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MOUNTAIN VIEW, Calif. -- PayNearMe Cards, which allow consumers to complete transactions with a growing list of payees, including Amazon.com and Facebook, are now available for free at more than 6,000 7-Elevenstores across the U.S, the vendor reported.
"By creating mobile cash payments with the free PayNearMe Card, we're making it even easier for consumers to make payments with cash," said Danny Shader, CEO of PayNearMe. "Now, businesses that accept PayNearMe can serve the large and growing population of consumers who prefer cash and want to use their mobile phones."
To complete a payment with a PayNearMe Card and a mobile phone, consumers:
1. Provide their mobile number to a business they wish to pay with cash
2. Get a free PayNearMe card from their local 7-Eleven store and reply to a text message from PayNearMe with the Card's unique number
3. Hand that PayNearMe Card and cash to a store associate who completes the transaction in real-time. After the transaction has been processed, the PayNearMe Card can be re-used or discarded.
As with all PayNearMe transactions, the payee is notified immediately that payment has been received with no risk of fraud, charge-backs or frozen funds, according to the vendor.
Unlike gift or pre-paid cards, which store value and are typically in fixed amounts (or denominations), PayNearMe Cards simply enable mobile cash payments in any amount from $.01 to $1,000. There's no stored value, no hidden fees, no unused balances, and no need -- or even ability -- to pay more than the consumer intended to spend, the company stated.