PayNearMe Enables Cash Payments for International Mobile Top-up and Value Remittance

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Using PayNearMe, Sochitel becomes first provider for direct, international prepaid account cash top-ups at U.S. 7-Eleven, Inc. stores.

PayNearMe, the cash payment network, today announced a new service whereby consumers can pay cash for value remittance services, including international mobile top-up, bill pay and gift carding.

Mobile operators and value remittance providers can work with PayNearMe to offer their prepaid mobile subscribers the ability to add minutes to their accounts at any one of the nearly 6,200 7-Eleven® stores across the U.S. without the need for dedicated cards. Also, consumers in the U.S. can pay bills or load gift cards on behalf of friends or family members outside of the country.

PayNearMe doesn’t require a dedicated in-store card for these transactions, which makes it easier for providers who do not currently have distribution in 7-Eleven stores. For the unbanked and those who prefer to pay with cash, PayNearMe delivers a convenient option to top-up an account anywhere in the world.

Using PayNearMe’s new capabilities, Sochitel, a provider of value remittance, becomes the first company to enable its U.S. customers to send airtime directly to friends and family internationally by paying with cash. As an MTN distribution partner, Sochitel can now offer MTN’s subscriber base of more than 115 million subscribers worldwide access to this innovative service.

The process for consumers to load funds is fast and easy. They go to a participating 7-Eleven store to pick up a free PayNearMe Card and text the card number to PayNearMe. They then present the card along with cash at the register and receive a customized receipt summarizing the transaction. This simple process allows friends or family members to top-up another subscriber’s account anywhere in the world.

“We are thrilled to be working with PayNearMe to deliver a new, simple, and innovative method for our customers to top-up mobile accounts easily at a location that is convenient to them,” said Jerry Ejikeme, CEO of Sochitel.

“We are proud that providers such as Sochitel can now use the PayNearMe network to remit value anywhere in the world,” added Danny Shader, CEO of PayNearMe. “In working with PayNearMe, leading companies in international mobile top-up, bill pay, gift cards, and more can gain distribution at nearly 6,200 7-Eleven stores across the country overnight.”

In addition to the launch of mobile top-up capabilities, PayNearMe made three other announcements today. Utilities and other billers can now embed a PayNearMe Barcode directly onto a customer’s bill, transportation companies can now accept cash payments through PayNearMe, and consumers can send money and pay bills using Ria and PayNearMe (see PayNearMe website for more details).

About PayNearMe
PayNearMe is the cash payment network that enables consumers to pay conveniently with cash for a wide variety of goods and services from leading companies in e-commerce, consumer finance, transportation and beyond. Consumers pay easily at a local store, starting at 6,200 7-Eleven stores across the United States. PayNearMe was selected as Best in Show at FinovateFall 2010. For more information, visit http://www.paynearme.com.

About Sochitel
Sochitel provides comprehensive and fully-effective coverage for Value Remittance delivery on behalf of its Operator Clients and millions of customers in the major Corridors that serve the Diaspora. With offices in UK and South Africa, Sochitel operates using its Global Value Transfer Platform- GVT™ and Channel partners to deliver effective sales, marketing and management of Global Value Remittance Solutions. Sochitel has been selected as the exclusive Overseas Airtime Remittance Partner of MTN, representing the opportunity to deliver Overseas Top Ups for all of the MTN Group’s 21 Operating Countries (OpCos) in three continents, Africa, Europe and Middle East/Arabian Gulf.

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Stephanie Gnibus
GMK Communications for PayNearMe
408.776.9727
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