The Innovative 7 Eleven Bill Pay App is a Game Changer for Cash-Paying Customers

Paying bills can be a hassle, especially for people who prefer to use cash. Going to a payment center, standing in line, and filling out paperwork just to pay your cable bill is inconvenient and time-consuming. But 7 Eleven has partnered with PayNearMe to solve this problem with a mobile app that allows customers to easily pay thousands of bills with cash at participating 7 Eleven stores. This innovative app is a total game changer, making bill payment fast, convenient, and accessible for unbanked and cash-preferring consumers.

Overview of the 7 Eleven Bill Pay App

The 7 Eleven Bill Pay app, operated by PayNearMe, serves as a full-service mobile bill payment center With the app, cash-paying customers can securely pay over 17,000 national and local billers in under 60 seconds at nearly 8,000 participating 7 Eleven stores across the country

The app allows users to

• Easily add billers and see payment history
• Get payment reminders
• Generate a scannable barcode for each bill
• Pay bills by having the cashier scan the barcode and collect the cash payment

Customers immediately receive an electronic receipt as proof of payment. Most payments post to accounts within 4 business days.

Key Benefits for Consumers

The 7 Eleven Bill Pay app provides several significant benefits for cash-preferring consumers:

Convenience

• Pay bills 24/7 at nearby 7 Eleven stores. No need to go to a payment center or mail payments.
• Takes less than 60 seconds – just generate barcode, show to cashier, and pay.
• Schedule reminders and easily track payment history in the app.

Accessibility

• According to the FDIC, 28% of households are underbanked or unbanked. This app finally gives cash users a digital payment option.
• Great for those without bank accounts, who don’t want bank accounts, or who simply prefer using cash.

Affordability

• Low fees, usually around $1.99 per transaction. Much cheaper than money orders.
• Avoid late fees by paying on time with the app.

Security

• No need to share sensitive account info with cashiers. The barcode keeps your info private.
• Payments are secure – most post to accounts within 4 business days.

Billers Available on the App

Users of the 7 Eleven Bill Pay app can pay thousands of national and local billers, such as

• Cable and cell phone companies
• Electric, gas, and water utilities
• Insurance companies
• Credit cards and loans
• Rent payments
• And many more

Plus, users can pay merchants that already accept PayNearMe cash payments, like Greyhound and Philadelphia’s Indego bike share program. The app’s biller network is continuously expanding.

How the Mobile Payment Process Works

Paying a bill with the 7 Eleven Bill Pay app only takes a few simple steps:

1. Download the app – Available free on Google Play and the App Store.

2. Create an account – Setup your user profile in the app.

3. Add a biller – Search for and select a biller in the app.

4. Generate barcode – The app creates a unique barcode for that bill.

5. Visit 7 Eleven – Bring cash and barcode to make payment.

6. Show barcode to cashier – Cashier scans barcode and collects cash payment.

7. Get receipt – You receive an electronic receipt in the app as payment confirmation.

It’s as easy as that! This app finally brings bill payment into the digital era for cash-preferring consumers.

Benefits for 7 Eleven and Other Retailers

The 7 Eleven Bill Pay app isn’t just beneficial for consumers – it also uniquely positions 7 Eleven and other retailers to better serve unbanked communities.

For retailers, the app provides:

• Increased foot traffic and new customer acquisition
• Added value for existing customers
• An innovative “convenient store” offering
• Minimal integration or POS changes needed

PayNearMe’s cloud-based backend handles everything behind the scenes. Retailers simply provide store associates to scan barcodes and collect cash.

Given the large unbanked population, the app allows retailers to cater to this underserved market in a quick, low-risk way. It’s a win-win for retailers and cash-preferring consumers alike.

The Future of Cash Payments

While the world is moving toward digital payments, cash still remains important for millions of Americans. Approximately 17 million US adults are unbanked, and another 50 million are underbanked. For these individuals, cash is a necessity.

Unfortunately, cash-payers have fewer options in today’s digital economy. Online bill pay excludes them. Paper bills and money orders are inconvenient. This app finally bridges that gap.

Danny Shader, PayNearMe’s CEO, says the 7 Eleven partnership is “just the beginning.” PayNearMe plans to expand its retail network and launch other financial services tailored for the unbanked.

As Shader notes, you can’t push cash into a smartphone. But you can digitize cash transactions. And that’s exactly what the 7 Eleven Bill Pay app does so elegantly.

For cash-payers, this app provides much needed accessibility and convenience in bill payment. And for companies like 7 Eleven, it presents a new opportunity to cater to an underserved demographic.

The 7 Eleven Bill Pay app shows that mobile technology, coupled with an extensive retail network, can truly empower unbanked consumers by meeting their specialized financial needs. This innovative app represents the future of cash payments in America.