PayNearMe's digital-first platform enables Kapsch TrafficCom's clients to increase revenue collection by offering motorists a wide range of modern and convenient payment options
SANTA CLARA, Calif., May 6, 2024 /PRNewswire-PRWeb/ -- PayNearMe, the fintech company bringing progress to payments, today announced a partnership with Kapsch TrafficCom, a global leader in transportation solutions, to help tolling agencies across the United States increase revenue collection and improve the tolling payment experience.
"With all-electronic, cashless tolling now the norm, transportation agencies are looking to update their payments systems to support the full range of payment methods motorists want to use and that still includes cash," said Scott Sorensen, Vice President, Kapsch TrafficCom. "While cards and digital wallets are increasingly popular, cash remains an essential payment option for millions of drivers."
With this partnership, drivers on Kapsch clients' toll roads can now easily pay tolls, replenish accounts and resolve violations using a wide range of payment options. The PayNearMe platform enables payments via Cash App Pay, PayPal, Venmo, Apple Pay, Google Pay, cards and ACH, as well as cash at more than 62,000 retail locations.
"For several customer groups, including unbanked, cash-preferred and out-of-state drivers, cashless tolling means having no way to pay tolls in-lane and being forced to receive and pay an invoice. By expanding payment options to now include alternative payment methods, such as cash at retail and digital wallets, we're helping tolling agencies offer more choice and convenience to meet the needs of 100% of their drivers," Sorensen said.
PayNearMe's Smart LinkTM technology, embedded in QR codes, text messages, emails and push notifications, facilitates a frictionless payment experience. When a motorist receives correspondence with a QR code on it, they can scan it to immediately be directed to a personalized web page for their specific account or transaction where they can quickly pay their toll, reload an account or resolve a violation. From here, drivers select how they want to pay and complete the payment electronically with the tap of a button on their device.
Drivers who prefer to use cash can simply visit a nearby retail location, present their personalized barcode to a cashier, pay cash and collect a receipt—just like any retail purchase. The transaction is transmitted digitally to the tolling agency.
"PayNearMe's Smart Link technology makes it easy for drivers without a transponder to make a payment—all without the hassle of creating or logging in to an account," said Sorensen.
"Flexibility and convenience are the cornerstones of a positive customer payment experience," said Michael Kaplan, EVP and Chief Revenue Officer, PayNearMe. "We're excited to partner with Kapsch to make paying tolls frictionless for the millions of drivers traversing Kapsch clients' toll roads across the nation."
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 Cash App Pay, PayPal, Venmo, 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.
About Kapsch TrafficCom
Kapsch TrafficCom is a globally renowned provider of transportation solutions for sustainable mobility with successful projects in more than 50 countries. Innovative solutions in the application fields of tolling, tolling services, traffic management and demand management contribute to a healthy world without congestion.
With one-stop-shop solutions, the company covers the entire value chain of customers, from components to design and implementation to the operation of systems.
Kapsch TrafficCom, headquartered in Vienna, has subsidiaries and branches in more than 25 countries and is listed in the Prime Market segment of the Vienna Stock Exchange (ticker symbol: KTCG). In its 2022/23 financial year, about 4,000 employees generated revenues of EUR 553 million.
Media Contact
Victoria Penn, PayNearMe, 512-564-0706, [email protected], www.paynearme.com
SOURCE PayNearMe
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