PayNearMe Awarded Best of Show at FinovateSpring 2011

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Demo Included New Extensions of its Cash Payment Application for Multiple Industries

PayNearMe Inc., the cash payment network, announced it has been selected for a “Best of Show” award at this year’s FinovateSpring conference. PayNearMe previously won Best of Show at FinovateFall 2010. Finovate, held in San Francisco, showcases the best new financial and banking technology innovations. Out of 63 presenting companies, PayNearMe was one of seven selected for a "Best of Show" award by the 850 audience members.

PayNearMe’s cash payment network enables businesses to accept cash payments from the sixty million adults who are unbanked or underbanked, meaning they do not use bank accounts and often have to rely upon inconvenient and potentially expensive walk-up payment systems; teens, 95% of whom prefer to pay with cash; and consumers who don’t feel comfortable using plastic for reasons of budgeting, security, or privacy.

Earlier this week, PayNearMe announced that transportation companies can accept cash payments, utilities and other billers can now embed a PayNearMe Barcode directly onto a customer’s bill, providers of value remittance can accept cash for international mobile top-up, bill pay and gift-card delivery, and consumers can send money and pay bills overseas – all by using PayNearMe’s cash payment network at thousands of convenience stores in the U.S.

“Being selected again as one of the ‘Best of Show’ applications by the industry leaders and innovators at FinovateSpring is a tremendous honor,” said Danny Shader, PayNearMe’s CEO. “It’s a vote of confidence in our technology and the market we serve."

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 and FinovateSpring 2011. For more information, visit http://www.paynearme.com

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Stephanie Gnibus
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