Electronic cash payment network PayNearMe has acquired consumer financial management app Prism Money, which enables users to track and pay their bills and balances.
The acquisition will enable PayNearMe to offer businesses and financial institutions in-app bill presentment and the ability for consumers to make bill payments via ACH or credit/debit/prepaid cards.
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PayNearMe founder and CEO Danny Shader said: "Adding Prism’s powerful bill presentment, bill management and ACH/card payment capabilities enables us to offer a menu of bill presentment and payment capabilities that financial services providers can use to enhance their customer experiences.
"We look forward to working with Prism’s talented, customer-focused team to continue improving the Prism Money app for its users as we grow the PayNearMe platform of offerings for businesses, government agencies, and financial institutions."
PayNearMe also announced that Visa will offer new suite of customizable bill presentment and payment processing capabilities to its enterprise customers, including Visa prepaid consumer reloadable card programs.
Visa vice president of prepaid product Tony Chang said: "Visa prepaid card providers can now easily integrate bill presentment and same-day bill payment into their existing apps, making it easier than ever for Visa prepaid cardholders to pay bills immediately when they receive wages onto their prepaid cards. PayNearMe will provide new functionality for Visa prepaid cardholders, giving them access to new features that will save them time."
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By GlobalDataPayNearMe added that it will continue to offer businesses and government agency partners such as Greyhound bus and California Department of Child Support Services the ability to collect cash payments at nearly 17,000 participating 7-Eleven, Family Dollar and ACE Cash Express stores in the US, and will soon announce new retail partnerships.
