent of Americans have little to no access to a bank account, and the fees associated with paying bills without a bank account can add up quickly,” said Tom Melvin, general manager of PayNearMe’s municipalities and utilities business. “Bill2Pay customers who offer PayNearMe as a cash payment option are not only leveraging technology to reduce the risk of fraud and processing error at their walk-up payment offices, they are offering this segment of consumers a more convenient way to pay, with the form of tender they prefer.”
To learn more about using PayNearMe through Bill2Pay, please visit http://www.bill2pay.com/bill-payment-solutions/.
PayNearMe is the electronic cash-transaction network that enables consumers to pay rent and utility bills, repay loans, buy tickets, make online purchases and do much more with cash. Consumers can conveniently make payments on their own schedule and in their own neighborhood in less than a minute at one of over 17,000 trusted locations including 7-Eleven®, Family Dollar® and ACE Cash Express® stores across the United States. For more information, please visit: http://www.PayNearMe.com.
Bill2Pay, a Florida-based company founded in 1991, is a full-service payment processing company providing payment solutions utilizing fully secure, advanced technology. Leveraging more than 20 years of experience, the team at Bill2Pay manages all payment types including cash, checks, ACH and debit/credit card payments. Bill2Pay processes payments across all payment channels: In person (Point of Sale), by mail, by telephone, online via personal computer and mobile smart devices for a variety of industries. As a third-party processor, Bill2Pay maintains PCI Level 1 compliance, as well as continuing external annual SSAE16 Type 2 audits. As a leading provider of payment processing services, Bill2Pay processes millions of payments monthly. The company specializes in complete payment solutions for tax collectors, city and municipal governments, utilities, insurance companies and other corporations. For more information, visit http://www.bill2pay.com or call (727) 524-3511.