SUNNYVALE, Calif., Dec. 6, 2018 /PRNewswire/ -- PayNearMe's electronic payment platform, which adds support for ACH and card payments to the company's historical cash collection capability, is growing quickly and generating extremely positive customer reviews. The company's electronic payment volume grew by more than 25 percent month-over-month in the past year, and expectations are to exceed that growth rate through 2020. PayNearMe's technology-first approach lets businesses get paid faster than alternatives, and provides a great mobile experience to consumers who prefer to make payments with their devices.
PayNearMe is delighting both businesses and their customers. "We are incredibly excited to have added PayNearMe's new electronic payment functionality to promote consumer self-service payments. Our overall payment volumes have reached an all-time high since we launched PayNearMe electronic payments," said Mike Meltser, CEO of Capital Auto Financial.
Servicing Solutions appreciates PayNearMe's ease-of-use and expansive retail network. "PayNearMe fits the model built by Servicing Solutions to provide ease of payment to all our customers," said Sean Bennett, Director of Business Technology. "This ranges from the underbanked and those who prefer to make their payments in cash via PayNearMe's 27,000+ retail locations, to self-servicing customers who prefer to pay with their mobile device using ACH, debit, or credit."
PayNearMe's expanded electronic payment options provide a frictionless way for consumers to pay their bills anytime, anywhere, and any way they want to pay. Over the past three months, more than 25 lenders and agencies nationwide have adopted PayNearMe electronic payments. "We're seeing rapid adoption because we designed our technology to enable great customer experiences," said Mike Kaplan, SVP at PayNearMe. "Technology is in our DNA. We pledge continued innovation in product and processes to help our customers get paid faster."
"Thank you for introducing us to your debit card product!" said Fred Ulloa, Collection Manager at MAS Financial. "With the launch of PayNearMe electronic payments, we can give our customers multiple ways to pay with an outstanding mobile user experience. Along with this, we can send SMS and email payment reminders, which means we get more on-time payments."
Unlike legacy systems, PayNearMe provides a great mobile payment experience through an intuitive, consistent three-step process. With PayNearMe's single platform, businesses can accept debit, credit and ACH payments in addition to cash.
"What stands out with PayNearMe's service is the real-time posting, reporting and superior customer service," said Dawn Baker, VP at Time Finance Company. "Our customers are happy since they now have the convenience of paying with debit card in addition to cash and can easily make repeat monthly payments without our having to call them."
PayNearMe is the industry's only platform that facilitates cash, debit, credit and ACH payments. Our mobile-first technology provides the simplest way for businesses to collect all of their payments through an intuitive, consistent experience for their customers.
PayNearMe processes payments for thousands of businesses and government agencies including the State of California, Comcast, Greyhound, Oportun, Grameen Foundation, Santander, and Capital Auto Financial, among others. PayNearMe has powered cash payments for consumers since 2009, and today is accepted at over 27,000 retail locations in the U.S. including 7-Eleven®, Family Dollar®, Casey's General Stores® and ACE Cash Express® stores.
The PayNearMe service is operated by PayNearMe MT, Inc., a licensed money transmitter.
© 2018 Handle Financial, Inc. All rights reserved. Handle Financial and PayNearMe are trademarks or registered trademarks of Handle Financial.
Krithika Rajaraman, IDPR for PayNearMe