PayNearMe Express is similar to the existing remote cash payment service, which allows customers to either print off a receipt or get one sent to their phone and take it to a 7-Eleven or ACE Cash Express to pay, but is aimed at other industries including rental, lending, collections, education and insurance. The service enables business owners who dont have a large physical presence to accept cash.
In addition to the launch, the company has revealed it has secured USD 10 million in additional investment that will be used to expand the business.
The concept of paying for online services with cash at a remote location is common in countries such as Japan, where many customers may not have a credit card or prefer not to use one online.
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