Buy-here, pay-here dealers and other finance companies that leverage PayNearMe now have a wider net to capture customer payments.
PayNearMe, a service of Handle Financial, on Thursday announced the release of a complete mobile-first payment platform, enabling merchants to accept payments from their consumers at any time, anywhere and any way they want to pay. The expanded system provides the ability to accept debit, credit and ACH payments in addition to cash; and features payment reminders and mobile wallet integration.
The PayNearMe system was initially designed to accept cash from underserved consumers for online goods and services at more than 27,000 retail locations nationwide, including 7-Eleven, ACE Cash Express, Casey’s General Stores and Family Dollar. PayNearMe can reduce the expense and operational challenges of accepting cash while providing consumers a fast, easy way to make payments.
These benefits and ease of use are now being extended to include all forms of payment.
With the launch of PayNearMe’s debit, credit and ACH payment capabilities, merchants can now securely accept and manage all types of payments, driving more on-time payments to keep customers current on their vehicle installment contracts.
The mobile-first design offers a simple and intuitive user experience that makes paying faster and more convenient. Consumers can store their payment credentials in their mobile wallets for easy access, and receive timely text reminders when their payments are due.
PayNearMe said competitive solutions require the use of third-party products at additional cost that also can increase complexity for consumers and merchants.
“PayNearMe has consistently delivered innovative yet simple payment solutions to address lenders’ most pressing needs,” said Danny Shader, chief executive officer of Handle Financial and founder of PayNearMe.
“Today, we are introducing the industry’s first complete payment platform, putting cash, debit, credit and ACH all together in one single trusted platform, along with payment reminders and mobile wallet integration,” Shader continued.
“It has never been easier for lenders to process all of their payments while delivering an outstanding mobile-first experience to their customers,” he went on to say.
The company also emphasized PayNearMe’s transparent fee structure eliminates the hidden or confusing fees charged by competitive offerings, and makes bills clear and easy to understand.
“We are incredibly excited to gain the ability to process all forms of payment through our most trusted payment platform,” said Mike Meltser, chief executive officer of Capital Auto Financial. “The interface is very easy-to-use and gives us a number of ways to engage our customers to ensure on-time payments without additional charges or hidden fees.”
Marcus Berkowitz, senior director, technology and innovation at microfinance organization, Grameen America, added, “PayNearMe’s debit and cash payment options have worked extremely well for our members.
“Making payments by debit card has proven to be faster, more convenient, and hugely beneficial for them,” Berkowitz continued.
To learn more about the expanded PayNearMe solution for billers or to experience a free demo, visit www.paynearme.com/business or email firstname.lastname@example.org.