Established in 2009 as a privately held company in California, the United States, PayNearMe started as a voucher-based payment service with representation in convenience store chains, including 7-Eleven.
Fast-forward to ten years later, the company expanded its line of products. It is now offering online merchants gateways that will allow customers to pay by credit and debit cards, ACH, cash, and mobile banking systems, such as ApplePay and GooglePay.
Customers can also choose how to process payments, and the list includes text messages, e-mails, web, IVR, and in-person transactions. All of these possibilities became available due to the innovative technology from Silicon Valley. The PayNearMe banking is browser-based, as well as mobile-friendly, with downloadable iOS and Android apps.
All of the services are PCI DSS-compliant, with the company implementing all the latest safety protocols.
Probably the most popular product of PayNearMe is the prepaid card or a Payslip – a voucher for a single transaction. Using it in the online casino lobby is extremely simple, and the blueprint is:
- Select an online operator that accepts this payment method, and register an account.
- Head to the Cashier, select Deposits, then opt-in for PayNearMe.
- Specify the amount you’d like to deposit.
- The system will then generate a barcode that you will need to pay in cash in any of the local stores.
On average, once the slip is paid (or you’ve topped the prepaid card and ran it through the casino cashier it), it takes up to 10 minutes for the funds to be added to the account. In rare cases, the procedure may take up to 24 hours. PayNearMe claims a fixed fee between 1.99 to 3.99 USD per transaction. Minimum deposits start at 10 USD, and you can deposit up to 500 USD per one PayNearMe transaction.
In casinos for depositing
In casinos for withdrawal
Minimum Bank Wire deposit fee
Maximum Bank Wire deposit fee
Minimum Credit card deposit fee
Maximum Credit card deposit fee
Currency conversion fee
The fee to make a payment varies from $0 (free) to $5.99, but it is always clearly stated within the app before you make a payment. The fee varies because some service providers choose to take on the processing fee so that they can offer the cash payment option for free to their customers (e.g. Greyhound bus, Grameen America, City of North Las Vegas utilities).
For 70 percent of our service providers, the fee to make a payment is $1.99.
For service providers in high-dollar-amount-payment industries like rent or auto payments, the fee is typically $2 to $3.99.
For about 0.1 percent of billers (about 30 out of approximately 17,000), the cost to make a payment is $4 to $5.99.
Limites: transaction min
Limites: transaction max
Gambling account-funding transactions are further limited to $500 per user per day, making it an inefficient mechanism to launder money.