RJM Acquisitions Launches Cash Pay-in-Person Solution for Debtors

PayNearMe, the cash transaction network, today announced that RJM Acquisitions LLC is making it easier and often less expensive for debtors to repay their obligations by becoming the first collection agency to include slips imprinted with PayNearMe-powered barcodes with its dunning letters. These PayNearMe Slips make it simple to repay a debt at a local store with cash, starting with the 6,300 participating 7-Eleven locations throughout the United States.

To repay a debt, the 60 million adults in the U.S. who are unable or unwilling to use credit or debit cards or ACH now can make a payment by bringing cash and their PayNearMe Slip to the register at their local, participating 7-Eleven store. They receive confirmation of that payment in real-time on the register receipt, which they can use to prove payment. The entire transaction can be completed in 60 seconds. No additional work or forms are required.

“Offering an easy cash payment option, such as PayNearMe, is one of the many ways we try to help debtors pay their obligations,” said RJM Acquisitions CEO Scott Matte.

“Innovative collection agencies like RJM can improve their repayment rates by making it easier for the debtors they serve to pay with cash,” said Danny Shader, CEO and founder of PayNearMe. “We are committed to improving every agency’s metrics by making it easier for the debtor to pay. PayNearMe reduces the amount of work and effort required to pay with cash.”

PayNearMe is the cash transaction network that enables consumers to pay conveniently with cash for a wide variety of goods and services from leading companies in e-commerce, consumer finance, transportation and beyond. Consumers pay easily at a local store, starting at more than 6,300 7-Eleven stores across the United States. PayNearMe was selected as Best in Show at FinovateSpring 2011.