Shoppers can pay bills in cash at any Walmart MoneyCenter

By Jeff Domansky, June 9, 2021

Fintech PayNearMe will enable millions of Walmart shoppers to pay their bills with cash by displaying a scannable code on their mobile phones at any of Walmart’s 4,674 US stores and MoneyCenterbehavior locations.

In expanding its partnership with digital financial institution Green Dot, payments platform PayNearMe makes it easy for customers to pay bills at more than 31,000 retail locations across the US, including Walmart, 7-Eleven, Family Dollar, Casey’s General Stores, and ACE Cash Express.

PayNearMe allows partner retailers to accept cash payment of bills or invoices on behalf of more than 5,000 US government agency and business customers using its technology platform to simplify bill payments and receive funds digitally.

As many as 25% of US residents still depend on cash to pay for their daily expenses, bill payments, and other living costs. Some are unbanked or under-banked, while others are unable to qualify for credit cards, loans, or use other digital financial services.

Financial services on Aisle 5

Walmart is building a wide range of financial services within its MoneyCenter locations. Paying bills by cash with digital funds sent digitally to US business customers makes practical business and adds a helpful new service for Walmart customers.

In January 2021, Walmart announced plans for a new fintech startup that could soon offer its 265 million weekly customers a basket of fresh new financial products like those available from other successful fintech startups. Its partner in that venture is San Francisco-based VC group Ribbit Capital, which has invested millions in several early-stage fintech disruptors, including Affirm, Checkout.com, Robinhood, and others.

Michael Kaplan, Chief Revenue Officer and General Manager, PayNearMe, said, “Nearly a quarter of the US population prefers – or needs – to pay their bills in cash, and when these individuals can pay their rent, car payments, and utility bills in the same location where they shop, paying bills on time becomes easier and more convenient. We’re excited to offer more PayNearMe locations for consumers to make cash payments.”

How PayNearMe bill payments work

PayNearMe business customers issue a bill with a personalized barcode to consumers via their mobile device, text message, email, or a printed statement.

To pay bills at participating stores, shoppers simply show an associate at the Money Services desk or Walmart Customer Service desk the scannable barcode on their smartphone, pay with cash, and collect a receipt that confirms the payment is completed. Funds are then transferred to the biller electronically through a single consolidated settlement.

More than 5,000 businesses now partner with PayNearMe to manage the end-to-end customer payment experience in industries such as consumer finance, property management, insurance, utility and municipality bills, government agencies, and igaming and sports betting.

It’s an innovative service that enables customers to pay with cash, and yet businesses can receive digital funds quickly, easily, and securely. PayNearMe is an excellent example of an award-winning fintech solution and innovation in digitizing cash payments using simple online technology requiring minimal tech support and investment by businesses. It simply works, and it works simply.

Originally launched ten years ago to process cash payments through retail stores such as 7-Eleven, PayNearMe now processes billions of dollars annually via all payment types, including cards, ACH, cash, and mobile payment methods such as Google Pay and Apple Pay.

The new service at Walmart will be available by August 2021.

Green Dot grows a branchless network

Based in Pasadena, CA, Green Dot has served more than 33 million customers and now operates as a “branchless bank” with more than 90,000 US retail partner locations, including Walmart. It is a subsidiary of Green Dot Corporation and a member of the FDIC.

“We are always looking for opportunities to deliver modern and seamless banking and money management solutions that create exceptional experiences for our customers and partners,” said Brandon Thompson, EVP of Retail, Tax and PayCard, Green Dot. “We’re proud that millions of Walmart shoppers can now pay bills with cash in-store, an essential offering for this customer made easier by our partnership with PayNearMe.”

Green Dot technology provides fast, efficient electronic payments and money management, for people to spend, send, control, and save their money. Through its retail and direct bank, Green Dot offers a broad set of financial products to consumers and businesses, including debit, prepaid, checking, credit, and payroll cards, as well as money processing services, tax refunds, cash deposits, and disbursements.

You can learn more about PayNearMe at its website or Green Dot here.