PayNearMe provides a cloud‑native Payment Experience Management platform that consolidates payment acceptance, processing, disbursement, and exception handling into a single system. The solution supports cards, ACH, mobile wallets and cash at over 62,000 retail locations via Smart Links and QR codes, and uses AI‑driven analytics and configurable automation to boost completion rates while lowering manual processing and fraud exposure.
Funding
$50M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Businesses that process payments often rely on fragmented, legacy systems that require manual reconciliation, limited payment channels, and extensive human intervention to resolve exceptions such as chargebacks and NSF transactions. These inefficiencies raise the total cost of acceptance, depress payment completion rates, and hinder cash‑flow visibility.
Solution
PayNearMe delivers a unified Payment Experience Management platform that orchestrates the entire payment journey—from acceptance through disbursement and exception handling—within a single, cloud‑native solution. The platform supports all major payment methods (cards, ACH, mobile wallets, and cash at over 62,000 retail locations) and provides a mobile‑first, self‑service experience for end customers via Smart Links and QR codes. Built‑in automation and configurable business rules reduce manual processing, while AI‑driven analytics surface actionable insights to improve acceptance rates and lower fraud exposure. Integrated APIs and pre‑built connectors enable seamless integration with loan‑servicing, dealer‑management, and other enterprise systems, and a dedicated partner team ensures rapid onboarding and ongoing support. The result is higher payment completion, faster cash flow, and a measurable reduction in the total cost of acceptance.
Target Audience
Primary customers are lenders and finance companies (auto, consumer, mortgage), credit unions, iGaming operators, toll agencies, and buy‑here‑pay‑here automotive dealers that require high‑volume, multi‑method payment processing and robust exception management.
Features
- End‑to‑end money movement engine that handles payments, refunds, and instant digital disbursements to debit cards, ACH, PayPal or Venmo.
- Multi‑channel payment acceptance: cards, ACH, Apple Pay/Google Pay, Cash App Pay, and cash at 62 000+ retail locations via QR code or barcode.
- Smart Link™ technology for one‑click, secure payment links delivered via SMS, email, chat, or agent interface, with biometric authentication support.
- AI/ML‑powered analytics and risk models that flag high‑risk transactions, predict delinquency, and optimize routing to the lowest‑cost processor.
- Configurable business‑rule engine that automates workflows such as automatic retries, dispute management, and compliance checks without custom development.
- Comprehensive exception management suite covering chargebacks, NSF, over‑payments, and fraud mitigation, reducing manual exception handling by up to 50 %.
- Open RESTful APIs and pre‑built integrations for leading loan‑servicing, dealer‑management, and CRM systems, plus SDKs for rapid low‑code embedding.
- 24/7/365 support, migration assistance, and a dedicated partner success team to ensure smooth implementation and continuous optimization.