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Friday, January 25, 2013

Pay Anyone With Cash — Even When They’re Miles Away

Here’s how it works: Say you’re a tenant in an apartment complex run by a property management company based in another city or another state. Handing over a wad of bills isn’t an option. If that property manager is signed up, you can go to the PayNearMe website, find yourself in the tenant database, and get a barcode (printed on paper or sent to your smartphone). Take that barcode to 7-Eleven, get it scanned and pay the cashier your rent in cash. You’re done.
But he also says the ability to take cash without the headaches of physically handling it has advantages for those on the receiving end: “Cash,” Shader says, “doesn’t bounce.”
Starting today, small and medium-sized businesses can set up an account directly through the PayNearMe website to start taking remote cash payments themselves. The account costs $199, and consumers pay $3.99 per payment.
Pay Anyone With Cash -- No Matter Where They Are | Wired Business |