PayNearMe: Bringing Convenience to the Financially Underserved

Every day, it seems, there’s a news story about hidden bank fees or household debt. Less reported is how hard it is to get by without plastic in the United States. Many utility providers, landlords and more don’t accept cash payments, so consumers who are unwilling or unable to open a bank account or take out a credit card have to pay for money orders or spring for potentially costly prepaid debit cards. But though nearly 30% of American households are un- or underbanked, few payment startups have tackled the issue.