Under the terms of the deal, Avangate will integrate a payment application from PayNearMe, enabling software buyers to order products online and pay via cash at 6,200 7-Eleven stores in the US.
The PayNearMe payments service excludes the use of credit or debit cards. Buyers have to print out a receipt for the products purchased online, show it to the clerk at the nearest 7-Eleven location and pay with cash. Because the POS terminals at 7-Eleven stores are connected directly to PayNearMes systems, merchants are notified when their consumer has paid.
Orders are placed at vendors’ online stores, via secure pages powered by Avangate. Avangate is notified of consumers payments immediately, and transactions are completed automatically, including the delivery of the software products via email.
Via this integration, Avangate enables software companies to make products and services available to a potential market of almost 60 million US households that do not have a debit or credit card or consumers who prefer to use cash as a payment option.
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