PayNearMe Awarded Best of Show at FinovateSpring 2013

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Company receives award for the third time after launching cash receivables product for financial institutions

PayNearMe Inc., the electronic cash transaction network, today announced its selection as a “Best of Show” award winner at FinovateSpring 2013. Held in San Francisco, the popular conference showcases the best new financial and banking technology innovations. PayNearMe also received the award in fall of 2011 and spring of 2012, both times as the company introduced new technologies to improve cash transactions.

PayNearMe was selected for Best of Show this year based on its demonstration of a white-label cash receivables product that financial institutions can offer to their business accounts of all sizes. The company’s core technology makes cash electronic, transforming it from the most expensive form of tender into the easiest and most efficient. PayNearMe provides customers with an instant network of more than 8,600 7-Eleven® and ACE Cash Express® stores throughout the U.S. that serve as payment locations. By integrating with POS terminals at local stores, PayNearMe eliminates the need for businesses to deploy additional resources to accept and handle cash or cash equivalents while offering consumers a simple and convenient way to pay with cash.

“We are honored that Finovate attendees again selected PayNearMe for Best of Show from a field of innovative technologies,” said PayNearMe CEO, Danny Shader. “We can’t wait to share our newest offering with the financial community as we continue to make the acceptance of cash payments as efficient and secure as ACH, debit, and credit.”

To see a video of PayNearMe’s demo, please visit http://www.finovate.com/spring13vid/paynearme.html

About PayNearMe

PayNearMe is the cash transaction network that enables consumers to pay rent, repay loans, buy tickets, make online purchases and much more with cash. Consumers can conveniently make payments 24/7 in their own neighborhood in less than 60 seconds at one of the 8,600 participating 7-Eleven and ACE Cash Express stores across the United States. For more information, please visit http://www.paynearme.com.

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