PayNearMe Market Research Report
Company Overview
- Name: PayNearMe, Inc.
- Mission of the Company: No information is available.
- Founded: No information is available.
- Founders: No information is available.
- Key People in the Company: No information is available.
- Headquarters: No information is available.
- Number of Employees: No information is available.
- Revenue of the Company: No information is available.
- What is the Company Known For:
- PayNearMe develops technology to facilitate the end-to-end customer payment experience, making it easy for businesses to accept, disburse, and manage payments. The platform is modern and reliable, lowering the total cost of accepting payments by increasing acceptance rates, driving self-service, and simplifying exceptions.
Products
Modern Payment Processing
- Description:
- A platform designed to handle payments efficiently, reliably, and without heavy manual interventions.
- Key Features:
- Handles the high cost of acceptance, poor user experiences, and too many failed transactions.
- Reduces time spent managing technology and increases time for innovation and growth.
Automation & Self-Service
- Description:
- Automation features to lower the overall cost of acceptance significantly.
- Key Features:
- Improves operational efficiency through automation and enabling self-service.
Wider Payment Options
- Description:
- Offers flexible payment options to meet every customer’s preference.
- Key Features:
- Allows businesses to say yes to every payment, improving customer satisfaction and payment rates.
Exception Management
- Description:
- Provides tailored solutions for handling payment exceptions efficiently.
- Key Features:
- Minimizes the costs and hassles involved with chargebacks and fraud.
Dedicated Partner
- Description:
- Ensures businesses upgrade with confidence through proven processes and an innovative roadmap.
- Key Features:
- Partners with clients to tackle significant payment challenges today and in the future.
Recent Developments
- New Products Launched: No information is available.
- New Features Added to Existing Products: No information is available.
- New Partnerships: No information is available.
Industry Solutions
- Auto & Consumer Lending:
- Integrated platform to drive up self-service payments and reduce delinquencies.
- Tolling:
- Frictionless payment options for toll collection.
- iGaming:
- Simplifies deposits and withdrawals with a single platform and integration.
- Buy Here Pay Here:
- Reduces chargebacks and increases on-time payments.
- Banks & Credit Unions:
- Increases on-time payments from indirect borrowers with a future-proof platform.
- Mortgage Servicing:
- Meets evolving customer needs with support for all major payment types.
- Law Firms:
- Eliminates on-site cash payments and simplifies IOLTA compliance.
Case Studies
OneMain Financial
- Challenge: Reduce risks of in-branch cash acceptance and cut operating expenses.
- Solution: Implemented PayNearMe to facilitate secure and convenient nationwide cash payments.
- Results:
- 1,500+ branches adopted the cashless initiative
- >$1,000,000 in annual operational savings
- "No Cash" initiative was overwhelmingly successful.
Toll Roads of Orange County
- Challenge: Serve missed toll payments conveniently.
- Solution: Implemented PayNearMe's scan & pay QR codes, mobile wallets, and cash options.
- Results:
- 640% increase in QR code payments
- 35% increase in payments from drivers who were 5+ days late.
Northwoods Automotive
- Challenge: Reduce inbound payment calls and in-person payments.
- Solution: Implemented PayNearMe for efficient self-service payments.
- Results:
- 70% reduction in inbound calls
- 90%+ of payments are now self-service
Client Spotlights
- Adrienne Davila: CAR Financial Services
- Bruce Newmark: United Auto Credit
- Darlene Fair: Transwest Equities
Company Statistics
- Years in Operation: 15+ years
- Monthly Processed Amount: Billions of dollars
- Businesses Using Platform: 16,000+ businesses
- Cash at Retail Locations: 62,000+ locations
Conclusion
PayNearMe is a prominent technology provider dedicated to enhancing the payment experiences of businesses. The platform is robust, offering automation, self-service, and efficient payment processing capabilities designed to cater to various industries including automotive lending, tolling, iGaming, and more. Through proven solutions and client-centric innovations, PayNearMe consistently meets the complex demands of modern payment processing, ultimately driving progress and operational efficiency for its clients.
