PayNearMe attracts serious money, big partner for unbanked
San Francisco Chronicle - about 3 years
PayNearMe, the Sunnyvale electronic cash transaction network, just closed a $20 million round of financing from Silicon Valley venture capitalists, and gained the services of Family Dollar and its 8,000 stores nationwide.
PayNearMe has two categories of users: consumers who don't have a bank account, or credit or debit card, or otherwise prefer paying their bills in cash, and businesses and government agencies who prefer not to handle cash in this digitized world.
Once you and your landlord, utility company and other cash-based businesses agree to handle your bills through PayNearMe, you bring the cash, along with a preprinted slip or your mobile phone containing an electronic barcode, and the physical bill, to your nearest 7-Eleven, Ace Cash Express or Family Dollar - 17,000 stores in all - and voila!
With blue-chip investors - Maveron is Starbucks CEO Howard Schultz's venture fund - and board members and advisers that include Intuit Chairman Bill Campbell - PayNearMe looks to be a
San Francisco Chronicle article