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PayNearMe and Shaw Systems Associates, LLC Expand Partnership to Offer Lenders Electronic Bill Payment Options That Meet the Needs of Every Consumer Segment
SANTA CLARA, Calif., October 20, 2021 – PayNearMe, the modern and reliable payments platform known for making payments easy for both businesses and consumers, and Shaw System Associates, LLC., a leading software solution for the consumer finance industry, are pleased to announce the expansion of their partnership, enabling Shaw’s clients to facilitate payments for their millions of customers who want convenient bill pay options. In addition to facilitating cash payments, the partnership will enable Shaw clients to accept card, ACH and mobile-first payment options including Apple Pay all with a single payment platform.
“In the highly competitive consumer lending market, reliability and innovation are essential for lenders to differentiate and succeed,” said Chris Shaw, CEO, Shaw Systems Associates, LLC. “Our expanded integration with PayNearMe allows lenders to accept both electronic payments and cash payments in a single platform and directly from the Shaw platform interface.”
The integration of the PayNearMe platform within Shaw Spectrum ensures that any payments made by the borrower, through any channel including agent, web, mobile, IVR or mobile wallet, are immediately recognized, keeping borrower accounts up to date. Expanding this integration meets the needs of every consumer segment, providing greater choice and flexibility in repayment options, and eliminates the need for lenders to maintain multiple loan payment processing platforms. With PayNearMe Smart Link™ technology, lenders can offer borrowers an easy and fast way to pay on a smartphone via a QR code, email, text or push notification.
“We first partnered with Shaw Systems in 2012 to enable automotive finance providers to accept cash bill payments from their borrowers,” explained Joe Rodriguez, VP of Strategic Partnerships, PayNearMe. “Our expanded integration with Shaw Systems now allows lenders to leverage our full platform to facilitate both cash and electronic payments and manage the entire customer payment experience. Because our platform integrates seamlessly with Shaw software, lenders can easily accept and process bill payments of any type, and borrowers have the flexibility to make payments using their preferred tender type through a simple, easy-to-use interface.”
About Shaw Systems Associates, LLC
Shaw Systems is a financial technology company specializing in loan and lease servicing, collections and recovery management software since 1967. The company's enterprise solutions process millions of accounts daily for clients ranging in size from the world's largest financial institutions to the local community bank. The company’s software provides automation, flexibility, a user-friendly interface, and a scalable solution to support top financial institutions. It’s client base includes auto finance leaders, banks, captive finance companies, credit unions, peer-to-peer lenders, wholesale lenders, commercial finance, and specialty lenders. Visit www.shawsystems.com to learn more.
PayNearMe develops technology that drives better payment experiences for businesses and their customers. Our modern, flexible and reliable platform helps businesses increase customer engagement, improve operational efficiency and drive down the total cost of accepting payments. PayNearMe enables more ways to pay by offering all major payment types and channels in a single platform.
PayNearMe today processes a variety of payment types including cards, ACH, Apple Pay and Google Pay, and has enabled cash payments through our proprietary cash network since 2009. PayNearMe cash payments are accepted at more than 31,000 retail locations in the U.S. including participating 7-Eleven®, Walmart®, Family Dollar® and Casey’s General Stores®, among others.
Thousands of businesses partner with PayNearMe to manage the end-to-end customer payment experience in industries such as Consumer Finance, Property Management, Insurance, Utility and Municipality, and iGaming and Sports Betting.
To learn more about PayNearMe, please visit www.paynearme.com. Follow PayNearMe on Twitter, LinkedIn and Facebook. The PayNearMe service is operated by PayNearMe MT, Inc., a licensed money transmitter.