After tripling year-on-year, PayNearMe raises $20M to build out its payments network for cash-only Americans
February 6, 2014
Shader adds that there are more Family Dollar stores than there are 7-Elevens, and they often are in places that 7-Elevens aren’t. For example, there are no 7-Elevens in Atlanta. More importantly to PayNearMe’s merchant partners, these retailers are well known and trustworthy. By contrast, many of Western Union and MoneyGram’s payment locations are off-brand bodegas and corner stores, Shader says – not exactly the type of place companies like Greyhound, Tupperware, FIS, Infosend, and Ford Motor Credit want to direct customers with a wad of cash.
