PayNearMe, which allows users to pay bills — even digital bills — with cash, serves the nation’s underbanked customers. Who are the underbanked? PayNearMe, based in Sunnyvale, Calif., lays it out in the infographic below, presented exclusively on Bank Innovation.
Post Tagged with: "PayNearMe"
Apparently GoBank’s experiment letting users choose their monthly fees didn’t work out so well. GoBank has been out of action lately, not allowing new members for the past several months.
There are between 60 million and 100 million cash-preferring consumers in the U.S. That’s about the population of the nation’s four largest states – California, Texas, New York and Florida – combined. In April, the Federal Reserve released a paper called the “Diary of Consumer Payment Choice” (DCPC) that featuredRead More
It’s no secret merchants love being paid in cash – and it’s certainly not a surprise that some customers hate lugging around change. A new startup aims to increase customers’ cash usage to help merchants save on credit card fees. It does it by forwarding the change a customer wouldRead More
American consumers may not go to bank branches all that often, but they sure go to Walmart. 80% of Americans are said to shop at Walmart at least once a year. America’s largest retailer debuted a service called Walmart-2-Walmart last week that allows customers to send money to other customersRead More
$20 million? Meh. PayNearMe CEO Danny Shader is used to raising money — this was a Series E raise, after all — so the $20 million of funding his company received this week was no big deal to him. More important was the deal struck with Family Dollar stores, whichRead More
Need cash but the bank account’s empty? No problem, try the ATM — the peer-to-peer (P2P) ATM, that is. Crowdfunding and P2P lending have become mainstream concepts. Kickstarter is practically a household word and Venmo is plastered all over the New York subway system. In the coming months, a company calledRead More
PayPal deepened its investment in the world of brick and mortar with a MoneyGram partnership, announced yesterday, that allows PayPal account holders — all 120 million of them — to deposit and withdraw cash at one of MoneyGram’s 47,000 locations nationwide. Sounds like a low-cost way to build a branch networkRead More
GoBank, the mobile-first bank account from Green Dot Corp., has already made some bold marketing moves, and added to them yesterday with the unveiling of a new student-centric marketing effort and the introduction of spokesperson Bethany Hamilton. GoBank made the disclosures during Green Dot’s second quarter earnings call. GoBank’s marketingRead More
WU Pay is part of Western Union’s strategy to catch up in payments. Customers can use WU Pay for online purchases, then fund that payment by handing over cash at one of Western Union’s 44,000 locations. Now Western Union is opening up WU Pay to online bill pay, all fundedRead More