Expanded integration brings PayNearMe clients increased reliability via PayPal's full stack processing capabilities for payments and disbursements
SANTA CLARA, Calif., Oct. 3, 2024 /PRNewswire-PRWeb/ -- PayNearMe, the fintech company bringing progress to payments, today announced an expansion of its strategic collaboration with PayPal. The expanded integration with PayPal's full stack processing capabilities for both payments and disbursements into the PayNearMe platform, helps increase reliability and expand PayNearMe's banking partnerships.
PayPal helps strengthen PayNearMe's core banking infrastructure and makes its Smart Switch technology—which enables processing redundancy for billers and iGaming operators—even more robust and reliable, helping to enhance acceptance rates and lower processing costs for the company's clients.
"PayPal has processed more than 25 billion transactions and is known for its processing stability. By adding PayPal's full-stack processing capabilities to the PayNearMe platform, we bring even more redundancy to our Smart Switch technology, helping to ensure maximum uptime and reliability for our clients," said John Minor, EVP and Chief Product Officer, PayNearMe. "PayPal has built a world-class processing stack and we are excited to continue to bring some of the best-in-class technology to our clients."
PayNearMe has offered PayPal and Venmo as payment options on its platform since 2022 and is now working to bring these and other PayPal capabilities to more clients through a single integration. The expanded integration provides the market with fast and more streamlined onboarding of PayPal services.
This collaboration sets the stage for future innovations as PayNearMe continues to build its open ecosystem, enabling easy integration with additional PayPal services as well as other technology partners. This approach to innovation and value creation benefits PayNearMe's clients by enabling them to offer more payment options and is designed drive up acceptance rates and help lower the total cost of ownership.
About PayNearMe
PayNearMe develops technology that drives better payment experiences for businesses and their customers. Our modern, flexible and reliable platform helps businesses increase customer engagement, improve operational efficiency and drive down the total cost of accepting payments. PayNearMe enables more ways to pay by offering major payment types and channels in a single platform.
PayNearMe processes all major forms of payment including PayPal, Venmo, Cash App Pay, Apple Pay, Google Pay, cards and ACH, as well as cash through our proprietary electronic cash network of more than 62,000 retail locations in the U.S.
Thousands of businesses partner with PayNearMe to manage the end-to-end customer payment experience in industries such as Consumer Lending, iGaming and Online Sports Betting, Property Management, Tolling and Legal.
To learn more about PayNearMe, please visit http://www.paynearme.com. Follow PayNearMe on X, LinkedIn and Facebook. The PayNearMe service is operated by PayNearMe MT, Inc., a licensed money transmitter.
Media Contact
Victoria Penn, PayNearMe, 512-564-0706, [email protected], www.paynearme.com
SOURCE PayNearMe
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