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September 23, 2015updated 04 Apr 2017 4:01pm

PayNearMe partners with 7-Eleven to launch bill pay app for underbanked in US

PayNearMe, a financial services technology company, has partnered with convenience store chain 7-Eleven to launch new bill pay app for financially underserved and others who prefer to use cash.

By Verdict Staff

PayNearMe, a financial services technology company, has partnered with convenience store chain 7-Eleven to launch new bill pay app for financially underserved and others who prefer to use cash.

The co-branded app called, 7-Eleven Bill Pay, will allow US consumers to pay more than 17,000 national and local billers with cash using a convenient barcode scan at participating 7-Eleven stores.

The bilingual app will be operated by PayNearMe and marketed exclusively by 7-Eleven to its customers.

The PayNearMe Bill Pay app serves as a full-service bill payment center, allowing cash users to keep track of payment history, set reminders.

Using the app, consumers can pay bills to cable companies, utilities providers and insurance companies.

PayNearMe founder and CEO Danny Shader said: "Cash users are largely neglected in today’s bank-based digital economy. By building a suite of easy-to-use financial services that are also easy for retailers to provide to their customers, we will make it possible for everyone to benefit from the convenience of digital transactions."

PayNearMe has already secured money transmitter licenses in all 48 US states where they are required. The company revealed that it is planning to add more national and regional retailers to its payment location network in the near future.

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